Federal Income Withholding Tax: You may notice changes in the amount withheld for Federal Income Tax on your January 15, 2013 pay as the IRS has changed the 2013 Federal Income Tax Withholding Tables. To view the tables you can go to the Internal Revenue Service website, www.irs.gov .
Social Security/FICA Payroll Tax: On Dec. 31, 2012, the Payroll Tax Cut of 2010, which was part of the Middle Class Tax Relief and Job Creation Act of 2012, has expired. The 2010 tax cut reduced social security tax withholding from 6.2% to 4.2%, a 2% decrease for all employees. Effective January 1, 2013 the rate reverts back to 6.2% for Social Security tax withholding.
Electronic W-2 Available
The option to receive your W-2 electronically is now available on eStaff. Employees can login into eStaff to “My Information” and opt-in to receive W-2’s electronically; this will allow staff the flexibility to print their W-2 instantly. If you opt-in you will not receive a paper copy W-2 in the mail.
All employees who elect to opt-in will be able to print their own W-2 for 2012 as soon as the file is complete. W-2’s will be mailed on Jan. 31, to all employees who choose the mail option. Those that choose the mail option will also be able to view their W-2 in eStaff on Feb. 1.
W-4 Form
We are encouraging all staff members to review their current W-4. If you would like to make a change you can go to eStaff /My Information / Payroll Information / W-4 Tax Withholding. Please send it to the Human Resources Department for processing.