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Payroll Year-End Procedures

Working with Form W-2 at Year-End

Forms W-2 are one of the biggest concerns for employers and employees at year-end.

Here are some tips to help you issue Forms W-2 to your employers and employees:

  • After the last payroll of the year, enter wage changes for the new year.
  • Make sure that all employee information is correct and that all employee wage information is accurate.
  • Print Forms W-2 on plain paper first to check the alignment of the forms and to determine if errors exist.
  • The totals on the Form W-3 must equal the total of the quarterly Forms 941 with the exception of Medicare and FICA. The totals in these fields on the Form W-3 are one-half the totals in the same fields on the Form 941.
  • When printing on laser printers, you can print Forms W-2 one copy at a time.
  • When entering Form W-2 information, the Total Gross amount under Transaction Information does not always match the total in Box 1. This can occur if the employee has adjustments such as retirement that reduce taxable wages. The gross amount that displays under Transaction Information includes all wages, whether they are taxable or not, but Boxes 1, 3, 5, and 16 include only taxable wages.
  • The W-2 Extract allows you to create, view, edit, print, and copy an extract file of your employees' W-2 information if you prefer to submit your Forms W-2 electronically. The IRS requires employers with 250 or more employees to file electronically.
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Last updated: December 15, 2023