STORY

Don’t let the ball drop in 2019: To-do list available for employees

Prepare for upcoming tax season before end of year
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Don’t let the ball drop in 2019: To-do list available for employees

The New Year is almost here, bringing with it key tasks and deadlines for all CU employees. To ensure they receive important documents such as the W-2 and 1095-C error-free and on time, employees should complete these tasks in the employee portal:

  1. Review and update their addresses. Employees should have a mailing and home address on file. Important tax documents are sent to the mailing address listed in the portal. To prevent delay in receiving forms, it is vital that they verify or correct their addresses in the employee portal by Jan. 4.
  2. Verify their Social Security number. Confirm the Social Security number on file is correct. Incorrect numbers will affect W-2s, potentially causing issues with the IRS.
  3. Review their paycheck every payday. To help prevent delays when filing taxes and lessen the chance of correcting their W-2, employees can make sure earnings are correct by reviewing their paychecks each payday.
  4. Validate their tax withholdings with the IRS Withholding Calculator. Using the calculator helps employees identify and ensure the right amount is withheld from their paycheck.
  5. Sign up for digital delivery. By enrolling, employees can have their Form 1095-C and benefits notices sent via email and stored in their campus portal, rather than being mailed.  
  6. Set a reminder for these dates:
  • The IRS is expected to release a revised W-4 in mid-December.
  • If an employee met the Social Security wage base in 2018, deductions will resume on Jan. 1.
  • The deadline to update a mailing and home address in the employee portal is Jan. 4.
  • W-2 forms will be mailed by Jan. 31 and available in the portal shortly thereafter.
  • If a person filed as tax exempt in 2018, they must update their W-4 tax information in the employee portal by Feb. 6. If you are unable to do so, please submit a 2018 W-4 to Employee Services.

Click here to view full instructions on completing these steps.

To learn more about important dates and review 2019 tax rates and contribution limits, visit the Employee Services website.

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