Withholdings

Taxes are withheld from paychecks according to the information supplied by Faculty, Staff, and Student Employee on their W-4.  Withholdings are defined by your:

• Filing status of Single, Married, or Married but withhold at a higher Single rate
• Number of allowances
• Any additional amount you would like to be withheld for taxes.

Exempt

Students can only claim Exempt if they cannot still be claimed as a dependant, and if the student employee will make more than $850.  If you claim Exempt, you are required to complete a new W4 form every year to keep the exemption.  If a new W4 is not filled out by February 16 each year, your withhoilding specifications will default to Single with 0 (zero) allowances.  If you have any questions, please call HR Frontline at X2359. 

FICA

Students are exempt from FICA payroll taxes when they are registered in classes.  These taxes will be changed to active during the summer term when a student is not registered for summer courses.

FICA taxes include:

• FICA OASDI (Social Security) is 6.2% of your taxable gross income.
• FICA Medicare is 1.45% of your taxable gross income.
• Together they total 7.65% of your taxable gross income.

Remember this tax will appear when you are not currently taking classes.  This will be seen on your paycheck according to the pay period dates that you were not in class.  For examples, persons not registered in Summer I which covers the pay dates of 6/9 through 6/22 will see FICA taxes on their 7/8 paycheck. 

Changing your W-4

Faculty, Staff, and Student Employees may make changes to their W-4 withholdings by logging into Banner Web (click on Employee, Tax Forms, W4 and then Update at the bottom of the page) or by completing a new W-4 in the Human Resources Office.

Tax Questions

Visit the IRS web site for Publication 15, Circular E which has detailed information regarding tax information.