The Internal Revenue Service (IRS) released a new Form W-4 for 2020. The Form W-4 is completed by the employee to let their employers know how much to withhold from their paychecks for federal taxes. Accurately completing the W-4 can help prevent owing additional taxes on income tax filing. It can also prevent overpaying taxes throughout the year.
The 2020 Form W-4, Employee’s Withholding Certificate, is very different from previous versions. This is due to the federal tax law changes made in 2018. The IRS is not requiring employees hired prior to January 1, 2020 to complete the revised form and has designed the withholding tables so they will work with both the new and prior year forms. All employees hired after January 1, 2020 or any employee who makes withholding changes during 2020 will be required to use the new form.
The IRS recommends you perform a “Paycheck Checkup”. Performing a “Paycheck Checkup” will allow you to see if you need to adjust your withholding on the new Form W-4. To conduct the checkup, you may use the IRS Tax Withholding Estimator . To effectively use the estimator, a copy of your most recent earnings statement from Payline and your 2018 tax return is needed.
If you do not submit a new 2020 Form W-4, withholdings will continue based on the previously submitted Form W-4.
If you have questions about submitting the new tax form, please call the Payroll Office at x7610. Inaccurate information on a tax form can void it entirely. While Payroll can help with understanding the form, Payroll employees are not authorized to offer tax advice; if advice is needed, please consult with a Tax Accountant.
The University is using XMedius SendSecure to securely send and receive highly sensitive documents with entities outside the University. XM SendSecure allows for the safe exchange and temporary storage of sensitive files in a virtual SafeBox. Use this link to send confidential information.
Don’t forget to update your directory information so that your W-2 information is correct. The online directory, Outlook directory and many other campus systems are updated automatically from Banner. If you have moved to a new location, be sure you update your contact information in Banner. Follow these instructions:
1. Login to MyRU
2. Click on the Personal Info icon
3. Under Personal Information, click the “Edit Personal Information” button
4. Select Manage My Addresses
5. Click the “Update Permanent or Mailing Address” button
If received as part of the terms of employment, the employee relocation assistance stipend is fully taxable income, per a provision in the Tax Cuts and Jobs Act, and is limited to one per household. The University will withhold all required federal and state taxes and will report all payments made under the term agreement as required by federal and state law. Taxes will be withheld from the relocation assistance stipend and reported to the Internal Revenue Service as income on the Employee’s Form W-2.
Payline provides you with the access to view and print your pay stubs for each payday. You will be able to view current pay information at least 4 days prior to the payday. With Payline access it is recommended that you opt out of receiving your direct deposit earnings notice. Sign up for Payline.
Last Updated: 1/22/2020