How To Print W2 In QuickBooks Online?

I. Introduction

Printing W-2 forms is an important task for businesses using QuickBooks Online to accurately report employee wages and taxes to the Internal Revenue Service (IRS). QuickBooks Online provides a streamlined process to generate and print W-2 forms for your employees. In this guide, we will provide you with a step-by-step walkthrough on how to print W-2 forms in QuickBooks Online.

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II. Preparing for W-2 Printing

1. Verify Employee Data: Ensure that all employee information, including Social Security numbers, addresses, and wage details, is accurate and up to date in QuickBooks Online.
2. Review Payroll Setup: Double-check that your payroll setup is complete and accurate, including tax setup and any necessary adjustments or corrections.
3. Confirm Tax Forms Availability: Make sure you have the necessary forms and envelopes for printing W-2 forms. You can purchase pre-printed forms from authorized vendors or use blank perforated paper that is compatible with your printer.

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III. Setting Up W-2 Preferences in QuickBooks Online

Before printing W-2 forms, you need to set up the W-2 preferences in QuickBooks Online. Follow these steps:

1. Sign in to your QuickBooks Online account and go to the “Payroll” or “Workers” menu.
2. Select “Employees” from the drop-down menu.
3. Click on the “Payroll Settings” tab.
4. Under “Forms,” click on “Year-End Forms.”
5. In the “W-2” section, click on the “Set Up” button.
6. Review and adjust the preferences as per your requirements, including options for employee consent to receive electronic W-2s.
7. Click “Done” to save the preferences.

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IV. Generating and Printing W-2 Forms

1. Launch the W-2 Generation:
   • Go to the “Payroll” or “Workers” menu in QuickBooks Online.
   • Select “Employees” from the drop-down menu.
   • Click on the “Year-End Forms” tab.
2. Select the Tax Year:
   • Choose the appropriate tax year for which you want to generate W-2 forms.
   • Click “Let’s get started” to proceed.
3. Review Employee Data:
   • QuickBooks Online will display a list of your employees.
   • Review the employee information displayed on the screen, including Social Security numbers and addresses.
   • Make any necessary corrections or updates if required.
4. Generate W-2 Forms:
   • Select the employees for whom you want to generate W-2 forms. You can choose to print forms for all employees or select specific individuals.
   • Click “Continue” to proceed.
5. Review and Edit W-2 Information:
   • In this step, you’ll review the wage and tax data for each employee.
   • Verify that the information is accurate and matches the employee’s records.
   • If any adjustments are necessary, click on the “Edit” button and make the required changes.
6. Choose W-2 Printing Options: Select the desired printing option for the W-2 forms. You have two options:
   • Print W-2s on pre-printed forms: If you have pre-printed W-2 forms, choose this option. Ensure that the forms are loaded into the printer.
   • Print W-2s on blank paper: If you are using blank perforated paper, choose this option. QuickBooks Online will print the form and employee information on the blank paper.
7. Print W-2 Forms:
   • Review the information on the screen, including the number of copies to print and the print destination.
   • Click “Print” to start printing the W-2 forms.
   • Follow the on-screen instructions to complete the printing process.

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V. Distributing W-2 Forms to Employees

Once you have printed the W-2 forms, you need to distribute them to your employees. Follow these steps:

1. Separate W-2 Forms: Carefully separate the printed W-2 forms, ensuring each employee receives their respective form.
2. Distribute to Employees: Provide each employee with their W-2 form in a sealed envelope. You can also include a cover letter or instructions if necessary.
3. Retain Copies: Keep copies of the W-2 forms for your records. These copies will be useful for tax filing and future reference.

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VI. Filing W-2 Forms with the Social Security Administration (SSA)

After printing and distributing W-2 forms to your employees, you need to file copies of the forms with the Social Security Administration (SSA). QuickBooks Online provides an option to file electronically through QuickBooks Online or manually file paper copies. Follow these steps:

1. Electronic Filing (Optional):
   • From the “Year-End Forms” tab in QuickBooks Online, click on “File Electronically” if available.
   • Follow the on-screen instructions to complete the electronic filing process.
2. Manual Filing:
   • Obtain the required forms from the IRS and SSA websites or authorized vendors.
   • Print the necessary copies of the W-2 forms on the appropriate forms.
   • Mail Copy A of the W-2 forms, along with the required transmittal form (typically Form W-3), to the SSA according to their instructions and deadlines.

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VII. Conclusion

Printing W-2 forms in QuickBooks Online is a streamlined process that ensures accurate reporting of employee wages and taxes. By following the steps outlined in this guide, you can set up the necessary preferences, generate the W-2 forms, and print them for distribution to your employees. Remember to review and verify the data before printing, and consider filing electronically or manually filing with the SSA to comply with reporting requirements. With QuickBooks Online, you can efficiently manage your payroll and maintain compliance with tax regulations.