Form W-3 Definition
All employers must complete Form W-3, the Transmittal of Wage and Tax Statements, and submit it to the Social Security Administration (SSA). You send this form with Form W-2. Form W-3 comprises all the information about employee earnings, Medicare wages, and Social Security wages. The form summarizes the information on Form W-2.
Form W-3 Extended Definition
Every year, employers are required to submit Form W-3 to the Social Security Administration (SSA). The form contains a summary of all the wages paid to employees and all federal taxes withheld. The SSA sends Form W-3 to the Internal Revenue Service (IRS). The IRS then checks the number of employees your business has and the accuracy of your Form W-2s.
Related Article
How Long to Keep Payroll Records | Patriot Software
What Is Form W-3? | Patriot Software
Last Updated By
Jenna Hutkowski | May 01, 2023