The form W-3, also known as the “Transmittal of Wage and Tax Statements,” is a document used by employers to report the total wages, tips, and other compensation paid to employees during the tax year. It is a summary of all the information reported on the individual employee’s W-2 forms. The W-3 form is submitted to the Social Security Administration (SSA) along with copies of all W-2 forms for the purpose of verifying the accuracy of the information reported and ensuring that the appropriate taxes have been withheld and paid. This form is typically due by the end of January each year for the previous tax year. It is important for employers to accurately complete and submit the W-3 form to avoid penalties and ensure compliance with federal tax laws.
