2004 W-2 Forms

Published: December 8th, 2004

Category: Memos

Michael V. McKee, University Controller

With the end of 2004 approaching, I would like to make employees aware of changes in how they receive their W-2, Wage and Tax Statement or 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding forms.

In the past, employees have received these forms from the State of Florida Bureau of State Payroll (BOSP). UF employees paid from Academic Enrichment Fund (AEF) also received one of these forms from Automated Data Processing (ADP) – the company responsible for AEF payroll through June 30, 2004. However, for 2004, employees who were employed prior to June 18 will receive two W-2 or 1042-S forms. One will be issued by the State of Florida for wages paid through June 30, 2004, and the other will be issued by the University of Florida for wages paid after June 30, 2004. Departmental personnel will be notified when these tax reporting forms are available for pickup at central payroll.

Please note that wages based on hours worked from June 18 through July 1, were paid on July 9, 2004 and therefore would be included in the W-2 or 1042-S issued by the university.

Also please note that with the change to processing of all payrolls by the university, employees FICA wage earnings were converted into the payroll system from both the state and ADP. As a result, for those employees whose annual compensation exceeds the maximum wages subject to FICA tax of $87,900 and who also receive a W-2 from the state, the W-2 issued by the university will report an amount in box 3 for FICA wages that will be only the amount of wages subject to FICA that were paid after June 30, 2004. The wages subject to FICA from both the university W-2 and the state W-2 need to be combined to determine the total wages subject to FICA tax.

UF employees paid from AEF funds will receive a 2004 W-2 or 1042-S form from the State of Florida for wages or qualifying payments paid by the state through June 30, 2004. The W-2 or 1042-S form issued by the university will include both the AEF wages processed by ADP through June 30, 2004 – and the combined UF and AEF wages paid by the University of Florida after June 30, 2004.

Employees should direct questions to Tax Services at 392-1324.

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