Transcription of Delaware Withholding Form W3 Annual Reconciliation ...
1 Delaware Withholding Form W3 Annual Reconciliation INSTRUCTIONS The W-3 Annual Reconcilia tion/Transmittal Form must be filed on or before the la st day of Ja nuary a nd must be a ccompanied by a duplicate of each statement of Income Tax Withheld (Federal Form W-2) issued to employees during the yea r. Be sure to check the box on the W-3 form if filing on ma gnetic media. All employers who are required to file W-2s a nd 1099s electronically for federal purposes a re now required to file those returns electronically for Dela ware. Include only those employees who have Dela ware wa ges. Fa ilure to comply will result in penalties equal to one-half the amounts specified in the Internal Revenue Code for the same requirement.
2 Specific Instructions Account Number Enter your a ccount number. 1st Check Box Check the box if W2 a nd/or 1099s a re being submitted Electronically 2nd Check Box Check the box if you a re filing a cha nge form a nd complete the space provided. Taxpayer Name Enter your full name. Taxpayer Address Enter your current address. Line 1 Enter the total a mount of the Dela ware wa ges. Line 2 Enter the total number of W-2s a nd/or 1099s. Withholding Worksheet Enter the a mount of tax paid and tax withheld for each month of the year from your payroll records. Line 3 Add the a mount of Dela ware Income Tax Withheld from the worksheet (per W-2s a nd 1099s), compare that a mount to the amount withheld.
3 These amounts must equal, if they do not, determine where the error occurred and make a ny necessary correction(s) on the worksheet. Line 4 Add the a mount of Dela ware Income Tax Pa id from the worksheet (per W-2s a nd 1099s), compare that amount to the amount paid. These a mounts must equal, if they do not, determine where the error occurred a nd make any necessary correction(s) on the worksheet. Line 5 Subtra ct Line 4 from Line 3. (5a). If Line 3 is less tha n Line 4, a n Underpayment exists. Enter the Balance Due a mount a nd remit the total a mount due with this return . Section 537 of Title 30 of the Dela ware Code provides that no credit or refund will be ma de to a ny employer if the employer was required a nd deducted Delaware Withholding taxes from its employees.
4 In such case, the employee must file a Dela ware personal income tax return to cla im the over withheld income taxes. (5b) If Line 4 is grea ter than Line 3, then a n Overpayment exist. Enter the amount a nd be sure to a ttach an explanation of how the overpayment occurred. DO NOT ta ke a credit for any overpayment on your next return . An overpayment existing a t the end of the calendar year ca nnot be carried over to the next ca lendar year.
