The University Record, January 17, 1994

W-2 forms will be mailed this week

Form W-2 Wage and Tax Statements for 1993 will be mailed this week to University regular and part-time employees who received earnings in 1993.

The format of the 1993 Form W-2 has been revised significantly to comply with Internal Revenue Service W-2 uniformity requirements, according to the Payroll Office.

Federal and state taxable wages listed will exclude any tax-deferred retirement contributions. However, such contributions were subject to Social Security and Medicare tax and are therefore included in Social Security and Medicare wages. Separate boxes on the W-2 will indicate whether the staff member was enrolled in a retirement plan and the amount of retirement contributions that were “elective” tax-deferred contributions. The total tax-deferred retirement contributions are indicated in a separate footnote on the W-2.

Also excluded from federal/state and Social Security taxable wages will be any pre-tax health insurance and group life insurance premiums deducted in 1993 as well as dependent care/medical reimbursement account deductions. Dependent care deductions will be summarized in a separate box on the Form W-2.

Also itemized separately are such special payments as group life insurance income, uniform allowance and moving expense reimbursements, which are included in federal and state taxable income totals.

Staff members who had city income tax withheld in 1993 will also receive a Form CW-2 for the appropriate city in a separate mailing.

Staff members receiving royalty payments during 1993 will receive a separate Form 1099-Miscellaneous Income for those payments.

Errors in Social Security numbers should be reported to the Payroll Office. Questions about information on W-2 forms should also be directed to the Payroll Office, 2032 Administrative Services Building, 764-8267. Individuals who do not receive a W-2 form by Jan. 31 should call 764-8250.