Payroll Services

The 2011 W-2 forms are available online. Log in using your upgraded UT EID and password to claim yours today.

On Dec. 23, Congress passed the Temporary Payroll Tax Cut Continuation Act of 2011, which extended the two percentage point Social Security tax cut for employees, continuing the reduction from 6.2% to 4.2% through Feb. 29, 2012. As a result, the combined Social Security (4.2%) and Medicare (1.45%) rate is 5.65% for wages up to the Social Security wage limit of $110,100. Since the university’s Jan. 3 paychecks were processed prior to passage of the act, the rate in effect on that payroll was a combined rate of 7.65%. Employees who were over-withheld Social Security on the Jan. 3 paycheck will be refunded when their next payroll payment is processed. For most employees, this will occur on the Feb. 1 monthly payday. For employees who do not receive another payroll payment by Feb. 1, their difference will be refunded separately.

Effective Jan 1, 2012, the Social Security wage limit increases from $106,800 to $110,100.

The IRS has issued new federal withholding tax rates for the 2012 tax year. For details about the tax calculation, please see the 2012 Tax Rates on our website.

Due to the bank holiday on Monday, Jan. 2, 2012, the regular monthly payday for the December pay period is Tuesday, Jan. 3, 2012.

Payroll Services will be closed Friday, Dec. 23 through Monday, Jan. 2 in accordance with the university’s winter break holiday schedule.

As of the university’s monthly payroll processing date, Dec. 21, the US Congress failed to extend the 2% payroll tax cut to 2012. As a result, the rate will increase from 4.2% to 6.2% effective Jan. 1. Employees who are subject to this tax will have their Jan. 3 paycheck taxed at the higher rate. If Congress extends the 2% tax cut at a later date, our office will process appropriate adjustments for any impacted paychecks. Additional information will be posted in January.

The Employee/Independent Contractor Classification Checklist (EICCC) has been updated. The new EICCC has some minor changes that help clarify the classification process. Check out the new version.

• Thursday, Aug. 18
  All monthly assignments for the 2010-11 fiscal year must be routed to HRS no later than Thursday, Aug. 18 for the Sept. 1 payday.

• Tuesday, Aug. 23
  Preferred deadline for monthly assignment documents and all retroactive assignment changes, including account changes and salary transfers, to be final approved is 5 p.m. Tuesday, Aug 23. Unfunded monthly assignments (on Default Accounts) must have appropriate funding identified for charges to be included in the 2010-11 fiscal year accounting records.

• Monday, Aug. 29
  Monthly assignment documents and all retroactive assignment changes, including account changes and salary transfers, must be routed to HRS no later than 5 p.m. on Monday, Aug. 29. Unfunded monthly assignments (on Default Accounts) must have appropriate funding identified and routed to HRS by 5 p.m. for charges to be included in the 2010-11 fiscal year accounting records.

• Thursday, Sept. 1
  All electronic payroll documents (OV1, OV2, OV5, OV6, and OV7) for 2010-11 must be final approved by 3 p.m. Paper documentation for OV7 documents must be received in Payroll Services by 12 p.m. Documents approved after Sept. 1 will not be included in the 2010-11 accounting records; no late documents can be accepted.

Faculty interested in participating in the Salary Spread program or interested in canceling participation beginning with the 2011-12 academic year must submit a Salary Spread Request Form to Payroll Services indicating their preference. Request forms must be received in Payroll Services, MAI 134, no later than Wednesday, Aug 31. Please see our Web site for more information. Salary Spread inquiries and cancelation requests can also be made via email to Jackie McKay, jmckay@austin.utexas.edu.

Data from *DEFINE commands OCA and OCF is now available online to assist with account management. The Salary By Account and Fringe Benefits By Account tools provide expenditure data in either an online display or spreadsheet download.

The 2010 W-2 forms are available online. Log in using your upgraded UT EID and password to claim yours today.

The IRS has issued new federal withholding tax rates for the 2011 tax year. In addition to the withholding tax changes, the Social Security tax rate for employees decreased 2%. For someone under the wage limit of $106,800, total Social Security and Medicare tax is 5.65% (4.2% plus 1.45%). For details about the tax calculation, please see the 2011 Tax Rates on our website.

• Wednesday, August 18
  All monthly assignments for the 2009-2010 fiscal year must be routed to Human Resource Services (HRS) no later than Wednesday, August 18 for the September 1 payday.

• Friday, August 20
  Preferred deadline for monthly assignment documents and all retroactive assignment changes, including account changes and salary transfers, to be final approved is 5 p.m. Friday, August 20. Unfunded monthly assignments (on Default Accounts) must have appropriate funding identified for charges to be included in the 2009-2010 fiscal year accounting records.

• Friday, August 27
  Monthly assignment documents and all retroactive assignment changes, including account changes and salary transfers, must be routed to Human Resource Services (HRS) no later than 5 p.m. on Friday, August 27. Unfunded monthly assignments (on Default Accounts) must have appropriate funding identified and routed to HRS by 5 p.m. for charges to be included in the 2009-2010 fiscal year accounting records.

• Wednesday, September 1
  All electronic payroll documents (OV1, OV2, OV5, OV6, and OV7) for the 2009-2010 year must be final approved by 3 p.m. Paper documentation for OV7 documents must be received in Payroll Services by 12 p.m. Documents approved after September 1 will not be included in the 2009-2010 accounting records.

Faculty interested in participating in the Salary Spread program or interested in canceling participation beginning with the 2010-2011 academic year must submit a Salary Spread Request Form to Payroll Services indicating their preference. Request forms must be received in Payroll Services, MAI 134, no later than Tuesday, August 31. Please see our Web site for more information regarding the program. Salary Spread inquiries and cancellation requests can also be made via email to Jackie McKay, jmckay@austin.utexas.edu.

The Earned Income Tax Credit (EITC) is a credit available for certain workers based on the amount of income earned. To find out more information about the eligibility requirements for the EITC, visit the Texas Comptroller of Public Accounts. If you are eligible and would like to receive part of the earned income tax credit in advance with your pay, you may complete a Form W-5 and submit it to Payroll Services.

The IRS has issued new tax rates for the 2010 tax year. The guidance also includes a new tax calculation for nonresident aliens. Please refer to the appropriate tax table (U.S. Citizens and Residents or Nonresidents) for wages paid in the new tax year.

If your withholding allowances have changed, please remember to file an updated W-4 in order to ensure that the appropriate amount of withholding taxes are deducted from your paycheck. You may update your W-4 on My Withholding, or by submitting a new Form W-4 to Payroll Services. In addition, due to the Making Work Pay credit effective April 1, 2009, individuals and couples with multiple jobs may want to consult the IRS withholding calculator to ensure enough withholding is held to cover the tax for the combined income. IRS Publication 919 provides additional guidance for tax withholding.