Encourage employees to check their 2014 tax-filing status before the New Year
Help employees who filed as tax exempt in 2014 avoid heavy income tax deductions next year by asking them to complete a new W-4 in the employee portal this winter.
These employees are legally required to update their tax-filing status (whether to reclaim tax-exempt status or file to withdraw taxes) by Feb. 9, 2015. Otherwise, they will be placed in the default filing status (single, filed as 0), which withholds the highest amount of taxes from their income.
Employees can access the online W-4 Form by logging in to my.cu.edu and selecting the “W-4” link within the “Payroll and Compensation” menu on the left.
Visit the Employee Services website for 2015 tax rates and other important tax-related information.