1042-S Forms for Tax Year 2015
Nonresident employees who earned wages that were exempt from federal withholding taxes due to a 2015 tax treaty will receive a 1042-S form from Payroll Services. Nonresidents may receive both a 1042-S and W-2 form when wages earned are above the tax treaty limit. Additionally, the Office of Accounting provides 1042-S forms, reporting scholarships, fellowships, royalties and cash prizes paid to nonresidents during the tax year. 1042-S forms were mailed Feb. 16 to either the individual's campus or home mailing address. For information about filing nonresident alien tax return forms with the IRS, please see the International Office website.
2015 W-2s Mailed
If you didn’t claim your W-2 online before the Jan. 28 deadline, a printed form was mailed to either your campus mail or home address. Beginning February 8th, you can get a copy of your form online using your UT EID and password (with Toopher authentication). If you’re not able to get your form online, requests for duplicate forms may be sent to firstname.lastname@example.org, or 512-471-5271.
IRS Form 1095-C
Beginning for tax year 2015, the university will provide Form 1095-C to eligible individuals which provides information about the university’s employer health insurance coverage. The forms are not available online and will be mailed to the individual’s home (W-2) address prior to the IRS deadline. At the end of December 2015, the IRS extended the deadline by which the university must provide these forms for tax year 2015 to March 31, 2016; however, the university expects the forms to be mailed by the end of February 2016. The IRS has instructed that for tax year 2015 only, tax payers may rely on other information about offers of health coverage. It is not necessary to wait for the receipt of the 1095-C form in order to file your 2015 tax return. If you have questions about the 1095-C form please visit AskUs, or contact the HRSC Service Center (email@example.com) or 512-471-4772.
2015 W-2 Forms Now Available!
The 2015 W-2 Forms are available online via UT Direct as of Jan. 8, 2016. Log in using your upgraded UT EID and password to claim yours today!
2016 Tax Rates
The IRS has issued new federal tax rates for the 2016 tax year. In addition, the IRS announced that the Social Security wage base limit will remain $118,500 in 2016. For individuals under the wage base limit, total Social Security and Medicare tax is 7.65% (6.2% plus 1.45%). Additional Medicare of 0.9% remains in effect for wages above $200,000.
TRS Reporting Change
Effective with the September 1, 2015 paycheck, the timing of reporting to TRS has changed. Per revised TRS Rule 25.28, salaries and deposits are now reported to TRS based on check date, rather than pay period as was the case previously. As a result of this change, only 11 months of salaries are included in the 2014-2015 totals. Employees will notice this change on the TRS Statement that was recently mailed to them. For employees that are approaching retirement, TRS may be willing to work with employees to adjust their salaries to reflect a full 12 months. Please contact TRS directly at 512-542-6400 to begin this process or if you have any questions. You may also find additional information in the “Guide to Reading Your 2015 TRS Annual Statement” on the TRS website.
Toopher Security Enhancements
The University of Texas at Austin has implemented Toopher, a two-factor authentication tool as a way to provide added security for certain UT Direct online services. My W-2 and My Paycheck Distribution/Bank Info-Payroll now require the use of Toopher in order to protect employees’ sensitive payroll data. To log in to these pages, users must enter their UT EID and password, and then authenticate using Toopher. Users must have access to a mobile phone to use Toopher’s text messaging / SMS option, or a smartphone or tablet to use the Toopher App. Users may also use the Printed One-Time Passcodes option, which does not require a mobile phone or smartphone.
Information about setting up two-factor authentication is available on the ITS website and the ITS Help Desk can be contacted with questions related to this. Basic instructions for accessing the payroll webpages using Toopher are also available online.
For employees who cannot use Toopher, alternate processes will continue to be available:
Campus-wide notification regarding two-factor authentication from the Chief Information Security Officer can be found here.
Archived News and Spotlights