W-2 forms are important because employers are required to report wage and salary info from their employees. The W-2 will also report the federal, state and other taxes withheld from your paycheck. This form is required to be sent out by the end of January.
The W-3 is a tax form that gets forwarded to the Social Security Administration. The W-3 forms are required to be sent out by the end of February. When someone fills out their W-3 form, they must ensure that the totals match the totals on the W-2 form.
At Xpert Bookkeeping, we handle creation of W-2 and W-3 forms. We want to make sure you are handling your reporting of tax records accurately. Contact us and we can help you out!