IMPORTANT PAYROLL NOTICES
IMPORTANT PAYROLL NOTICES
The December 31, 2019 pay information will be available on 12/20/2019 – via Leo Online at: https://www.leoonline.odu.edu
Information for employees receiving checks (not currently enrolled in direct deposit) - The Payroll Office will close for the holidays Monday, December 23, 2019 through Wednesday, January 1, 2020. Payroll Staff will not be available to distribute paychecks on payday, December 31, 2019. All paychecks for the December 31st payday will be distributed to departments in campus mail on Thursday, January 2, 2020.
If you do not wish to wait until January 2, 2020 to receive your paycheck, please take advantage of one of the two choices below:
- Complete an Employee Payroll Direct Deposit Authorization form and return it to the Payroll Office no later than Tuesday, December 17th to ensure that your December 31th paycheck will be direct deposited into your bank account. The form can be found on the Office of Finance web site http://www.odu.edu/content/dam/odu/offices/finance-office/docs/employee-direct-deposit.pdf
- (2) Provide a self-addressed, stamped envelope (6 x 9), with two stamps to the Payroll Office no later than December 17, 2019.
FEDERAL AND STATE TAX EXEMPT INFORMATION FOR 2020
If you are claiming exempt status for federal or state income tax withholding in calendar year 2019 the Internal Revenue service and Commonwealth of Virginia tax regulations require submission of a new W-4 or VA-4 form to continue the exemption for the 2020 calendar year. EXEMPT STATUS MEANS NO FEDERAL AND/OR STATE TAXES ARE WITHHELD FROM YOUR PAYCHECK.
To renew your tax exempt status for 2020, you must submit a copy of the NEW 2020 W-4 form – W-4 forms with dates prior to 2020 will not be accepted to claim exempt in calendar year 2020. Submit a new VA-4 form to claim exempt from Virginia taxes. Forms must be submitted to the Payroll Office in Spong Hall no later than February 17, 2020. If you claimed exempt for either Federal or State withholding and the Payroll Office does not receive a new 2020 W-4 and/or VA-4 form by February 17, 2020, your federal and state withholding status will be changed to reflect Single or Married filing Separately and you will be taxed at the applicable tax rate. Refunds for excess tax withholding may be obtained when you file your 2020 income tax returns only.
Employees may want to file an amended W-4 form if your tax filing status has changed since your last filing. If you have questions about completing the New W-4 or VA-4 forms, please contact your Payroll Processor.
EARNED INCOME CREDIT
If you are eligible for Earned Income Credit in 2019, you must claim the credit on your personal income tax return for 2019; refer to the IRS Notice 797 for detailed information.
W-2 REMINDER
Electronic receipt of W2’s will be available for CY 2019 for all active employees on or before January 31, 2020. You must use Leo Online and give your consent to receive your Tax form electronically. Go to Leo online. From the Main Menu, select (1) Employee (2) Tax Forms (3) Electronic W2 Consent (4) Then under Selection Criteria you will see a box with the words “My Choice” above it. Click the box (5) then click submit. You will NOT receive a confirmation message – if the box is checked after you click submit, you have consented. If you have already consented to receive your W2 electronically, please do not resubmit.
By consenting to receive your W-2 electronically, you agree to return to this site between January 31 and October 15 of the appropriate year to print your W-2 form on-line. You may be required to print and attach your W-2 form to a Federal, State, or local income tax return.
Your consent will be valid for all subsequent tax years unless revoked by you, upon termination, or if this service is not supported in a future given tax year. You may revoke your consent and receive a paper Form W-2 by accessing the site and unchecking the consent box, or providing written notification to the Payroll Office.
W-2 forms for those who do not consent to receive electronic W-2s and for terminated employees will be mailed to the home address on file on or before January 31, 2020.
Posted By: Gloria Boone
Date: Wed Dec 11 18:27:33 EST 2019