January 08, 2015

End of year tax guideline tips for all employees

Now is time for all employees to ensure that their W-2 address is correct by checking your listed address via Human Resources' Self Service (HRSS) website and making any needed changes. Employees may also use an e-form to update their change of address and forward it to Human Resources, Mail Code 6520. As required by the Internal Revenue Service, W-2 tax forms for 2014 will be processed and mailed from Human Resources no later than Feb. 2, 2015. Employees may, if desired, view their W-2s through HRSS when W-2s are mailed.

As for exempt W-4 tax withholding forms, the time to renew is now. In mid-February of each year everyone with EXEMPT status will see the status expire, and IRS regulations require employee withholdings to be single and 0 if the exempt status is not renewed. Employees may re-file as EXEMPT via HRSS or by using a W-4 Withholding Allowance e-form and forwarding it to Human Resources. The deadline for filing the form is by Feb. 1.