W-2: IRS Payroll Tax FormIf you have paid employees, you must prepare IRS payroll tax forms W-2 and W-3 each year.
Your form W-2 tells the IRS, the Social Security Administration, and the employee the amount of wages and withholdings for the year. The transmittal form W-3 is the cover page for all the W-2s that will be submitted to the Social Security Administration. It summarizes the total wages and withholdings included on all the W-2s. The IRS payroll tax form W-2 has at least three copies. Copy A has preprinted red boxes and must be submitted to the Social Security Administration along with the W-3. Copies B and C have preprinted black boxes and are given to the employee. *Notice: You cannot download a usable W-2 from the web! See the notice at the bottom of the page for instructions. Your small business should also keep a copy of each W-2s for its records. When preparing the W-3, it is very important that the totals on the W-3 match the sums of totals on the four Quarterly 941 Forms.
Notice that your small business does not, send a copy of the form W-2 and W-3 to the IRS. Instead, the Social Security Administration shares the W-2 and W-3 information with the IRS. So...your business does not have to send copies to both agencies. *Notice: You cannot download a usable W-2 and W-3 from the web! The original that’s filed with the IRS is printed in red ink and is read by a scanner.
You can order forms from the IRS at no charge, or purchase them from an office supply store. You can reach IRS at 1-800-TAX-FORM to request the ones you need. Usually after you send in your first year, the IRS will automatically send them to you each year. Return to BasicAccountingHelp’s Home Page from IRS Payroll Tax Form
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