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Direct Deposit (Pay Elections) 1 W-2 Forms 5: (Effective July 1, 2019)

The document provides an overview of changes to the University of Pennsylvania's payroll and tax processes effective July 1, 2019. Key changes include allowing direct deposit to up to three bank accounts, pay advices being available electronically through Workday, W-4 and tax forms being completed online, and supplemental wages being subject to federal tax withholding based on tax elections. Address changes must be promptly updated to ensure proper taxation.

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Swathi Bindu
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122 views1 page

Direct Deposit (Pay Elections) 1 W-2 Forms 5: (Effective July 1, 2019)

The document provides an overview of changes to the University of Pennsylvania's payroll and tax processes effective July 1, 2019. Key changes include allowing direct deposit to up to three bank accounts, pay advices being available electronically through Workday, W-4 and tax forms being completed online, and supplemental wages being subject to federal tax withholding based on tax elections. Address changes must be promptly updated to ensure proper taxation.

Uploaded by

Swathi Bindu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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University of Pennsylvania Workday 2019

Payroll and Payroll Tax Fact Sheet (effective July 1, 2019) Last Updated: April 26, 2019

1 Direct Deposit (Pay Elections) 5 W-2 Forms

• You can now direct your pay to up to three (3) different bank accounts. • W-2 Forms beginning with the 2019 Tax Year will be available in Workday.
• Pay Election (Direct Deposit) account information is no longer validated by the bank prior • Tax Years 2018 and 2017 will be available via the “My Tax Info” link on the U@Penn Portal.
to payment, eliminating delays in availability of direct deposit. • W-2 Forms for years prior to 2017 can be obtained by contacting the Payroll Office.
IMPORTANT!! You should review your banking information carefully before submitting. An • You are encouraged to select electronic delivery of your W-2.
error in banking information could result in a delay in receiving your pay.

2 Credit Union Account 6 State Tax Withholding

• Credit Union accounts will show as a Pay Election (Direct Deposit) account to which • Individuals who are subject to state withholding in both their states of work and of
payments are directed. residence will have tax withheld for both states.
• Credit Union accounts will count as one (1) of the three (3) bank accounts allowed for direct deposit. • This does not apply to states with reciprocal agreements with Pennsylvania (e.g., New Jersey).

3 Pay Advices (Pay Slip) 7 Federal Tax Withholding – Supplemental Wages

• Pay Slips (Pay Advices) will no longer be printed, but will be available to view and print in • Supplemental wages such as bonuses, allowances, or vacation pay-outs at separation will
Workday. be subject to federal tax withholding using the appropriate federal tax table based on your
W-4 tax elections.

4 W-4 and Other Tax Forms 8 Address Changes

• Federal and State W-4 forms as well as Local Residency Forms can be completed • You are responsible for promptly updating any changes to your home address to ensure
securely on-line at any time day or night. proper taxation. You should also verify that your supervisor has made any necessary
changes to your work address.

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