Learn how to file a W-2 form in QuickBooks

Confused on how to file W-2 forms in QuickBooks? Filing W-2 forms might sound complicated, but it is quite simple to fill out the W-2 form. All that is required is a simple format and explanation in easy language. The W-2 form is important for employees, employers, and the government.

Considering the importance of the W-2 form and its nature, we covered everything in this blog to fulfill your requirements. 

	W-2 Form	W-3 Form
Reports	An individual employee’s wages and tax withholdings.	The combined totals of all employee wages and withholdings for the company.
Issued by	The employer.	The employer.
Received by	The employee, the SSA, and the tax authorities.	The SSA only (not the employees).
Purpose	To allow employees to file their personal income tax returns.	To act as a cover sheet for the SSA and help it verify that the individual W-2 information matches the company’s totals.

Set up automatic payments of your taxes and file your forms using QuickBooks 

QuickBooks Online Payroll

• Click on Settings and choose Payroll Settings.
• In the Form W-2 printing, click on Edit.
• Now, select I’ll print and mail W-2s to my employees.
• You can give your employees the choice to use paperless W-2 forms. 
• Now, you can print your W-2 form.

Read More – QuickBooks Form 940

Step 1: E-file your W-2s

• Log in to your QuickBooks Online account. 
• Click on Taxes and choose Payroll tax. 
• Click on the Filings Tab.

• Fetch W-2 Copies A & D (Employer) in the Action Needed section.
• Click on File, and if prompted, you can highlight employees who used to be active participants in their retirement plan during the tax year.

• On your Employer Copies screen, click on the Form W-2 page and select View.
• This will open Acrobat Reader.
• Now, you can review and print Copy D for your personal records.
• Once QuickBooks processes your W-2 filing, the application will send an email to notify you of its completion. If you want, you can check the filing status:
• Click on Taxes and select Payroll tax. 
• Click on Payroll forms or filings and then choose W-2. 

Learn More – How to E-file QuickBooks Form 941 

QuickBooks Desktop Payroll Enhanced

Step 1: Set up your W-2 E-filing

• Launch QuickBooks.
• Click on Employees and choose Payroll Center.
• You need to open the QuickBooks Desktop Payroll Setup.
• Click on the Change Filing Method from the Other Activities. 
• Now, hit Continue and choose Federal Form W-2/W-3 from the forms list.
• Click on Edit.
• Now, select the option E-file and click on Finish. 
• Close the windows of View Enrolments.
• Click on Finish Later.

Step 2: Create your W-2 Forms

• Click on Employees and then Payroll Tax Forms and W-2s.
• Click on Process Payroll Forms.
• Select Annual Form W-2/W-3 – Wage and Tax Statement/Transmittal from the File Forms section.
• Click on the Create Form.

Step 3: Send your W-2s

• Click on All Employees from the Process W-2s.
• Enter the year of the form you are filing from the Select Employees Filing Period and hit OK.
• Select the employees, and click on the Select Employees for Form W-2/W-3 windows. 
• You may also click on Mark All to select all the concerned employees.
• Click on E-File Federal Forms.
• You need to enter your email address and business phone number and click on Submit.  

Step 4: Print your W-2s and send them to your employees 

Now, you would be able to print W-2 forms.

Step 5: Upload your W-2s to QuickBooks Workforce for your employees to view 

Conclusion 

W-2 forms are official tax forms that you, as an employer, can issue to each employee and the Social Security Administration. In other words, it is popularly known as the Wage and Tax Statement. In this guide, we have covered everything you need to successfully fill out the W-2 form in QuickBooks. 

Frequently Asked Questions

What is a W-2 form?

A W-2 form is the official tax form that you can use to file annual federal and state income tax returns. This form is also known as the Wage and Tax Statement and provides important figures for your taxable wages and the total taxes that you must have paid. 

Why is the W-2 form important? 

We have three parameters on the basis of which we can analyse the importance of the W-2 form:

• For Employers: It is legally required that every employer must complete the taxation process every year. 
• For employees: Filing and paying the tax every year is an essential part of a job. It gives an employee the taxable wages and the exact salary they are receiving every year.
• For the Government: The IRS, which is the government, uses W-2 to check and confirm that the income and withholding amounts reported on your tax return must match what the employer has reported.

What is the key information on a W-2 form?

While the form contains several boxes, some of the most important include: 

• Box 1 (Wages, tips, other compensation): Your total taxable wages for federal income tax purposes.
• Box 2 (Federal income tax withheld): The total amount of federal income tax you, as an employer, withheld from your employees’ pay. 
• Box 3 (Social Security wages): The portion of your wages subject to Social Security tax.
• Box 4 (Social Security tax withheld): The Social Security tax your employer withheld.
• Box 5 (Medicare wages and tips): The portion of your wages subject to Medicare tax.
• Box 6 (Medicare tax withheld): The Medicare tax your employer withheld.
• Boxes 15–20 (State and local taxes): These boxes provide information on your state and local wages and tax withholdings.