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2019 W-2 tax forms will be available in Workday by January 31, 2020. It is recommended that you elect to receive only an electronic copy of your year-end tax document. This election will help safeguard your sensitive information by reducing the risk of mailing errors or lost/stolen forms and provides you earlier access to your form.
Please follow the steps below to make your paperless election under the Pay worklet in Workday by December 31, 2019:
- Log into Workday and click the Pay
- Under View, select My Tax Documents.
- Under Printing Election, click Edit.
- Select Receive electronic copy of my Year End Tax Documents, then click OK.
- Review the new printing/deliver election, then click Done.
Your election will remain valid for future tax years.
NOTE: Unless you elect otherwise, your W-2 will be sent via U.S. mail to your mailing address on file. To prevent your personal information from being sent to an incorrect address, you must update your mailing address in Workday before December 31, 2019. To change your information in Workday, click here to review the Change Contact Information tip sheet.
Review Your Tax Withholding Status for 2020
The 2020 Form W-4, Employee’s Withholding Certificate, has a new design. The new design reduces the form’s complexity and increases the transparency and accuracy of the withholding system. You will not be required to complete a revised form. However, the IRS encourages using the Tax Withholding Estimator to perform a quick “paycheck checkup” and determine if withholding adjustments are needed. The IRS has also published Frequently Asked Questions on the upcoming 2020 Form W-4. Note: The IRS has not released the final draft of the form. Additional updates will be communicated once this information is available.
Exempt W-4 Expires on February 15, 2020
If you are currently claiming “exempt” from withholding tax and wish to continue this exemption in 2020, you must complete the new 2020 W-4 by February 15, 2020. An exemption is only valid for one year. If a new W-4 is not received, we must begin withholding Federal income tax as single, with zero withholding allowances. Instructions will be released once the IRS has finalized the new W-4 Form.
2020 Social Security Changes
The Social Security Administration (SSA) has announced that the 2020 social security wage base will increase to $ 137,700 (from $132,900 in 2019). The maximum social security tax that employees and employers will each pay in 2020 will increase to $ 8,537.40 (from $8,239.80 in 2019). There is no limit on the wages subject to Medicare tax; covered wages are subject to the 1.45%. Taxable wages in excess of $200,000 are subject to an additional Medicare tax rate of 0.9%.
2020 Foreign National Information Form for International Employees
Non-Resident Alien employees who currently hold a Visa such as F-1 or J-1 should complete and submit a 2020 Foreign National Information Form. This information is submitted via the Foreign National Information System (FNIS). If you do not currently have a user name and password for FNIS and would like to request access to submit your paperwork, please submit a request via this form.
If you have any questions, click here to contact the HR-Total Rewards, your pay and benefits team or call (305) 284-3004.
Thank you.
Human Resources
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