Employee Relocation Changes
Recent passage of the Tax Cuts and Jobs Act removes the individual moving expense deduction effective January 1, 2018. This change will limit an employer's ability to pay and/or reimburse an employee's moving expense as a nontaxable payment. Please refer to the Employee Relocation Expense Changes document for details on how to process faculty/staff moves that occurred in 2017 as well as procedural guidance for moves occurring after December 31, 2017.
Tax Reform Legislation
UPDATE: President Trump has signed the bill into law, but we are still awaiting updates and guidance from the Internal Revenue Service.
As recently reported in the news, pending tax reform legislation, including changes to individual income tax rates effective January 1, 2018, is expected to be signed by President Trump in early January. As the Payroll and Tax Services office awaits final passage and implementation of the legislation, there will be a transition period before the new 2018 withholding rates are applied to individual wage payments. The IRS recently issued a statement indicating that the 2018 income tax withholding tables, and related guidance, will be issued in January 2018. Due to the timing of the updates, employees will likely begin seeing the impacts of the changes as early as February 2018.
Until the 2018 tax withholding tables and guidance have been released by the IRS and incorporated by our software provider, wage payments will continue to be processed at the appropriate 2017 individual income tax withholding levels.
Up to date announcements will be posted on the Payroll & Tax Services website as well as on the Payroll & Tax tab within the Raiderlink/Webraider portals. A follow-up email notification will be sent when the date for implementing 2018 tax withholding has been released.
W-2 and 1095-C Information
- In preparation for the end of the calendar year and the W-2 and 1095-C processes, Payroll & Tax Services highly recommends that all employees review and/or update their Permanent Address. The deadline for address updates is January 8, 2018.
- Employees can now consent to receive their 1095-C form electronically.
- Please visit the W-2 and 1095-C Information page for instructions on updating your Permanent Address and completing your electronic consent election.
Beginning October 01, TTU and SYS staff employees in a full-time non-exempt employee class will begin accruing compensatory leave time when working > 40 hours