Tax Forms are generally automatically calculated when you conclude payroll. For example, concluding December Payroll will have the FS3s and FS7s updated accordingly. So why is there an option to Regnerate Tax Forms?
Simply put, there are details, like employee ID number, or the company's principal, that may have changed. Rather than concluding an existing payroll, you can Regenerate Tax Forms
The Regenerate Tax Forms will recalculate the FS3s and FS7 and make use of any updated data.
How to Regenerate Tax Forms
- Go to Tax Forms Page
- Select either FS3 or FS7
- Select the relevant year (see below)
- Click Regenerate Forms, as in the image below
- A warning message will show, clarifying that the FS3, FS7 and submission files will be updated and regenerated. You can either Download existing forms, or Regenerate Forms.
- After a few moments, you will receive the below notification:
- You can go ahead and download the newly generated tax forms or files.
Any form generated by Buddy will have a date on the bottom left of the page, identifying the date it was last updated. Check this date to confirm that the forms you are downloading are the latest updated ones.