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Comptroller: Don’t be left in the cold on payday

The Comptroller's Office offers housekeeping tax tips and reminders about campus holiday closures.

As the semester comes to a close and holidays are near, employees should be aware that Wednesday, November 26, 2014, and Tuesday, December 23, 2014, are pay dates and University closures dates should be noted.

Employees who receive a “hard copy” payroll check should make arrangements to pick up their checks by the close of business on November 26, 2014, and December 23, 2014, at the Cashier’s office located in the Student Accounts Building. As usual, a photo ID and signature is required for pickup.

Due to University closures the Cashier’s Office will be closed from 4:30 p.m. Wednesday, November 26, 2014, through 8:30 a.m. Monday, December 1, 2014; through 8:30 a.m. Monday, December 1, 2014, and closed at 4:30 p.m. Tuesday, December 23, 2014, and will open at 8:30 a.m. Monday, January 5, 2015.

Now is a great opportunity to consider saving time by enrolling in the direct deposit program. More than 92 percent of Illinois State employees have already enrolled because it’s the fastest and most convenient way to receive your paycheck.

It is easy to sign up. Simply log in to iPeople and select Self Service-Payroll & Compensation-Direct Deposit.

End of year tax reminders

2014 tax forms

The University Payroll Office encourages all employees to maintain accurate iPeople addresses throughout the year. However, as the 2014 calendar year concludes, it is especially important for tax purposes.

Although W-2s will be available online, a paper form will also be mailed by January 31, 2015. The Payroll Office home page will be updated with a notice when the forms are mailed. Each year, a significant number of Form W-2s are returned to Payroll due to incorrect addresses.

To easily confirm a mailing address, simply review it in the upper-left corner of the pay advice located by logging into iPeople and selecting Self Service-Payroll & Compensation-View Paycheck. Employees may make address changes by following the instructions posted online. Changes should occur no later than January 5, 2015, to be included in the 2014 Form W-2 processing.

For certain foreign employees, the 2014 1042-S Forms (Foreign Person’s U.S. Source Income Subject to Withholding) will be mailed by March 15, 2015, as required under Internal Revenue Service regulations. Again, the Payroll Office home page will be updated with a notice when those forms are mailed.

Form W-4 notices

  • Review time

It is time for employees to review their current Form W-4 (Employee’s Withholding Allowance Certificate) status for preferred changes in filing status and/or number of allowances needed for tax year 2015. Current tax withholding elections may be easily viewed in the upper-right corner of the pay advice found in iPeople and selecting Self Service-Payroll & Compensation-View Paycheck.

The IRS has an online calculator which may be helpful to employees making withholding decisions.

  • Claimed tax exempt for 2014?

All employees who claimed total exemption from income tax withholding in 2014 must submit a new 2015 Form W-4 by February 15, 2015, to continue to claim exemption from withholding in the new year. After that date, Illinois State must begin withholding income tax if the 2015 Form W-4 is not submitted.

  • W-4 requirements for international employees

International non-resident employees must not fill out a new W-4 or make changes to an existing W-4 without guidance from a tax specialist in the Comptroller’s Accounting office. Appointments to make W-4 changes, confirm mailing addresses, and renew treaty benefits (if applicable) may be made by calling (309) 438-3106 or e-mailing bybanwa@ilstu.edu.

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