Business and Financial Services News

Tax Season Updates from UC Merced’s Tax Services

As the April 15 deadline to file federal and state tax returns approaches, UC Merced’s Tax Services offers the following reminders and updates:

• Delayed federal filing for certain tax forms to include Form 8863 (began on Feb. 14):
  
  • American Opportunity Credit (up to $2,500)
  • Lifetime Learning Credit (up to $2,000)

• Business mileage rate increased to 56.5 cents effective Jan. 1, 2013
•  E-waste fees were reduced effective Jan. 1, 2013
• E-waste reporting to the state Board of Equalization changed from annual to quarterly with the first report due on April 30
• Sales and use tax rates increased by .25 percent statewide
• Merced County's rate is now 7.5 percent
• City of Merced rate is now 8 percent
• Additional sales and use tax accounts established:
  
  • Wawona - 8 percent
  • Oakhurst - 8 percent
  • UC Davis - 7.5 percent
  • UC Berkeley - 9 percent

• Property tax exemptions (resulting in refunds to the UC) and possessory interest reports were filed by Feb. 15 for Merced and Fresno counties

If you have any campus tax-related questions, feel free to email Tax Services at tax@ucmerced.edu or contact the Tax Services Manager Kiran Samran at 228-4075. Helpful information is also accessible on the Tax Services website, at http://tax.ucmerced.edu. 

Upcoming Meetings and Training

• Don't miss the next campus Purchasing meeting on March 6 from 1:30 - 3 p.m. in KL 232. Buyers will gather to share vendor information and purchasing procedure updates and advice.

• Join the monthly AO/MSO Meetings on March 19 from 10:45 a.m. to noon in KL 232 to hear campus updates, requirements, training and support information.  The AO/MSO meetings are held on the third Tuesday of every month.

• If you missed February’s Purchasing, FAU and CatBuy trainings, plan ahead for the next round scheduled in mid-April. These sessions are required for certain positions on campus but are also informative for any staff and faculty who want to familiarize themselves with the University’s purchasing protocols. Visit the training website for more information.

• The training website lists upcoming classes designed to help uers with CatBuy, SharePoint and other systems and protocols used on the job. Visit the site to see what is available.

In-Person Payroll Assistance
Every Friday, a payroll department expert is stationed in KL 201 from 8 a.m. to 5 p.m. to discuss employee concerns without making a formal appointment. If you have payroll-related questions you may also contact the department by phone at extension 2729 or by email at payroll@ucmerced.edu.