Overview
At the end of the year, Heard will request specific reports and tax forms to make year-end adjustments to your books. This ensures that your Profit and Loss Statement more accurately reflects your true income and expenses for the tax year to prepare for filing annual tax returns.
What is a W-3 form, and who needs to upload it?
Form W-3 is a tax form used by the employer to report employee income to the IRS. It reports the total employee wages, taxable wages, and tax withholdings for the year.
If your private practice is structured as an S Corporation and you pay yourself or other employees through payroll, your payroll provider is required to submit a W-3 form to the IRS. Additionally, you will need to include this form with your annual tax returns.
Where can I find the W-3 Form?
You will need to log in to your payroll provider account. Typically, there is a tab for “Tax” documents or reports, then search for W-3. If you are unable to find the W-3 tax form, please contact your payroll provider.
Please note: For Heard Payroll customers, this is an automated process for Gusto users who have given us admin access.
How can I upload it to Heard?
To upload this report, go to Your Practice>Documents>Bookkeeping and next to 2024 Form W-3
click Upload.