News from Business and Financial Services
January 14, 2013
Reminders from Payroll Services for Transitioning into 2013
2012 W-2 forms
- Electronic Form W-2 will available the third week of January. The sign-up deadline has passed to access the form electronically for the 2012 tax year. Employees interested in receiving next year’s form electronically can find online instructions on how to sign up.
- This year, paper W-2 forms will be mailed to employees’ home address on file in the payroll system. Instructions on how to update your home address are available online. Paper W-2 forms will be postmarked by Jan. 31.
How the 2013 Federal Income Tax rates affect you
The new tax legislation Congress approved Jan. 1 may affect the 2013 federal income tax withholding from your paychecks.
The tax rate will go up for individuals earning $400,000 or more a year and for families making $450,000 or more. All rates reflect the annually inflation-adjusted income brackets.
UC is updating its payroll system to start withholding at the new tax rates before the Feb. 15 deadline set by the Internal Revenue Service. The new tax rates will be reflected in paychecks issued on or after Feb. 15.
Upcoming Meetings and Training
- Visit training.ucmerced.edu to find future opportunities for classes designed to help you with CatBuy, SharePoint and other systems and protocols used on the job.
