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Payroll DepartmentFaculty/Administrator/Support Staff FAQ's
Payday is on the last working day of each month. Do you offer Direct Deposit of my pay? Yes. Just follow the instructions on the Payroll Direct Deposit Authorization form and send it to the Payroll Department, Outreach Center. With each payroll, Direct Deposit Advice statements are brought to the campus post office for distribution one day prior to payday -- the money is deposited on payday. Paychecks are brought to the campus post office for distribution by 10:00 a.m. on payday. If you do not have a post office box, please check with your department for distribution procedures. Why do Salaried, Exempt Support Staff need to fill out a timecard? Salaried, Exempt Support Staff positions have been determined to be exempt from wage and hour regulations and thus are not eligible for overtime pay. As an exempt employee you do not have to record the number of hours worked, however, reporting hours not worked during any payroll period is required. This includes vacations, holidays, sick time, paid absences or unpaid absences. Why should I check my withholding and when should I check it? You should try to have your withholding match your actual tax liability. If not enough tax is withheld, you will owe tax at the end of the year and may have to pay interest and penalty. If too much tax is withheld, you will lose the use of that money until you get a refund. You should check your withholding if there are personal or financial changes in your life or in the law that might change your tax liability. The earlier in the year you check your withholding, the easier it is to get the right amount of tax withheld.
What are some financial factors?
How do I adjust my withholding? To increase or decrease withholding, fill out a new W-4 form and return it to the Payroll Department, located in the Outreach Center, Suite 208. To increase your withholding:
To decrease your withholding:
Do I put the same number of exemptions on my tax return as I put on my W-4 form? Not necessarily. What you put on your W-4 form are withholding allowances, not exemptions. An exemption is allowed on your tax return for yourself, your spouse (if married filing jointly), and qualified dependents (if you are a U.S. citizen or resident alien). You can claim the number of withholding allowance that you are entitled to based on the W-4 form worksheets. You can claim less than you are entitled to, but no more. You may not arbitrarily pick a number with the goal of avoiding income tax withholding. The law provides for a civil penalty of $500 for filing a false statement on the W-4 form. If at the time the W-4 form is submitted, the employee has made any statement indicating that the W-4 is false in any way, it is invalid. The employer would then be required to treat the submitted form as invalid and withhold as if the employee were single claiming no allowances. Can an employer take out taxes if a W-4 was never filed? Yes. If the employee does not submit a W-4 form, the employer should withhold as if the employee were single claiming no allowances. I would like to overpay my taxes so I get a larger refund. Is there a problem in claiming less exemptions on my W-4 than I am entitled to? You may claim fewer allowances you are entitled to, but you may not claim more than you are entitled to claim. If you only complete the Personal Allowance Worksheet on the front of the W-4, you may not have accurately determined the number of allowances you are entitled to claim. There are more worksheets (the Deductions and Adjustments Worksheet and the Two-Earner/Two Job Worksheet) on the back of the W-4. Complete all applicable worksheets to determine the number of allowances you can claim. Can I claim exemption from withholding of income tax? You can claim exemption from withholding for
the current year only if both the following situations apply: If you claim exemption from withholding, your employer will not withhold federal income tax from your wages. The exemption applies only to income tax, not to social security or Medicare tax. You may have to file a tax return, even if you are exempt from withholding. For more information, consult Publication 505, "Tax Withholding and Estimated Tax." How do I get another Social Security Card (same name and number)? How do I get a corrected Social Security card (name change and same number)? For the application form and instructions follow this link
to the Social Security Administration web site: http://www.ssa.gov/online/ss-5.pdf
(You will be leaving the Concordia College web site.) Is payment received for jury duty subject to income tax? What if jurors are paid for mileage from home to the courthouse? Amounts received for jury duty are includible in gross income. Section 1.61-2(a)(1), Income Tax Regulations. Reimbursement for travel to and from the courthouse is for commuting expenses and is also includible in gross income. There is an exception to this rule: If an employee must surrender the jury duty pay to her employer in order to receive her normal compensation, then the amount of jury duty pay may be claimed as an above-the line deduction in determining adjusted gross income. Code Section 62(a)(13). In this, situation, the deduction for jury duty pay should be included in the total on Line 33 of Form 1040 (tax year 2003). |
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You can only claim the number of
allowances to which you are entitled. Use the worksheet at the top of the W-4
form to see if you can increase your number of allowances.