{"id":20081,"date":"2024-05-17T11:00:51","date_gmt":"2024-05-17T15:00:51","guid":{"rendered":"https:\/\/marymount.edu\/?page_id=20081"},"modified":"2024-05-17T11:00:51","modified_gmt":"2024-05-17T15:00:51","slug":"payroll-taxes","status":"publish","type":"page","link":"https:\/\/marymount.edu\/faculty-and-staff\/financial-services\/payroll-services\/payroll-taxes\/","title":{"rendered":"Payroll Taxes"},"content":{"rendered":"<p><span data-contrast=\"none\">Employers are required by law to withhold employment taxes from their employees.\u00a0 <\/span><b><span data-contrast=\"none\">Consult with a licensed tax professional for any personal tax-related questions, we are NOT allowed to give tax advice.<\/span><\/b><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h2>Mandatory Tax Withholding<\/h2>\n<p><b><span data-contrast=\"none\">Includes:<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"none\">Income tax withholding based on information provided by employees on Form W-4. This tax is paid exclusively by employees.<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"none\">FICA, Social Security and Medicare taxes, is paid equally by employers and employees. The Social Security portion is referred to as Old Age, Survivors, and Disability Insurance, or OASDI, and provides benefits to retirees, spouses, and former spouses, dependent children in some cases, and disabled individuals under retirement age. The Medicare portion allows those age 65 and older (and certain other individuals) to qualify for Part A Medicare coverage with no additional cost, plus coverage through Parts B, C, and D for an additional premium.<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"none\">FUTA, which is a federal unemployment tax, paid exclusively by employers.<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"none\">State unemployment tax paid by employers, although a few states require some employee contributions.<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><b><span data-contrast=\"none\">Exceptions:<\/span><\/b><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The Student FICA exception of IRS Section 3121 (b)(10), exempts services performed for a college or university by a \u201cstudent who is enrolled and regularly attending classes\u201d at the institution.\u00a0 A student employee of Marymount University is eligible for this exemption if the following conditions are met:<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<ol>\n<li data-leveltext=\"%1.\" data-font=\"\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:0,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[65533,0],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;%1.&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"none\">The student employee must be enrolled and attending classes on at a least half time basis, either in an undergraduate or graduate program of Marymount University, during the semester in which the work is being performed.<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li>\n<\/ol>\n<ol>\n<li data-leveltext=\"%1.\" data-font=\"\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:0,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[65533,0],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;%1.&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"none\">The student employee must be classified as a student employee as designated by the Human Resources Department.<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li>\n<\/ol>\n<ol>\n<li data-leveltext=\"%1.\" data-font=\"\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:0,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[65533,0],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;%1.&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"none\">Their primary role at Marymount University is that of a student; i.e. Regular Full and Part Time Staff &amp; Faculty are not eligible for the exemption.<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li>\n<\/ol>\n<h2>W-2s<\/h2>\n<p><span data-contrast=\"none\">Marymount University is required by the Internal Revenue Service (IRS) to provide all employees with a W-2 Form, Wage, and Tax Statements for each calendar year to be used in completing the employees\u2019 annual tax returns.<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559685&quot;:-20,&quot;335559737&quot;:-20,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The W-2 Form details the employee\u2019s compensation <\/span><i><span data-contrast=\"none\">(earnings)<\/span><\/i><span data-contrast=\"none\"> and tax withholding amounts for the year from<\/span> <span data-contrast=\"none\">their paycheck.<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559685&quot;:-20,&quot;335559737&quot;:-20,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">According to the Federal Treasury Regulations 31.6051-1, the W-2 form must be furnished, meaning properly addressed and postmarked, by <\/span><b><span data-contrast=\"none\">January 31st<\/span><\/b><span data-contrast=\"none\"> and the 1042 Form (for Foreign National employees) by <\/span><b><span data-contrast=\"none\">March 15.<\/span><\/b><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559685&quot;:-20,&quot;335559737&quot;:-20,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Access your W-2 in Workday under Benefits &amp; Pay &gt; My Tax Documents.<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559685&quot;:-20,&quot;335559737&quot;:-20,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h2>One Time Payments (OTP) and Bonus Payments<\/h2>\n<p><span data-contrast=\"none\">When an employee receives a large OTP or Bonus payment, the withholding tax may be larger than anticipated thus reducing the net amount received.\u00a0 Employees have the option to revise their Form W-4 in Workday to reduce the tax payment.\u00a0 Revisions must be submitted at least one (1) week before payday.\u00a0 After payday the employee may revise their Form W-4 to the prior election.<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h2>Out of State Employee Tax<\/h2>\n<p><span data-contrast=\"none\">Employees with a primary work location outside Virginia may have their state taxes withheld from their paychecks.\u202f Marymount University (MU) will review, but has no legal obligation to withhold or remit income tax of another state. It is the employee\u2019s responsibility to ensure they follow any out-of-state tax requirements where approval for Remote Work from outside the State of Virginia is authorized.<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The primary work location is the address an employee works at for three (3) or more days each week.\u202f If this address is not on MU Main Campus, Ballston, or 4040 Fairfax Drive, a Request Flexible Work Arrangement form in Workday must be completed every July 1st.\u202f Refer to the <\/span><a href=\"https:\/\/marymount.edu\/faculty-and-staff\/human-resource-services\/human-resources-policies\/remote-work-and-flexible-schedules\/\"><span data-contrast=\"none\">Remote Work and Flexible Schedules Policy<\/span><\/a><span data-contrast=\"none\">.\u202f Once your remote work request form is approved, your alternate work address will be entered in Workday.<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">It\u2019s important Marymount has accurate information regarding where their employees are working.\u202f This affects not only taxes but Workers Compensation, unemployment claims, benefits, leave plans, Internal Revenue Service (IRS), and state and local government restrictions.<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Currently Marymount University is set up to process state tax withholding from the following states.\u202f The employee needs to complete a state tax form and submit it to <\/span><a href=\"mailto:payroll@marymount.edu\"><span data-contrast=\"none\">payroll@marymount.edu<\/span><\/a><span data-contrast=\"none\"> to be exempt from Virginia income tax withholding.<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><a href=\"https:\/\/edd.ca.gov\/siteassets\/files\/pdf_pub_ctr\/de4.pdf\"><span data-contrast=\"none\">California State Withholding<\/span><\/a><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><a href=\"https:\/\/tax.colorado.gov\/withholding-forms\"><span data-contrast=\"none\">Colorado State Withholding<\/span><\/a><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><a href=\"https:\/\/www.justice.gov\/media\/1103996\/dl?inline\"><span data-contrast=\"none\">District of Columbia State Withholding<\/span><\/a><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><a href=\"https:\/\/www.mass.gov\/doc\/form-m-4-massachusetts-employees-withholding-exemption-certificate\/download\"><span data-contrast=\"none\">Massachusetts State Withholding<\/span><\/a><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><a href=\"https:\/\/www.ncdor.gov\/taxes-forms\/withholding-tax\/withholding-tax-forms-and-instructions\/employees-withholding-allowance-certificate-nc-4\"><span data-contrast=\"none\">North Carolina State Withholding<\/span><\/a><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"6\" data-aria-level=\"1\"><a href=\"https:\/\/www.nj.gov\/treasury\/taxation\/pdf\/current\/njw4.pdf\"><span data-contrast=\"none\">New Jersey State Withholding<\/span><\/a><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"7\" data-aria-level=\"1\"><a href=\"https:\/\/www.tax.ny.gov\/pdf\/current_forms\/it\/it2104_fill_in.pdf\"><span data-contrast=\"none\">New York State Withholding<\/span><\/a><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"8\" data-aria-level=\"1\"><a href=\"https:\/\/tax.ohio.gov\/static\/forms\/employer_withholding\/generic\/wth-it4-combined-fi.pdf\"><span data-contrast=\"none\">Ohio State Withholding<\/span><\/a><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"9\" data-aria-level=\"1\"><a href=\"https:\/\/dor.sc.gov\/forms-site\/Forms\/SCW4_2023.pdf\"><span data-contrast=\"none\">South Carolina State Withholding<\/span><\/a><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"10\" data-aria-level=\"1\"><a href=\"https:\/\/www.tax.virginia.gov\/forms\/search\"><span data-contrast=\"none\">Virginia State Withholding<\/span><\/a><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"11\" data-aria-level=\"1\"><a href=\"https:\/\/tax.wv.gov\/Documents\/Withholding\/it104.pdf\"><span data-contrast=\"none\">West Virginia State Withholding<\/span><\/a><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li>\n<\/ul>\n<h2>Tuition Remission Benefit<\/h2>\n<p><b><span data-contrast=\"none\">Undergraduate Courses\u00a0<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The IRS does not require taxation of tuition remission benefits for undergraduate courses.<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">Graduate Courses<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Tuition remission benefits for employees for graduate level courses are only taxed if the amount remitted exceeds $5,250.00 in a calendar year. If the remission does exceed the $5,250 maximum, the employee will be taxed on the amount above the maximum threshold,\u00a0<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The value of the remission benefit for spouses and dependent children enrolled in graduate courses is taxable regardless of the amount.\u202f\u202f<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">Employee\u2019s Paycheck<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The amount to be taxed will be added to the employee\u2019s paycheck over set pay periods and taxes will then be deducted.\u00a0 \u202fIn Fall and Spring semesters, Payroll will apply and split up the taxable amount across seven (7) paychecks to ease the burden on each paycheck. They are also reported on the W-2 form at year-end.\u00a0<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Each semester Payroll receives a report indicating the total dollar amount of tuition remission applied to the employee\u2019s student record for graduate-level education. If the amount received by an employee exceeds the annual excludable amount of $5,250, the excess must be added to the employee\u2019s taxable wages during the semester in which they are taking the class.\u00a0<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The increase in taxable wages also increases the taxes withheld and reduces net pay.\u00a0 All employees are encouraged to track their tuition remission benefit for the year and plan accordingly.\u00a0 To estimate the increase in taxes withheld, review the <\/span><a href=\"https:\/\/www.irs.gov\/pub\/irs-pdf\/p15t.pdf\"><span data-contrast=\"none\">IRS Publication Tax Table 15-T<\/span><\/a><span data-contrast=\"none\">.<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h2>Other Fringe Benefits<\/h2>\n<p><b><span data-contrast=\"none\">Cell Phone and Data Plan<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Employees whose job duties include the frequent need of a cell phone or data device may receive a taxable allowance to cover business-related costs.\u00a0 Paid 24 pay periods per year at $25.00 per paycheck.\u00a0\u00a0<\/span><span data-ccp-props=\"{&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Employers are required by law to withhold employment taxes from their employees.\u00a0 Consult with a licensed tax professional for any personal tax-related questions, we are NOT allowed to give tax advice.\u00a0 Mandatory Tax Withholding Includes:\u00a0 Income tax withholding based on information provided by employees on Form W-4. This tax is paid exclusively by employees.\u00a0 FICA, [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/marymount.edu\/faculty-and-staff\/financial-services\/payroll-services\/payroll-taxes\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":222,"featured_media":0,"parent":20077,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-templates\/left-sidebarpage.php","meta":{"_acf_changed":false,"_lmt_disableupdate":"no","_lmt_disable":"","ngg_post_thumbnail":0,"footnotes":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.3 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Payroll Taxes - Marymount University<\/title>\n<meta name=\"description\" content=\"Employers are required by law to withhold employment taxes from their employees.\u00a0 Consult with a licensed tax professional for any personal tax-related . 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