Information from Payroll on Tax Forms


January 3, 2008

Happy New Year to Everyone!

Tax season is upon us again. This memo contains some general tax information that I would like you to share with your administrators, employees, and students. We would also appreciate your posting this information in common areas.

Tax forms will be mailed from Payroll and Accounts Payable at different times between January 31, 2008 and March 1st.

Please contact Payroll or Accounts Payable after February 1, 2008 if you have questions about the forms you will receive.

Tax Form

Issued for:

Issued by:

W-2

Employee and students salary and wages payments except wages exempt under a tax treaty

Payroll Office

1042s

Non Resident Alien employees and students salaries covered by tax treaties and fellowships covered by a tax treaty (for which there was no income tax withholding ) or fellowships not covered by tax treaty which had federal income tax withheld

Payroll Office:
salary and wage payments, fellowships

Accounts Payable:
honoraria, prizes and awards, fellowships, non-graduate student salaries etc.

1099-MISC

Independent contractors, royalties and other income

Accounts Payable

1099-R

Pension payments to retirees & Long Term Disability

Payroll Office

Please notify the foreign nationals in your area that if they qualify for a Tax Treaty in 2008, please come by the HR/Payroll Office during January 2008 to fill out new forms, or they can email mdailey@mit.edu to request forms.

If the foreign nationals in your area are Fellows who filled out tax forms in 2007, their next scheduled sign up will be in 2010. (Please note: Fellowship Tax Treaties are effective for three years).

Foreign nationals are encouraged to check the IRS web site www.irs.ustreas.gov -Publication 901-US Tax Treaties to ensure that they qualify.

Please note that your employees/students must have received all their tax forms before filing their tax return(s).

Contact Information:

Payroll Office:

Email: payroll@mit.edu
Phone: 617-253-4255
Fax: 617-258-9700
Web: http://controllers.mit.edu/payroll

Accounts Payable:

Email: accounts-payable@mit.edu
Phone: 617-253-2750
Fax: 617-253-2412
Web: http://controllers.mit.edu/accounts_payable

Additional Information:

Internal Revenue Service web site http://www.irs.gov/

Massachusetts Department of Revenue site http://www.mass.gov/?pageID=dorhomepage&L=1&L0=Home&sid=Ador

Sincerely,

Charlotte

Charlotte A. Watson
Payroll Operations Manager