QuickBooks W2 Form – Setup, Prepare, Report

Subscribers of QuickBooks payroll can use the service to fill and file their W2 forms with the IRS. The form is essential for reporting the wages given to full-time and part-time workers. Based on this form, the agencies decide how much to tax the employee. You’ll also figure out how much to withhold from an employee’s paycheck.

W-2 forms are circulated by the employer to his employee and respective IRS (Internal Revenue Service) at the end of a financial year. It inculcates details regarding the annual salary of the employee along with total taxes withheld within the same before generating an in-hand paycheck.

How to create W-2 forms in QuickBooks

To generate these imperative year-end tax forms in the QuickBooks software, the user needs to follow the steps illustrated below:

• From the main menu select the option ‘Employees’ followed by the tab called ‘Payroll Tax Forms & W-2s’ and then ‘Process Payroll Forms’.
• Next from the new menu click on ‘Annual Form W-2/W-3 Wage and Tax Statement/Transmittal’ and then select the option of ‘Create Form’.
• Now type in the required year details against the option ‘Select Filing Period next to Year’ for W-2 forms needed to be printed and then click on the tab ‘OK’.
• The above step will result in a pop-up with a message stating “QuickBooks Desktop only stores one version of each tax form.” Click on the OK tab.
• Now follow the instructions displayed on the window to complete the process.

How to Prepare W-2 Forms

Follow the steps mentioned below:

Step 1: Open W-2 Form

Choose Employees, Payroll Tax Forms & W-2s, Process Payroll Forms followed by Federal Forms under the Select Form Type screen, and then click on OK. Now select Annual Form W-2 from the new screen called Select Payroll Form windows, ensuring the year corresponds with the current year. Now click on OK.

Step 2: Choose Employees

Next, check the boxes against employees for whom the W-2 form needs to be prepared. In case the QuickBooks W2 form has to be generated for all the employees, just click on the ‘Mark All’ tab.

Step 3: W-2 Form Review

Select the Edit tab to view the QuickBooks W2 form generated for every employee selected in the above step.

Step 4: Editing Inaccurate Details

If any editing needs to be performed on the form, click on the Save & Close tab to return to the QuickBooks software to make corrections within the W-2 forms. Open the form, make the required changes, and then click on the Save & Close button to save the changes.

How to Report W-2 Form Income in QuickBooks?

To report W-2 Income in QuickBooks follow the steps below:

• Open QuickBooks -> Employees from the main menu bar -> Payroll Tax Forms & W-2s option followed by Process Payroll Forms.
• Click on Federal Forms -> Ok -> Annual Form W-2 / W-3 – Wage & Tax Statement option that will generate W-2 Statement (electronic form). In case there is an older version of the W-2 present in the system, the user will have the additional option of choosing the same before reaching the QuickBooks W2 form screen. For this, all the user has to do is checkmark the box against that employee and then click on the Review tab.
• In respective fields type in data related to Employees, which inculcates details of employees such as wages, compensation, withheld taxes inclusive of Medicare, Social Security as well as Federal; benefits and general employee details like Social Security Number.
• Type in details for State tax in case State Income Tax is collected, which includes ID Number (State), State Income Tax, Local Taxes paid State Wages, and a portion of Local Taxes withheld.
• Once all the required data has been filled, review the complete data and then select the tab labeled ‘Submit Electronically’ to electronically file the form.
• Lastly, click on either ‘E-File Federal Form’ or just ‘E-File’ in the pop-up window. In the new screen type in the required details of the Federal & State Agency. Once the form is filled for one employee same will be automatically done for other employees by QuickBooks.

How to Access Old W-2 Forms Records in the QuickBooks

Intuit does not support the recovery of W-2 Forms older than 4 years and thus, the user is recommended to access forms not more than 4 years.

For other recent forms try the following steps:

• Locate and click on the Employees tab from the main menu and then select the option ‘Process W-2’.
• In the new screen for W-2 click on the Year option in the top left section of the screen. A warning pop-up will appear indicating the year chosen is not in tandem with the current tax details.
• Select the tab ‘OK’ and then click on the ‘Mark All’ button to review the form or click on the Print tab to print the form.

Important Dates to File and Receive Forms – Deadline Dates to File W-2s

There are certain by which you should file your forms and receive them:

• Recipient Copy Due to Employee: 31st January 2024
• E-filing of W-2 Forms due to IRS – 31st January 2024
• Manual Filing W-2 Forms due to IRS – 31st January 2024

QuickBooks W2 deadline

The deadline to file W-2 forms electronically is January 30, 2024.

The exact needs of the federal agency you are filing with will determine the date for submitting W2 forms in QuickBooks. The W2 form submission date is typically in January or February of the following year. It is crucial to confirm the deadline with the individual organization you are submitting with.

How to Print W2 Forms in QuickBooks Desktop

To print W-2 forms in QuickBooks Desktop, go to the Payroll Center, select “File Forms,” choose “Annual Form W-2/W-3 – Wage and Tax Statement,” then follow the prompts to print the W-2 forms for employees. Ensure all employee data is accurate before printing.

Print QuickBooks W2 forms for employees

QuickBooks W2 forms are meant for your employees only. The forms can be purchased from Intuit and imported into QuickBooks. Filing the W2 forms is essential so that you can calculate the amount to withhold from the employee’s salary.

• Go to the “Employees” tab in QuickBooks and choose “Payroll Tax Forms & W-2s.”
• Either choose “Print Forms” or “File Forms Online.”
• Choose “W-2s”
• Put the employee’s name and pay in the field.
• Check the data to make sure it is accurate.
• When necessary, print the forms or submit them electronically.

Print QuickBooks W2 forms for multiple states

By entering the personal data and income data of your employees, you may use QuickBooks to generate W2 forms for those who reside in various states. You can print or electronically file the forms after they have been generated.

• Go to the “Employees” tab in QuickBooks and choose “Payroll Tax Forms & W-2s.”
• Either choose “Print Forms” or “File Forms Online.”
• Choose “W-2s”
• Enter the employee’s personal and pay information for each state.
• Check the data to make sure it is accurate.
• If necessary, print the forms and mail them in or submit them electronically. 

Just be sure you file them with the right state office. And you’ll have to check the filing instructions provided by your state. The process differs from state to state, so kindly do the due diligence before you file your state taxes.

print QuickBooks W2 forms for contractors

Contractors are non-employees. They work independently of the company. In QuickBooks payroll, you can record the information for your independent contractors, and use the information to later file tax forms.

Print QuickBooks W2 forms for 1099 employees

There’s no such thing as 1099 employees. The 1099 form has to be filled and filed for independent contractors, whereas the W2 form is for your employees.

Print QuickBooks W2 forms for remote workers

Remote workers are also your employees, even though they don’t physically come to your office. You need to report their wages through the W2 forms to the IRS. Failing to do so may get you penalized by the agency.

• Go to the “Employees” tab in QuickBooks and choose “Payroll Tax Forms & W-2s.”
• Either choose “Print Forms” or “File Forms Online.”
• Choose “W-2s”
• Enter the personal and compensation details for the remote employee.
• Check the data to make sure it is accurate.
• When necessary, print the forms or submit them electronically.

Print QuickBooks W2 forms for non-employees

Your non-employees include the independent contractors and the freelancers that you hire during a fiscal year. You generally pay them, not wages but an amount that isn’t particularly considered a salary. So you don’t file the W2 forms for them. You have to fill and file the IRS form 1099-NEC for your non-employees.

Print QuickBooks W2 forms for year-end

At the end of a fiscal year, you can pay all the bonuses and record the complete compensation that you’ve given to your employees. 

You need to remember that the wages of your employees include all the types of compensation that they received from you. This includes any bonuses or overtime payments that you made from your side.

Print QuickBooks W2 forms for self-employed

There’s no W-2 form for self-employed individuals. You cannot designate yourself as a worker for yourself. 

If you’re self-employed, then, instead of the W-2 form, you need to fill out and file Schedule C (Form 1040). 

Print QuickBooks W2 forms for independent contractors

Independent contractors are not your employees, so you need to file the 1099-NEC form for them unless the contractor is a corporation, in which case it obviates the need to create a W2 Form.

Print QuickBooks W2 forms for part-time employees

This can get tricky because your part-time employees may be considered a W2 employee or a 1099 worker. You need to realize how much control you’ve over your employees. If the part-time worker works for you the entire time they’re employed, then you have to report their wages through the W2 form to the IRS.

• Go to the “Employees” tab in QuickBooks and choose “Payroll Tax Forms & W-2s.”
• Either choose “Print Forms” or “File Forms Online.”
• Choose “W-2s”
• Enter the personal and compensation details for the part-time worker.
• Check the data to make sure it is accurate.
• When necessary, print the forms or submit them electronically.

Print QuickBooks W2 forms for foreign employees

You need to fill and file both the W2 form and the 1042-S form for your international employees. To report the wages to the local and federal tax agencies, you need to file the W2 form for the foreign employees.

• Go to the “Employees” tab in QuickBooks and choose “Payroll Tax Forms & W-2s.”
• Either choose “Print Forms” or “File Forms Online.”
• Choose “W-2s”
• Enter the personal and compensation details for the international employee.
• Check the data to make sure it is accurate.
• Print the forms as necessary, or submit them electronically, and be sure to follow any additional tax laws or rules for international workers.

Read More: Print W2 Forms in QuickBooks without Payroll Subscription

Conclusion

I hope that you found this post helpful. Tax preparation and filing can be complex, especially if you’ve employees. The different types of forms and the rules to fill and file them vary so much that the entire process can drive you crazy. Just get in touch with our tax preparation experts if you need any help with filing W2 forms with QuickBooks.