2001 year-end reminders from Payroll Office

Cornell units and employees are advised to take notice of a series of important year-end tax and payroll activities, listed below. For further information, call the Cornell Payroll Office, 255-5194, or send an e-mail to payhelp@cornell.edu.

For all employees:

1.Semimonthly payday, Dec. 31: The last payday for exempt employees will be on Dec. 31, 2001. Checks will be distributed Jan. 2, 2002. Sign up for direct deposit immediately so that your funds are available in your bank on Dec. 31.

2.Tax document address:Check your address on your pay stub. The payroll office mails tax documents (W-2 and 1042s) to the address on the front of the check. Here's how to correct addresses:

• If you are a regular or temporary employee, change your address online in Employee Essentials via Bear Access.
• If you are a student, change your address online in Just the Facts.
• If you are moving, remember to provide a forwarding address to the U.S. Post Office.

3.Social Security number and name validation:Compare the Social Security number and name in the upper left corner of your check to the information on your Social Security card. If there are any errors, give a copy of your Social Security card to your unit's payroll representative so the error can be corrected. Any discrepancies may affect the Social Security Administration's record of your contributions.

4.No Social Security number or a temporary Social Security number:If you don't have a Social Security number, apply for one at the Social Security office in Ithaca and provide a copy of your Social Security card to your unit's payroll representative immediately upon receipt. Caution: A number that begins with 999 is generally not a Social Security number.

5.Exemption from federal or state income taxes expires Feb. 15, 2002:Some employees (generally students) are eligible to claim exemption from federal or state withholding taxes. The exemptions expire Feb. 15, 2002. New W-4 and IT 2014-E forms should be sent to the Payroll Office by Feb. 5 to avoid interruption of exemptions. Note: The Payroll Office will mail the W4 and IT-1204-E forms to payroll representatives in early January with additional instructions.

6.Earned Income Credit:If an employee is eligible for the earned income credit in 2002, he or she must submit a W5 (Earned Income Credit Advance Payment Certificate) before Dec. 10, 2001, to avoid any interruption in benefits.