Tax Compliance Guidelines
Payroll Taxes - BC*
||Payroll Taxes - BC
||FIN-PAY-IV-90, Payroll Tax Withholding
||FIN-PAY-IV-230, Student Social Security Tax Withholding Exemption
FIN-ACC-I-590, Gifts to Employees or Non-Employees
FIN-ACC-I-310, Moving Expenses
FIN-ACC-I-340, University Automobiles and Automobile Allowances
||Federal Form W-4
IN State Form WH-4
Reciprocal State Form WH-47
Request for Duplicate Tax Form (Paper form)
Request for Corrected Tax Form
Request for Prior Year FICA Refund
|Things to Know:
Please contact FMS Tax Department, firstname.lastname@example.org for more information.
- Payroll tax is the largest tax expense of the University. Income taxes and the employees’ share of FICA (Social Security and Medicare) are withheld from income; the employer’s share of FICA will have been accounted for when budgeting for salaries.
- However, the provision on non-cash fringes (i.e. discounts, personal use of University vehicles, employees’ gifts, and taxable tuition benefit) not otherwise budgeted will also result in additional FICA expense.
- Non-cash fringe benefits will be added to employees earnings and will be subject to tax withholding
- Social Security and Medicare tax exemptions:
- Students are exempt if they meet the test set out in policy IV-95 listed above.
- Nonresident aliens on an F-1, J-1, M-1 or Q-1 are exempt if performing services consistent with their visa status.
- Federal Tax Withholding Calculation: http://www.fms.indiana.edu/tax/withhold.pdf
- Indiana Local (County) Withholding Rates: http://www.in.gov/dor/files/dn01.pdf
- Form W-2 Useful Information: http://www.fms.indiana.edu/tax/w2/w2home.asp
*BC - Budget Construction