The Internal Revenue Service announced that it has extended the 2018 due date for certain entities to provide 2017 health coverage information forms to individuals.
IRS extends due date for employers to issue health coverage forms in 2018
Unit: Payroll
2018 income tax withholding tables implementation
Effective for payment dates January 16, 2018, and later, Illinois State University has implemented the new 2018 income tax withholding tables, released on January 11, 2018, reflecting changes made by the tax reform legislation enacted last month.
2018 tax filing season begins
The Internal Revenue Service has announced plans to begin accepting individual tax returns electronically on January 29, 2018.
End-of-year tax reminders
Here are some end-of-the-year tax reminders.
State of Illinois income tax rate increased to 4.95 percent
The Illinois Income Tax rate for individuals has increased from 3.75 percent (.0375) to 4.95 percent (.0495), effective July 1, 2017.
Tips for protecting yourself against financial fraud
According to the IRS, fraud costs victims $190 billion annually in the U.S. alone. Keep reading for more information on each of these types of financial fraud and what you can do to avoid them.
Paycheck distribution change
Effective March 31, 2017, employees who have not enrolled in direct deposit will be required to pick up their paycheck at the University Payroll Office.
ACA Tax Forms Mailed
The 2016 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage Insurance, were mailed on February 28, 2017, via the United State Postal Service (USPS).
W-2/Pay Advice Reconciliation Template
Employees often ask what amounts are reported on a Form W-2 and why the amounts on their pay advices are different from amounts on their Form W-2. Many of these questions focus on understanding the amounts in the numbered boxes on the Form W-2.
2017 fringe benefit limits announced
The IRS announced the 2017 inflation-adjusted limits that apply to certain employee fringe benefits, with at least one surprise to note.
