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Payroll
W-2 Frequently Asked Questions
Q
When will I receive my W2 from SMU?
A
The W2s will be mailed no later than January 31, as required by the Internal Revenue Service.
Q
Why do the year-to-date gross wages on my paycheck not match the Box 1 wages on my W2?
A
Gross year-to-date wages includes all compensation paid to an employee. Box 1 reports taxable federal withholding wages that may be different from “Total Compensation.” Box 1 Wages = total compensation minus Section 125 deductions (See below) minus 403(b) deductions plus imputed income.
Q
What is included in Total Compensation?
A
Total Compensation is your base pay plus overtime, holiday, sick, vacation or other extra compensation received by the employee.
Q
What is a ‘Section 125’ deduction?
A
Under IRS section 403(b), the IRS allows for certain employee paid deductions for the purpose of retirement to be excluded from federal taxable wages. At SMU, our retirement contributions - both regular and supplemental - meet the requirements for the 403(b) exclusion.
Q
What is a 403(b) deduction?
A
Under IRS section 403(b), the IRS allows for certain employee paid deductions for the purpose of retirement to be excluded from federal taxable wages. At SMU, our retirement contributions - both regular and supplemental - meet the requirements for the 403(b) exclusion.
Q
What is imputed income?
A
IRS requires that certain items, provided by the employer, be reported as taxable compensation. Examples are taxable tuition benefits, certain types of moving expenses, and a portion of employer-paid group term life insurance.
Q
Why does the amount in Box 1 (federal taxable wages) not match Box 3 (social security taxable wages) and/or Box 5 (Medicare taxable wages)? Why does Box 3 not match Box 5?
A
Each type of tax has a different definition for taxable wages:
Box 1 = Total Compensation – Section 125 deductions – 403(b) deductions + imputed income. (No maximum)
Box 3 = Total Compensation – Section 125 deductions + imputed income. (2007 maximum is $97,500)
Box 5 = Total Compensation – Section 125 deductions + imputed income. (No maximum)
Q
If I file electronically, do I need a "Control Number"? I don't see it on the W2.
A
The Control Number (box a) is an optional number for the use of the employer. SMU does not use it and it is not needed for you to file electronically.
Q
How do I report my dependent care from my W2?
A
Refer to IRS Form 2441, Child and Dependent Care Expenses, for instructions on how to report this information on your tax return. For additional information, contact your tax preparer or the IRS.
What do I do if my address is wrong on my W2?
A
An incorrect address does not invalidate your W2 and does not require a corrected W2.
Of course, we want your valid address in our database for future communications that may be sent to you. If your SMU job is still active, you have the ability to verify and update, if necessary, your home and mailing addresses via Employee Self-Service on Access.SMU.
Login to Access.SMU at https://access.smu.edu/index.html. When the sign-on page displays,
à Type your User ID (your SMU ID#) and Password, then click Sign In
à Under Employee Self Service (located on the right-hand side of the screen), click Change Address.
If you need to change either address, scroll to the bottom of the page and click on the Update or Correct your current address link. This will take you to a new page where you can enter your new address information. Be sure to update both the Home and Mailing addresses, if appropriate.
Q
How do I request a reprint of my W2 because I did not receive it in the mail, lost it, or accidentally destroyed it?
A
Submit a "W2 Request" form. These forms are available in the SMU Payroll Office (Expressway Tower Suite 203), or click here to download the form online.
Q
When can I ask for a reprint on my W2?
A
Your request may be submitted at any time. However, we will begin processing reprint requests on Tuesday, February 14, 2008.
Q
Who do I contact if I think my W2 is wrong?
A
Submit a "W2 Request" form to the Payroll Office. These forms are available in the SMU Payroll Office (Expressway Tower Suite 203). You may also click here to obtain the form on-line. After your information has been reviewed, a payroll representative will contact you.
Q
When can I submit this form?
A
Your request may be submitted at any time. However, we will begin processing the requests on Tuesday, February 14, 2008.
Q
I am an Aramark employee. Who will issue my W2?
A
Aramark issues your paychecks; therefore, Aramark is responsible for providing your W2 form. All related questions should be directed to
your Aramark representative.
