W-2 Form Processing
Each year the Federal government requires that the employer send a W-2 Form to each employee that received wages for the previous year. Total Office Manager allows you generate W-2 Forms quickly and easily. It also gives you the ability to add any special items that Total Office Manager does not automatically include.
Who must file Form W-2?
Employers must file Form W-2 for wages paid to each employee from whom income, social security, or Medicare tax was withheld or income tax would have been withheld if the employee had claimed no more than one withholding allowance or had not claimed exemption from withholding on Form W-4.
Also, every employer engaged in a trade or business who pays remuneration for services performed by an employee, including non-cash payments, must furnish a Form W-2 to each employee even if the employee is related to the employer.
Please note that if you are required to file 250 or more W-2 forms, you must file them electronically unless you got a waiver from the IRS.
From the main menu, click Employee > W2 and W3 (Wage and Tax Statement).
Select a year from the drop down menu and click Calculate to create new W2 forms. You will be prompted for an optional control number. The Control Number field appears on the IRS W2 form. Total Office Manager does not require this number. Most businesses will not need to enter a control number. It does not matter if you enter one or not.
Select a year from the menu and click View to see the W2 forms. If there is no data for the year selected, it is automatically generated. The W2 window then opens.
The user can then edit any field (with a white background) on the form. When finished, they can choose ‘Recalculate’ from the W2 Processing form (shown above).
W2 processing (and W2) is very important and accuracy is essential. Please see your accountant if you need specific help for your business.