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How to Deal with e-filling of W-3 form in QuickBooks Payroll?

In this technology world, it is time for employers to start thinking about W3 Forms. Form W-3 reports the total salary and wages paid to all of your employees, along with total FICA taxes and income withheld throughout the prior year. Every employer that files many W-3 forms must also file Form W-3. Order paper copies of the form on the e-file and IRS website through the SSA BSO portal. Employers have two options to generate e-filling of W-3 form in QuickBooks Payroll themselves. The person who is using payroll software may have the option to print w3 forms directly from their software. If that option is not available they may choose to utilize W-3 software.

QuickBooks Payroll data generated throughout the year 

In general payroll software automatically generates e-filling of W-3 form in QuickBooks Payroll data generated throughout the year for each employee. 

1) You have to type the general company information including employer identification address and number. 

2) Next, you have to type the employee general information including Social Security Number and address. 

3) The filing status, number of exemptions and pay frequency all go in to determining the amount of income tax withholding, which is reflected on employee's W3 Form, this is important data to add to your payroll software.

4) Once your payroll program has been set-up with your company data you are ready to create checks and print W3 forms.

5) In payroll software, you have to tap on the pay button that brings up the employee's pay check information. 

6) For hourly or per piece employees type the number of hours or pieces, for salaried employees the gross income will automatically be entered and for variable types of incomes such as commission the user will enter the gross income. 

7) By entering these amounts and hitting the tab key on the keyboard the payroll provider will see the withholding information which will then automatically transfer to Form W3.

8) Create payroll checks that automatically calculate federal and state income tax withholding. 

9) The income tax withholding from the checks will automatically be populated on Form W-3.

Good choice for printing Form W3 

For employers not using automated payroll software a good choice for printing Form W3 is W3 software. Separate e-filling of W-3 form in QuickBooks Payroll allows the user to fill in company, employee and W3 data directly on W3 forms. Then print W-3 forms to issue to employees and submit to the Social Security Administration.

Employers are required to report employee wages and income tax withholding to the Social Security Administration. You can find all the detailed Form W3 instructions on the Internal Revenue Service website. The last option that employers have for filing Form W-3 and any outstanding payments or deposits is to work with a tax professional who can handle both the filing and depositing for you. Both of these are often completed via the Electronic Funds Withdrawal (EFW) system referenced.
 

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