January 28, 2016
Tax forms relating to furlough days payment to be mailed
Faculty, staff and former employees who received payment in 2015 for furlough days taken during the 2011 fiscal year will receive a 1099-INT form in the mail in the next few days.
The amount on the form is taxable income and represents interest calculated on wages that were subject to the furlough days. The salary component of the furlough payment will be included on W-2 forms for the 2015 calendar year.
Contact Human Resources at 536-3369 with any questions. Additional end of year tax guideline tips are available here.