Year End Memo 2021
Important Tax and Year End Information
2021 Final Paychecks
Payroll processing is slightly different at the end of December for hourly employees.
Tax Withholding Information
Social Security Wage Base and Medicare Tax Rates for 2022
The Social Security Wage Base will be $147,000 for 2022 for a maximum Social Security tax of $9,114.00. The Medicare tax rate will remain 1.45% on the first $200,000 of wages.
Changes in Filing Status
Please note that you are required to file a new Form W-4 for the next calendar year if your filing status or number of allowances has changed. Examples of a change in filing status or number of allowances are:
- You become divorced or legally separated.
- Your spouse dies.
- You were married.
- There has been a birth or adoption of a child.
If you have a change in filing status or allowances, you can complete a new Form W-4 for 2022 via Workday (Complete Federal Withholding Elections). You can do this now by effective dating your change!
Verification of Name, Address, Social Security Number and Residency Status
We are making every effort to mail W-2 forms to your correct address. Please take a moment to log onto Workday and verify that the address that appears on the top of your advice is the address that should be used to mail you your 2021 W-2. If you find errors, you can update your address information via Workday as well. Please make sure we have the correct spelling of your name as well as the correct Social Security Number on file.
Please Note: You should only be updating your home address in Workday.
Question: What if I don’t want my W2 mailed out? Is there an option to just have an electronic copy at my disposal?
Answer: Great Question! You have the option in Workday to opt out of receiving a paper copy of your W2. To do so, log into workday and click on the Pay app on your home page. On the next screen, you will see a tab for “My Tax Documents”. Click this tab to view the next screen that will display your Tax Form Printing Election. You have to option on this page to edit your printing election. If you wish, you can choose just to receive an electronic copy of your W2. When made available, you would simply log into Workday and print and/or save your W2 directly from Workday. No need to worry about your W2 getting lost in the mail or sent to a wrong address.
Also, if you are a Non-Resident Alien (NRA) for tax purposes, please make sure you have NOT paid FICA taxes (Social Security (OASDI) and Medicare). If you find that you are paying these taxes located on the right hand side of your pay stub under the heading “Employee TAXES”, please contact payroll to have these taxes adjusted for you before the end of the year. Doing so will create a much cleaner process for the University as well as the individual when getting tax documents prepared for the 2021 calendar year. We need to do this as soon as possible!
Requests for Duplicate Form W-2 for 2021
Original W-2s for 2021 will be mailed, per IRS regulations, by January 31, 2022 and will be available online via Workday on or before that date. Requests for duplicate W-2s must be made by completing a W-2 Request Form. In order to protect your privacy and ensure that only you receive the duplicate W-2 copy, we will not fax you a duplicate W-2, nor will we take the request over the telephone. Duplicate W-2s will be produced once a week and mailed to your home address.