Employee Services is announcing that all 2020 W-2s will be mailed by Jan. 31, and 1095-Cs will be mailed on March 2 to mailing addresses employees have on file in their employee portals. Both forms will be available in the portal shortly after release.
All 1042-S forms, for nonresident and resident alien taxpayers, will be mailed no later than the third week of February.
The W-2 reports an employee’s wage and salary information as well as the amount of federal, state and other taxes withheld from their paychecks.
Forms will be available in the employee portal on Jan. 31. To access Form W-2 in the portal:
- Log into the employee portal.
- Select the CU Resources tab. (CU System employees can skip this step.)
- Open the CU Resources Home dropdown menu at the top of the page and select My Info and Pay.
- Choose the W-2 tile. You will be prompted to verify your identity before you can access this information.
Note for employees who access their W-2 through the ADP portal: Follow these instructions to register for an ADP account.
What if employees see two different W-2s in their portals?
If employees see two W-2s (CU and CUR), both W-2s must be submitted for their tax filing.
What if employees did not receive their W-2 in the mail?
Employees who do not receive their W-2 in the mail should reference the Employee Services website for next steps.
Nonresident and resident alien taxpayers whose wages are eligible for a tax treaty exemption, and nonresidents who received taxable or tax treaty exempt non-qualified scholarship payments, will be issued Form 1042-S. Employees and students with more than one type of 1042-S reportable income should expect to receive more than one 1042-S.
Individuals with 1042-S reportable income should wait to receive their 1042-S form(s) before filing personal income tax returns. In some cases, nonresident employees will also receive Form W-2 if receiving taxable wages.
While the deadline for issuing Form 1042-S is March 15, Employee Services expects to mail the forms no later than the third week of February to allow taxpayers more time to file.
Form 1095-C is sent annually, providing employees with information regarding employer-provided health insurance coverage. It specifies the months of health care coverage for the employee and their eligible dependents. When completing their federal tax return, employees must indicate whether they had qualifying health coverage for all of 2020 or whether they qualified for a health coverage exemption.
Per the IRS, employees are not required to submit this form with their 2020 tax filing. However, they should keep this form with tax records. If questions arise, employees should consult a qualified tax adviser.
Forms will be released to employees March 2. Access Form 1095-C in the portal:
- Log into the employee portal.
- Open the CU Resources Home dropdown menu at the top of the page.
- Click the Benefits and Wellness tile.
- Choose the Benefits Tools tile and click the View Form 1095-C tile.
You’ll be prompted to verify your identity before you can access your forms. Once authorized, click on the tax form you’d like to view and download your form. If a form has not been issued to you, a message will populate stating that no form is available.
W-4 exemptions expire Feb. 15
W-4 tax exempt status for 2020 will expire on Feb. 15. Employees will need to enter a new W-4 to continue their exemption. Otherwise, the tax status will revert to “single,” the highest withholding status.
Follow these steps to update Form W-4:
- Log into the portal.
- From the top center CU Resources Home dropdown menu, select My Info and Pay.
- Click the W-4 tile. You'll be asked to verify your identity.
- To claim the exemption for 2021, follow the instructions under Claim Exemption from Withholding near the bottom of the page. Make sure the year field in this section is set to “2021.”
Unemployment fraud scheme
The Colorado Department of Labor and Employment (CDLE) has seen a rise in fraudulent unemployment claims to exploit the overall increase in unemployment insurance claims associated with COVID-19. In a Jan. 14 update, the CDLE reported that fraud victims are receiving IRS 1099-G Forms for unemployment benefits they did not receive. Learn more about this scheme and find out what to do if you are sent a 1099-G.
General information about Form W-2 can be found here.
For additional assistance, please contact an Employee Services payroll professional at 303-860-4200, option 2.
For questions about Form 1095-C, a qualified tax adviser should be consulted. For general information, call a Benefits Professional at 303-860-4200, option 3, or email firstname.lastname@example.org.
General information about Form 1042-S can be found here.
Tax resources for nonresident filers, including access to Glacier Tax Prep software, can be found here.
For additional assistance, please email IntlTax@cu.edu.