CU helps you ditch the paper for (at least part of the) tax season

Here’s the great thing about all the year-end, tax-related tasks CU requires you to complete: You can accomplish most (if not all) of them online without wasting a shred of paper.

The university is asking employees to verify their mailing addresses and names so staff can quickly and easily mail W-2 tax forms. CU also wants you to take a look at your W-4 Form (the one you filled out to choose the amount of taxes withheld from each paycheck) so surprises don’t strike when you do receive your W-2 in January. Fortunately, you can complete both these tasks just by logging in to the employee portal.

Get your W-2 in January…or wait longer to get it in the portal.

By Jan. 31, CU’s Employee Services team will mail your W-2 Form to the mailing address—or, in lieu of that, the home address—you have on file within the portal as of Jan. 5. Avoid mail errors and delays due to outdated addresses by checking your mailing address by Jan. 5. Just log in to my.cu.edu and select the CU Resources tab, followed by the “Personal Information Profile” button to review and/or update your information.

Please note: Postal services will not forward W-2 forms, even if you have filled out a forwarding address card.  

Digital copies of W-2 forms will be available within the portal by Jan. 31, 2015.

While you’re logged in, double check the spelling of your name—especially if you changed it in 2014. The name that appears on your Social Security card must also appear on your electronic pay stubs (viewable via the “Pay Advice” link within the “Payroll and Compensation” menu within the CU Resources tab). Please contact your department directly if you need to correct your name.

Check your W-4 to see if you’re withholding the right amount of taxes.

While you can edit your W-4 elections throughout the year, it’s a good idea to review your current choices before you enter a new tax year. Some helpful resources:

• View 2015 tax rates
• Use the IRS Withholding Calculator

Log in to the employee portal any time to see your current choices (Click “Payroll and Compensation,” then “W-4.”). You can enter changes to your W-4 Form here, too.

Two important notes:

1. International employees CANNOT make changes to their W-4 forms without first speaking to an international tax specialist.
2. If you filed as tax exempt in 2014, you must complete a 2015 W-4 Form—whether to reclaim tax-exempt status or withhold taxes. If you don’t complete a 2015 W-4 Form by Feb. 17, 2015, when your 2014 tax-exempt status expires, your tax withholding will be set to the default tax rate for single and zero exemptions.