Form W-3 | Meaning and Definition

What is a Form w3? 

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
• Total Medicare Tax withholdings
• Total federals and state income tax withholdings