Form W-3 displays totals for which of the following?

Form W-3 serves as a summary transmittal form that accompanies Form W-2. It consolidates the total earnings and federal taxes withheld for all employees for whom W-2 forms have been issued in a given tax year. This makes it crucial for reporting purposes to the Social Security Administration (SSA) and the Internal Revenue Service (IRS).

Choosing wages and federal taxes reported on W-2 as the correct answer highlights its specific role in summarizing the financial data reflected on the individual W-2 forms. Essentially, this means that the W-3 aggregates critical payroll data, ensuring compliance with federal reporting requirements and aiding in the accurate assessment of payroll tax liabilities across all employees.

In contrast, the other options relate to information that is not summarized on Form W-3. Employee bonuses and raises are specific to individual employee compensation and are included in the W-2, but they do not represent the aggregate nature of Form W-3. Similarly, employee performance summaries and yearly payroll adjustments do not pertain to the tax reporting that Form W-3 is designed to compile.