This is a tax form that employers use to report to the Social Security Administration and the IRS the total employee income. The employers who submit greater than one W-2 form to the employees are required to fill the form and submit it by mentioning every payment of the employees.
Information to be included in the W3 form:
Overall Social Security tax withholdings
Total wages paid to the employees over the year
Every business information of yours consists of Employer Identification Number, details about the legal address, and other details
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