Tax Form Frequently Asked Questions


Purpose

This document answers frequently asked questions as they relate to tax Form W-2 and other related tax forms.

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Frequently Asked Questions

1. How do I get my Form W-2?

a. Current Employees

               · Log in to Workday using your CNET ID and password

               · Click on the PAY worklet

               · Click on “My Tax Documents”

               · Click on “View/Print”

               · Please note that it can take 1-2 minutes for the document to download

b. Terminated employees have access to view/print W-2 forms directly from Workday until April 30 of the year after termination. If the former employee cannot log into Workday:

               · Individual should try to reset their CNET password here

               · Complete a Tax Form Request ticket at services.uchicago.edu

2. The Name or Social Security Number is wrong on my W-2, what should I do?

a. Your name and SSN must match the information on your Social Security Card. Please upload a copy of your Social Security card to Workday and submit a ticket indicating you have done so. You will receive a corrected W2 (W-2c) within 5-7 business days.

3. My address on the W-2 is incorrect, what should I do?

a. A corrected W-2 is not required for a change in address. If you are a current employee and need to change your address, please update this in Workday.

b. The current address in Workday will be generated on all W-2 forms (even past ones).

4. My wages on my W-2 do not match my final check stub of the year.

a. The W-2 reflects taxable earnings while the check stubs reflect total earnings. To convert from total earnings to taxable earnings, you need to subtract the pretax deductions, including parking deductions, FSA deductions (medical and dental deductions, flexible spending account deductions, and dependent care deductions) and retirement deductions.

b. Contributions toward retirement plans do not reduce your Social Security (OASDI and Medicare) tax withholding.

c. Your Form W-2 is a summary of the taxable earnings received in a calendar year.

5. The check for the last week of 2022 is not included on my W-2. Is this correct?

a. Yes, this is correct. Any compensation paid to you in 2022 is considered 2022 income. The final half of December was paid on January 13, 2023 and is therefore not considered income for 2022. It will be part of your 2023 Form W-2.

6. My W-2 does not reflect my current salary. How come?

a. Your W-2 does not reflect your fiscal year salary; it reflects taxable, calendar year wages. See question #4 for a description of taxable wages.

7. I have questions regarding the information reported in the boxes.

a. Click on W-2 instructions for more information on W-2 Box information.

8. What if I didn’t have any federal or state taxes withheld according to my W-2?

a. You would not have had any federal and state withholding taxes if you claimed an exemption from federal / state withholding on your W4 form for the year (Employee’s Withholding Allowance Certificate). Check your tax withholding elections in Workday. In addition, if your earnings are under a certain threshold, you may not have been subject to any federal and state withholding taxes. You can change your Employee Withholding in Workday to adjust your federal and state withholdings at any time.

9. I am a nonresident alien on a treaty, what tax forms will I receive?

a. Nonresident aliens who both qualified for a treaty exemption and completed the necessary paperwork, may receive a Form 1042-S and/ or a Form W-2 showing their treaty exempt earnings/ other wages and taxes. The Form 1042-S is required before you can complete your income tax return. Forms 1042-S are required to be delivered by March 15th.

10. My state wages listed on my W-2 do not match my federal wages. Why?

a. If you have elected to work from a state where the University is not registered, taxable earnings and tax withholding have not been reported. You are responsible for reporting and remitting necessary information and taxes to that state’s revenue office.

11. I am a student that is only receiving non-wage payments (grants, stipends, or reimbursements) from the university. Will my payments be taxed? Will I receive a tax document?

a. Domestic students, foreign national students with tax treaties, and foreign national students considered “residents for tax purposes” will not have taxes withheld from their non-wage payments.

               · This is reportable income and taxes may need to be remitted directly to the IRS and/or State of Illinois (or state of physical presence).

               · Domestic students will not receive any tax documents for grants, stipends, or reimbursements; this information is self-reported.

               · Foreign national students with tax treaties will receive Form 1042-S.

               · Foreign national students considered “residents for tax purposes” receive a memo from Payroll Services; this is not an official tax document.

b. Foreign national students considered “non-residents for tax purposes” without a tax treaty are subject to a 14% or 30% federal withholding from their non-wage payments.

               · Will receive Form 1042-S.