Unit: Payroll

Form 1098-T available soon

Man Filling out Tax Form --- Image by © Royalty-Free/Corbis

If you are eligible to receive form 1098-T (Tuition Statement) your 2020 form 1098-T will be available by January 31.

Reporting paid COVID-19 sick or family leave on form W-2

Hand of Friendship sculpture by William Wright, located on the Quad near Hovey Hall

The Families First Coronavirus Response Act (FFCRA) required that qualifying employers provide paid sick and family leave to eligible employees between April 1, 2020 and December 31, 2020. Under the FFCRA, employees could receive paid leave in the following situations: Ten days of paid sick leave at the employee’s regular rate of pay: Employees who

HSA contributions reported in form W-2 Box 12, Code W

A hand dropping a penny into a half filled piggy bank.

If an employee has an amount reported in box 12 of their Form W-2 (Code W) for employer contributions to your health savings account (including contributions through a cafeteria plan), then the employee should complete IRS form 8889 Health Savings Account.

Affordable Care Act tax forms 1095-B and 1095-C

image of an Affordable Care Act document on an American flag. Text on image reads Affordable Care Act

Per Internal Revenue Service (IRS) guidance, forms 1095-B and 1095-C are for record keeping purposes only and are not required to be filed with an individual’s 2020 tax return. Currently, the forms will be mailed or electronically distributed by March 2, per IRS requirements.

Possible federal tax refund due to the Earned Income Credit (EIC)

Close up view of the income tax return

Illinois State University employees may be eligible for the federal Earned Income Credit (EIC). It is a benefit for working individuals with low to moderate income. To qualify, individuals must meet certain requirements and file a tax return, even if individuals do not owe any tax or are not required to file. The EIC reduces