Payroll

What is the social security wage base for 2008?
The Social Security Administration has announced that the 2008 social security wage base will be $102,000. As in prior years, there is no limit on wages subject to Medicare tax (1.45%).

Why are my earnings and benefits for 1997 not complete on Web for Employees?
In July 1997, the University converted all our Payroll data from our then payroll service provider ADP to an in-house system. The data from ADP for calendar year 1997 was posted as one total. Therefore, only one amount will be shown for January to June of 1997.

How are my federal taxes calculated?
Federal taxes for most wages are determined by marital status and number of dependents. Payroll uses a tax table provided by the Internal Revenue Service to calculate wages. Employees can increase or reduce their federal tax by completing a W4 form. This form is available for download or in the Payroll Office. Severance and bonus wages are calculated based on a flat rate. The current flat rate for calendar year 2007 is 25%.

How can I get Direct Deposit of my paycheck?
Direct deposit is available to all employees. With direct deposit your paycheck is deposited into your bank account. This is the safest and fastest way to receive your payment. There is no cost and you can choose any bank. For more information on this free benefit, contact the Payroll office or download a Direct Deposit form.

Who is responsible for maintaining my sick and vacation time balances?
Sick and vacation time is accrued differently, depending on your classification and length of service. (Refer to Policy Manual for specific accrual methods). It is the responsibility of both the employee and the department to maintain records of vacation and sick time balances for all eligible employees. The Payroll Office can verify time used and accrued time when the employee leaves the University.

When I terminate my employment, will I receive any sick and vacation time I have accrued?
You will be paid only for unused accrued vacation time.

W-2 Frequently Asked Questions

What is the W2?
Form W2 is the Wage and Tax Statement issued by St. John’s University (employer) to all employees. The form reports all income and tax withheld for the calendar year (January 1 to December 31).

What other tax forms will I receive from St. John’s?
You may also receive from the Payroll Office a 1042-S tax form. This form is issued to foreign persons with income subject to withholding.

In addition, the Business Affairs Office distributes 1099-MISC for miscellaneous income and 1098-T form for tuition payments. For more information on these forms, please contact the Business Affairs Office at (718) 990-2406.

How is the information on the W2 used?
STJ is required to submit W2 information to the Social Security Administration and all taxes withheld to the IRS. The employee is responsible for filing with the IRS and State taxing authority his/her income tax. Four copies of the W2 are issued to each employee.

Why do the year-to-date gross wages on my paycheck not match the Box 1 wages on my W2?
The wages reported in box 1 include only taxable gross wages. You must add all pre-tax deduction such as medical, dental, flex plan, and 403(b) contributions. In addition, if you had any taxable life or tuition remission you must subtract these amounts to calculate your actual gross wages.

You are only responsible for reporting the amount in box 1 when filing your personal federal income tax.

How much tax did I actually pay?
The amount of federal income tax withheld from your calendar earnings is reported in box 2. Your state income tax withheld is reported in box 17. If you were a New York City resident for any part of the calendar year, your local income tax withheld is reported in box 19.

How is my tax calculated?
The amount of federal income tax withheld from every payroll check is based on what you elected as your filing status and the number of withholding exemptions you claim.  This information is taken from the completed W4 form typically submitted at the time of hire. The form can be updated at any time by completing a new W4. The new W4 form replaces a previous completed form and will remain in effect until another form is completed and submitted to the Payroll Department. Postdated forms are not accepted.
 
If your W2 form does not include an amount in box 2, you may review your filing status and the number of withholding allowances you are claiming and determine if changes are necessary.

The W4 form can be found in the Human Resources Office (CCK building) or HR forms website: http://intranet.stjohns.edu/resources/hr/forms.stj

When will I receive my W2 form?
W2 statements must be issued or mailed to employees on or before the 31st of January. Due to the large number of W2 produced, we typically mail the forms over a 3 day period based on last name.

What is Advance EIC payment (box 9)?
Advance earned income credit allows eligible employees with a qualified dependent (child or children) with income under the maximum limit established by the Internal Revenue Service to receive a monetary amount with every scheduled payroll check versus applying for a tax credit once a year when filing his/her federal income tax return.

Eligible employees must complete a W5 - Earned Income Credit Form and submit it to Payroll Department. The W5 will remain valid throughout the calendar year that it is completed and must be renewed every year to continue participation.

The W5 form can be found in the Human Resources Office (CCK building) or the IRS website www.irs.gov

What is code E in box 12?
Code E is the elective deferrals for your 403(b) salary reduction agreement.
Under IRS section 403(b), the IRS allows for certain employee paid deductions for the purpose of retirement to be excluded from federal taxable wages.

What is code C in box 12?
Code C is the taxable cost of group-term life insurance.  This cost is considered imputed income. If your employer paid life insurance is over the $50,000 limit, the amount over the limit is taxable and reported in boxes 1, 3 and 5.

What is imputed income?
IRS requires that certain items, provided by the employer, be reported as taxable compensation. Examples are taxable tuition benefits, certain types of moving expenses, and a portion of employer-paid group term life insurance.

Why does the amount in Box 1 (federal taxable wages) not match Box 3 (social security taxable wages) and/or Box 5 (Medicare taxable wages)? Why does Box 3 not match Box 5?
Each tax has a different calculation for taxable wages:

• Box 1 = Total Compensation minus pre-tax deductions, 403(b) deductions and imputed income. (No maximum)
• Box 3 = Total Compensation minus pre-tax deductions and imputed income. (2006 maximum is $94,200)
• Box 5 = Total Compensation minus pre-tax deductions and imputed income. (No maximum)

How do I report my dependent care (box 10) from my W2?
Refer to IRS Form 2441, Child and Dependent Care Expenses, for instructions on how to report this information on your tax return. For additional information, contact your tax preparer or the IRS.

Can I view my W2 online?
After January 31 you can view your W2 on-line using the Employee-self serve (see next question).

What do I do if my address is wrong on my W2?
An incorrect address does not invalidate your W2 and does not require a corrected W2.
 
However, you should notify the Payroll Office or update this information via our Employee Self-Service on the University Information System.
 
All employees can update and view personal and pay information including current and past W2s on-line using the Employee Self-Service on the University Information System (UIS).

Login to Employee Self-Service at:
http://www.stjohns.edu/uis

When the Log-on page displays,

1. Type your User ID (SS# or X#) and Password, then click Log-In button.
2. Under Personal Information Menu click View/Update Permanent Address.
3. Click on Employee to view pay and W2 information.

How do I request a reprint of my W2 because I did not receive it in the mail, lost it, or accidentally destroyed it?
Submit an e-mail request with your name X-number and phone number to Richard Geraci, Payroll / HRIS Manager, geracir@stjohns.edu.  The form will be reprinted and mailed to you or you may pick-up the form in the Payroll Office. W2s will be reprinted on the 15th and 31st of each month. A payroll representative will contact you.  Due to the sensitive nature of information found on the W2 no form can be faxed or sent to a third party.

When can I ask for a reprint of my W2?
Your request may be submitted at any time after February 15. We will begin processing reprint requests the third week of February.  Please note, W2s can also be viewed and reprinted on-line via Employee Self-Service on the University Information System (UIS).

Who do I contact if I think my W2 is wrong?
You may send an e-mail request with your name to David Martinez, Director of Payroll, martined@stjohns.edu. After your information has been reviewed, a payroll representative will contact you.