Payroll Calendar Year-End Processing for 2000

John P. Kruczek, University Controller

The Bureau of State Payrolls (BOSP) has advised agencies of key dates for the 2000 calendar year-end. Due to holiday processing deadlines and calendar year-end, an early review of your Pay Lists on December 22, 2000 for the December 29, 2000 pay date is critical. The following is additional information your payroll staff should be aware of:

Employee Earnings Adjustments
All adjustments made to 2000 earnings or taxes between December 28, 2000 and January 9, 2001, will have the message “Employee: Please Hold for W-2C” printed on the W-2. This message means the employee is to be given the original W-2 form, but should refrain from filing a tax return until the Form W-2c is received. Both the W-2 and W-2c are filed with the tax return.

Adjustments submitted after January 9, 2000 will generate a W-2c, Corrected Wage and Tax Statement. However, the original 2000 Form W-2 will not display the message indicating that a corrected W-2 (W-2c) is in process and warning the employee to delay filing their personal tax return. Please advise your employees if an adjustment is requested after this date.

Employee Refunds Resulting From Wage Overpayments
Employee refunds for any overpayments received during calendar year 2000 must be received in the Payroll Services Office by December 26, 2000 to be processed as a 2000 transaction. This is required since the Internal Revenue Service will not refund federal income taxes withheld from a prior year. Refund payments collected after that date require the employee to reimburse the net wage amount plus Federal Income taxes withheld.

EFT and Warrant Cancellations
All requests for EFT and Warrant Cancellations for the December 29, 2000 pay date must be received in Payroll Services Office by December 26, 2000. Requests received after this date will generate a W-2c.

Forms W-2 and 1042s Distribution
Original Forms W-2 will be distributed to the University of Florida by the Bureau of State Payrolls by January 19, 2000. As soon as the W-2’s are sorted, Dean’s Offices and departments will be called to pick-up the forms for their employees and distribute them to current and terminated employees. The Payroll Services Office will provide mailing envelopes. Return mail should be sent to the Payroll Services Office for redistribution should the employee make an inquiry. Original Forms 1042s for nonresident aliens will be distributed by March 8, 2001.

Should you have any questions, please email your inquiries or requests to Donna McClure dmcclure@ufl.edu; Greg McEachern gmc1@ufl.edu; or Murphy Miller mjmiller@ufl.edu You may also call at 392-1231 with any questions. Updates to any new information will be posted on the Payroll Internet Page: www.admin.ufl.edu/division/fa/payroll/payroll.htm.