A W-3 form is a tax form used in the United States by employers to summarize the information from all of the W-2 forms issued to their employees for a given tax year.
The W-3 form provides totals for the wages, tips, and other compensation paid to employees, as well as the federal income tax, Social Security tax, and Medicare tax withheld from their pay. The form also includes the total amount of wages subject to Social Security and Medicare taxes, and the total amounts of those taxes withheld.
Employers are required to file a W-3 form with the Social Security Administration (SSA) along with the W-2 forms issued to their employees. The deadline for filing the W-3 form with the SSA is the last day of February following the end of the tax year.
The W-3 form is an important document that helps ensure accurate reporting of wages and taxes withheld for tax purposes. It also provides the SSA with information needed to properly credit the earnings of workers for Social Security and Medicare purposes.