An employer is required to provide Form W-2, also known as the Wage and Tax Statement, to each employee and the Internal Revenue Service (IRS) at the conclusion of the tax year. The annual salary of the employee and the amount of taxes deducted from their paychecks are both listed on the W-2.
After issuing W2s to employees, there will be several requests for the replacement forms. QuickBooks Users use QB to handle payroll and accounting for their small and medium-sized businesses; following all the Internal Revenue Service guidelines, you can reprint W2 in QuickBooks.
What do Reprint or Print W2 in QuickBooks Mean
- A statement of pay and taxes, commonly referred to as Form W-2, is something you must annually provide to your employees.
- To file state and federal taxes, you need a W-2 form to show the amount of taxes withheld from your paycheck for the year.
- W-2s need to be handed out or mailed by January 31 of each year. Only workers need to prepare W-2s; if your company hires independent contractors, you should instead prepare 1099s for them.
- W-2s may have a little bit of a different format, but they all contain the same data: paid wages, taxes withheld, benefits deducted, etc.
- The specifics of the information included on the W-2s your business provides to employees depend on the structure of benefits and compensation in your organization.
- Consult your accountant if you have any concerns about what should be included on the W-2s for your employees.
IRS W2 Forms Printing Demands for QuickBooks Online
- Employees are required to fill out only 4-up blank printable forms.
- Printing W-2 forms only with non-reflective black ink.
- Use Intuit online payroll or QuickBooks online payroll only.
Use Steps Below to Access the W-2 and Reprint A Copy Of It
- Select the Employees option.
- Choose Process Payroll Forms after choosing Payroll Tax Forms and W-2s.
- Select the Annual Form W-2/W-3 – Wage and Tax Statement Transmittal under the File Forms tab, then click the Create Form button.
- Choose the employee’s name and the filing period in the File From window.
- Press the Submit Form button to carry on printing.
- To open the Print W-2 and W-3 Forms window, press the Print/E-file button.
- Print the Form.
Even, There is An Alternative Way to Reprint a W2 in QuickBooks Online
- Go to the Payroll Tax Center (PTC) in QuickBooks File and then click Employees, followed by Payroll Center.
- Next, pick View/Print forms & W2s from the File Forms menu.
- Enter your payroll subscription service PIN, then click “OK.”
- A list of the employees is now required on the W-2 page. You must select View/Print W-2 forms for all years if you don’t want to.
- To open the W-2 form, click the employee’s name from the list. If it still won’t open, click the employee’s W-2 while holding down CTRL and ALT.
Get a Free User Guide “Why to Upgrade to QuickBooks 2023”
Headache Huh, Looking to Upgrade from Your Current Version of QuickBooks?. But frustrated which version will be best suited according to your need. Don’t worry, Get a comprehensive list of reasons, why you should upgrade to the QuickBooks 2023 version.
Get these 20 tips on why to Upgrade to QuickBooks 2023.
Benefits of Electronically Receiving Form W2
- The W-2 statement can be accessed earlier than with typical paper delivery thanks to online delivery.
- Online distribution eliminates the possibility that the W-2 statement may be missing once the employee receives it or gets lost, misdirected, or delayed during delivery.
- Weekends included, employees have access to their W-2 statements 24 hours a day, 7 days per week.
- Employees are free to print additional copies as needed.
- Employees are helping to reduce costs (forms, printing and postage expense).
- W2 declarations will be accessible for several years online.
The Most Common W2 Errors & How to Prevent Them In A Easy Way Follow The Steps Below
- Incorrect or missing name or SSN–The IRS requires that employers fix errors in an employee’s name or Social Security number (SSN). When an employee’s name or SSN is left blank or displayed as “000 00 0000” or “applied for” after a valid SSN has been obtained from them, errors can occur.
- Working with a payroll provider that provides a single, cloud-based solution is a wonderful way to be proactive about W-2 errors. There are three advantages of use a centralized database:-
- Errors cannot occur because information is only entered once.
- The data is accurate since it is synchronized between payroll, HR, attendance, and benefits.
- A safe, centralized database is used to store the data.
Read This: Print 941 Form in QuickBooks
What are the ways to print W2 in QuickBooks Desktop?
It is not as easy as using QuickBooks online; you will need to follow all the steps very carefully.
Step 1: Open W-2 forms in QB Desktop
- Click on Payroll Tax Forms and W-2s under Employees.
- Select the payroll forms from the drop-down menu.
- Select the annual form W-2/W-3 wage and tax statement transmission.
- Hit create form button.
- Tap on the last name of the employee if you wish to file the forms for every employee.
- Hit OK after adding the year of the form you wish to print.
Note: In QuickBooks desktop, you can only have one version of the tax form, e.g., if you have the 2017 version, but want to print W-2 forms for 2016, you need the newer version.
- Select the employees you want to print the form for next.
- For printing, hit review/edit and then select submit form once you have reviewed all W-2 forms.
- Lastly, don’t forget to click print/e-file.
Step 2: To print W-2 forms, select the paper type and item
- Start by choosing between blank paper and preprinted forms.
- From the select item to print option, select who you want to print for.
In the case of employees
If using blank paper:
- Select 3 per page for copies B, 2, and C.
- Select 4 per page for copies B, 2, 2, and C.
- In case not preprinted on the paper, then choose the employee filling instructions as it is compulsory.
If using Preprinted Forms:
- W-2 Copy B, 2 per page for federal tax return & IRS filing.
- W-2 Copy 2, 2 per page for state and local tax department filing.
- W-2 Copy C, 2 per page for employees to keep it as a record.
- In case not preprinted on the paper, then choose the employee filing instructions (mandatory).
In case of Employer
- W-2 Copy D, 1 page per employee for employer’s record.
- For W-2 forms, select employer filing instructions.
In case of Government
- W-2 Copy A, 2 per page for SSA (Social Security Administration)
- W-2 Copy 1, 2 per page for state and local tax department.
STEP 3: Export the form to a PDF reader
- The first thing you need to do if you are using preprinted forms is a print test.
- Tap on the print PDF button after that.
- The printing process can now be started.
IRS Demands for Reprinting Employees W2 forms in QuickBooks
Make sure the payroll tax table is updated before reprinting W2s for employees
- A copy of each of 2, B, and C must be attached.
- It is mandatory to provide a copy of the W2 form filing instructions.
- The word Reissued Statement must be included on the W2 form.
How to Reprint W2 in QuickBooks Desktop?
Follow these steps if you wish to reprint your W2 form in case it is lost or misplaced. By following IRS requirements, you can reprint your W2.
- From the top menu bar, click on employees.
- Now, select the payroll centre.
- Click the annual form when you have moved your cursor to it.
- Scroll down to the drop-down menu; choose the employee for whom you wish to reprint the W2 form. After that, tap on the W2 copy B, C, and 2.
- Insert the year and click on view reprint. Add Reissued statement as per IRS requirements (only if you are reprinting).
- Hit on the view report. Now the w2 form will get opened in the new window in PDF format.
- Next, tap on continue.
- To reprint the W2 form, you can choose any option, such as blank/perforated paper or simple plain paper.
- In the file menu, select the Print option.
Reprinting W2 in QuickBooks using a substitute method
Listed below are the steps for reprinting W-2 in QuickBooks:
- On the employees page, click on payroll tax forms and then W2.
- The next step is to choose process payroll forms and then select filings from the filing history list.
- Select the link from the saved PDF column for the form you want to print first from the history column.
- To complete the task, hit the print icon.
In order to obtain information about the W2 form from the previous year
- Go to the reports menu.
- Now, choose Employees & payroll and then click on more payroll reports in Excel.
- Move your cursor to tax form worksheets and click on them.
- Next, go to the downloaded excel file, choose the annual W2.
- If you want to reprint W2 of the last year, then you can modify the year if required.
- Finally, hit create report.
Conclusion & Data Reconciliation for W2
Annual payroll reporting requirements comprise more than just printing and filing W-2s and other yearly forms. Even if you utilize QuickBooks Payroll, it’s imperative that you always reconcile W-2 information with your quarterly payroll forms (941s and state tax forms). Usually, before distributing W-2s and submitting them to the IRS and your state, everything will be in order and no revisions will be necessary. The time you will save by identifying modifications before you file the forms, however, will be immeasurable.
Frequently Asked Questions
Who Needs to Complete the W-2 Form?
If an employee’s personal or financial position changes and they need to change their withholding allowances as a result, they can complete a new W-4. W-2 form: Every year, by January 31st, you must submit a W-2 for each employee. The W-2 includes information from the previous year.
In QuickBooks, How do I Report W-2 Income?
Is it necessary for me to enter my W2 income into self-employed Quickbooks
the following steps:-
1. In the upper right corner, click the Gear symbol.
2. Select Tax Profile from the Taxes menu.
3. Enter the net pay in the Your yearly W2 Income box on the Tax Profile page.
4. Click Save.
How can I Obtain a W-2?
Some Steps to be follow below to retrieve w2:-
1. In the left navigation bar, select the Taxes tab.
2. At the top of the page, select Payroll Tax.
3. From the drop-down menu, pick All Employees or a specific individual.
4. Select the link for W-2, Copies B, C, and 2.
Is a W-2 Equivalent to a Tax Return?
Employers fill out Form W-2, which contains crucial data you need to finish your tax return. It lists your annual earnings as well as the amount of all taxes withheld from your paycheck on a federal, state, and other level.
What will Happen to My Taxes if I Don’t Include a W-2?
Even if you neglect to submit a W2, you will still get paid. However, if your tax return was filed incorrectly and you will now owe more money in taxes, you must file an amendment and pay the additional money by April 15. You face the risk of collecting late fees and penalties if you don’t do this.
Why do We Get our W-2 in Several Copies?
Beginning with the Federal. Multiple copies are required because some people choose to mail their returns rather than file them electronically, and a copy of the W2 is necessary to send with the return when it is mailed.