Employee Matters

This column is prepared by staff from the Office of Human Resources. E-mail questions to benefits@ohr.wisc.edu or call 262-5650. For more information, visit Payroll and Benefits Services.

Year-end statements

The Office of Human Resources (OHR) will produce three 2007 year-end tax statements: W-2, 1042-S and the Fellowship/Scholarship Information letter. These documents contain information you may have to report on your annual tax forms. Statement explanations are available at Payroll Services Domestic Tax Information.

Who will receive a W-2?

All UW System employees with earned income in 2007 will receive a W-2, including rehired annuitants and some international visitors (see “Who will receive a 1042-S” below).

What information is included on a W-2?

Social Security number; income subject to and the amount deducted for federal, Social Security/Medicare and state taxes; advanced earned income credit; dependent dare and medical expense reimbursement (ERA) contributions; state group life taxable premiums on coverage in excess of $50,000; tax-sheltered annuities and Deferred Compensation contributions; taxable educational assistance; taxable and nontaxable reimbursement for moving expenses; and pre-tax premiums for dental and excess medical (EPIC), state group health, state group life, vision and dental insurance, as well as pre-tax transportation expenses.

Who will receive a 1042-S?

Foreign nationals with treaty benefits in 2007 will receive a 1042-S. You may also receive a W-2 for wages beyond what is allowed under your treaty benefits. Fellowship stipends paid to nonresident aliens will also be reported on a 1042-S.

What information is included on a 1042-S?

Social Security number or Individual Taxpayer Identification Number (ITIN); income code; gross income paid; withholding allowances; net income; tax rate; exemption code; federal tax withheld; and country code (country of permanent residence).

What is a Fellowship/Scholarship Information letter?

This letter contains the amount of payment you received as an advanced opportunity fellow, fellow, graduate intern or trainee, scholar, trainee or postdoctoral fellow. IRS Publications 505 and 970 can help you determine if you must report these payments on your federal tax return.

When should I expect to receive my year-end tax statements?

The documents should begin arriving at your home address after Monday, Jan. 21. You can also find your year-end tax statement(s) in the “My UW” Madison portal after Jan. 28 on the Work Record tab.

Requests for duplicate 2007 statements will not be accepted until Friday, Feb. 15. If needed, a duplicate statement can be ordered by calling 262-5931 or you can request one using the Duplicate Tax Statement Request form.

Could I receive other non-Office of Human Resources year-end tax forms?

You may receive other year-end tax forms produced by other sections of the University: 1098-T (tuition), 1098-E (interest on student loans), 1042-S and 1099-MISC (the latter both relating to accounts payable payments). You must contact those departments with questions about these forms.