Check 2010 W-2 and Tax Information

Posted by Karen Lykins - Wednesday, January 26 2011
klykins@tntech.edu
Office of Communications & Marketing

The 2010 W-2s were mailed on Monday, Jan. 24, and they are also available on Banner Self Service. W-2s were mailed to your current mailing address in Banner. If you are one of the 93 employees who chose to receive your W-2 electronically, please sign into Self Service for your information and Thank You for choosing to go paperless. If you do not remember your PIN for Banner Self Service and do not know answers to your security questions, please bring your photo ID to the Computer Center window in Clement Hall - Room CH226 (extension 3388) and they can reset your PIN number. PIN numbers can no longer be reset over the phone by Human Resources.

Online W-2s are...

· Safe, secure and approved by the IRS

· Better for the environment – less paper

Instructions on printing W-2 from Banner Self Service

· Sign into Banner Self Service

· Employee Tab

· Tax Forms

· W-2 Wage and Tax Statement, Choose 2010, Display and then print

Instructions on electing to receive an Electronic W-2

· Sign into Banner Self Service

· Select Employee Tab

· Select Tax Forms

· Select Electronic W-2 Consent

· Read your rights and if you want to receive W-2 electronically – check the box and submit

· Once you submit, starting with the 2011 W-2 -you will only receive your W-2 electronically.

For federal tax purposes, the following pre-tax benefits are excluded from the gross taxable federal wages in Box 1 on the employee's W-2:

· Contributions to 401K traditional – NOT Roth

· Contributions to the 457 Deferred Compensation Plan

· Contributions to the 403(b) Tax Sheltered Annuity Plan

· Health and Dental premiums – if you did not opt out

· Contributions to the Flexible Spending Account – health and dependent care

· Parking Permit – if by payroll deduction

Note to foreign employees about 1042-S forms

If you are an employee who has claimed exemption from income tax withholding based on a tax treaty, your exempt treaty wages will be reported on a 1042-S form. Your taxable wages (if applicable) will be reported on a W-2 form.

The 1042-S forms will be delivered to the foreign employees separately from the W-2 forms. They will be distributed by March 15, 2011 in accordance with IRS requirements.