Important information regarding distribution of W-2s
Employees’ 2007 IRS Form W-2s will be distributed from University Tax Services (Room 24, Tigert Hall) by January 30, 2008. Employees will also receive an Employee Year-End Earnings Statement.
Departmental payroll administrators must distribute the 2007 W-2s to employees on or before January 31, 2008. Mailed forms must be postmarked by January 31, 2008. W-2 forms that are returned by mail to departmental payroll administrators must be submitted to University Tax Services for safekeeping in compliance with IRS Regulations.
The earnings statements will assist employees in comparing the amounts on the W-2 form to the earnings, deductions, taxes, and net pay on their last biweekly earnings statement for 2007. It will also include other nontaxable items and the university’s contributions on behalf of the employees.
Employees may use the following calculation to match their calendar year-end gross earnings to their net pay as provided on the Employee Year-End Earnings Statements.
Employee’s Gross Earnings |
Add: |
Non Salary Earnings* (Not included in Gross Pay) |
|
=Total Income |
Less: |
Before Tax Deductions |
|
=Total W-2 Earnings |
Less: |
Non Salary Earnings * (Backed out for Net Pay calculation) |
Less: |
Tax Deductions |
Less: |
Other Miscellaneous (After Tax) Deductions |
|
=Net Pay (Calendar Year) |
Nonresident aliens receiving IRS 1042-S forms will not receive Employee Year-End Earnings Statements.
Additional information about Employee Year-End Earnings Statements and 2007 W-2 forms may be found beginning on slide 8 of this online PowerPoint guide.
If you have questions or didn’t receive a 2007 W-2 form or an Employee Year-End Earnings Statement, please notify University Tax Services at 392-1324 or e-mail fa-tax-forms@admin.ufl.edu.
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