Important 2019 Year End Payroll Information
2019 W-2 Availability
- Electronic W-2’s will be made available to employees who have given consent by January 17, 2020.
- Paper W-2’s will be mailed to employees who have not given consent to receive them electronically on January 31, 2020. Paper W-2’s will not be available for pick up in Human Resources.
Verify Your Personal Information
- Verify your personal information through GRCC self-service by following the instructions found at http://www.grcc.edu/payrollandbenefits/forms/yearend. Any personal information changes should be emailed to Human Resources at email@example.com no later than January 6, 2020 to be reflected on your 2019 W-2.
Update your Tax Withholding Forms
- NEW 2020 tax forms will be available in January on the payroll web page at https://www.grcc.edu/humanresources/forms/payrollforms. New tax forms should be completed if:
- You moved in or out of the cities of Grand Rapids or Walker.
- Your filing status has changed.
- You are currently claiming exempt, to not have any withholding for Federal or State taxes, you are required to complete a new 2020 W-4 no later than February 3, 2020.
1095-C Tax Form
- All benefited employees will receive a tax form 1095-C from PlanSource in the mail. The form contains information regarding Employer-Provided Health Insurance Offer and Coverage that you may need to report as part of your 2019 tax return.
For Informational Purposes Only
- The 2020 Social Security tax rate is schedule to remain 6.2%, and the Medicare tax rate remains 1.45%.
- The 2020 social security wage base will increase to $137,700.00.
- The 2019 limitation for elective deferrals under a 403(b) or 457(b) will increase to $19,500 and the additional catch up provision for individuals age 50 and over will remain $6,000.00, for a total of $26,000.00