Watch for crucial tax forms arriving in the mail, 2023 tax exemptions expire in February
By Jan. 31, all 2023 W-2s will be sent to the mailing address employees had on file in the employee portal as of Dec. 15, and the 1095-C will be mailed by March 2 to employees eligible for 2023 health benefits. Both forms will be available in the portal shortly after they are released.
Anyone who does not receive their W-2 in the mail should visit the Tax Forms webpage for additional guidance.
How to access your electronic W-2
- Log into the employee portal.
- Select the CU Resources tab (CU System employees can skip this step).
- Open the CU Resources Home dropdown menu at the top left of the page and select My Info and Pay.
- Choose the W-2 tile. Employees will be prompted to verify their identity before they can access this information.
What if I see two W-2s in my portal?
Employees with two W-2s may have earnings as a CU and CUR employee or may have worked from two different states or localities during the year. Both W-2s must be submitted when filing your 2023 tax return.
About Form 1095-C
Form 1095-C is sent annually, providing employees with information regarding employer-provided insurance coverage. The form indicates which months during the year the employee/dependents were eligible for health care coverage and the employee required contribution for the elected coverage.
When completing your federal tax return, you will need to indicate whether you had qualifying health coverage for all of 2023 or whether you qualified for a health coverage exemption. Per the IRS, employees are not required to submit this form with their 2023 tax filing. However, you should keep this form with tax records.
If questions arise, please consult a qualified tax advisor.
How to access Form 1095-C electronically
- Log into the employee portal.
- Open the CU Resources Home dropdown menu at the top, left of the page.
- Click the Benefits and Wellness tile.
- Choose the Benefits Notices tile and click the View Form 1095-C tile.
2023 tax exempt status will expire
For employees who filed a 2023 W-4 to claim tax exempt, their status will expire on Feb. 15. Employees will need to submit a new W-4 to continue their exemption. Otherwise, their tax status will revert to “single,” the highest withholding status, for 2024.
Follow these steps to update Form W-4:
- Log in to the employee portal.
- Click the CU Resources tab. (CU System employees can skip this step.)
- From the top left dropdown menu, select My Info and Pay.
- Click the W-4 tile. You’ll be asked to verify your identity.
- To claim the exemption for 2024, follow the instructions under Claim Exemption from Withholding near the bottom of the page. Make sure the year field in this section is set to “2024.”
Nonresident alien taxpayers whose wages are eligible for a tax treaty exemption, or who are recipients of non-qualified scholarship, will be issued a 1042-S form. The IRS requires 1042-S forms to be mailed no later than March 15 annually, but Employee Services strives to mail forms well in advance of that deadline allowing taxpayers more time to complete their personal tax returns.
Individuals with tax treaty exempt income or with taxable scholarship should wait to receive Form 1042-S before filing personal income tax returns to avoid the need to amend incomplete returns. In some cases, non-resident employees may receive Form W-2 as well, if receiving taxable wages. Employees and scholarship recipients who expect but have not received their form by the third week of February should request a reissued 1042-S Form from Employee Services.