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Payroll

Administration and Finance

Year-End Information Returns/Forms

Q: What is a W-2, 1042-S, 1095-C and 1099-MISC?

A: These are income reporting forms which are required to be issued by employers and payers to report your income and withheld taxes, if any, to you and the Internal Revenue Service. The IRS uses this information to compare against your tax return to assure that you are reporting your income on your return. The forms report different types of income:

  • Form W-2 is for taxable wages of U.S. citizens, resident aliens, and nonresident It also includes Social Security and Medicare wages and taxes which are used by the Social Security Administration for determining future social security benefits. Questions about this form should be directed to Payroll at 585-275-2040.
  • Form 1042-S is used for reporting income other than taxable wages to nonresident The Income Code (IC) indicates the type of income reported on the form such as 16 (scholarship or fellowship), 18 (compensation for dependent personal services),19 (compensation for teaching/research), 20 (compensation during studying/training), and 54 (other income awards/prizes). Questions about this form should be directed to Payroll at 585-275-2040.
  • Form 1099-MISC is for various types of payments such as non-employee compensation. Questions about this form should be directed to Accounts Payable Office at 585-275-3483
  • Form 1095-C- related to the Affordable Care Act (ACA), is a certificate of Employer-Provided Health Insurance Offer and Coverage.  All employees receive a copy of their 1095-C as certification of the month(s) in which they have received health care coverage under the University’s benefit plan. Questions about this form should be directed to the Total Rewards Office at 585-275-2084.

 

Q: I received a Form 1098-T. What is this for?

A: Form 1098-T reports qualified scholarships and related expenses for purposes of the Hope and Lifetime Learning Credits. Nonresident aliens are not eligible for these credits even if they receive a Form 1098-T. The IRS regulations state that, although no Form 1098-T is required for nonresidents, education institutions may create the form for all students for administrative ease since many student systems lack information about the tax status of the students. Residents are eligible for the credits under the same rules that apply to U.S. citizens. For information about the credits, refer to IRS Publication 970. Question about this form should be directed to Bursar Office at 585-275-3931.

 

Q: My wages on my W-2 do not match my final check stub of the year. Is this a problem?

A: The W-2 reflects taxable earnings while the check stubs reflect total earnings. To convert from total earnings to taxable earnings, you need to subtract the nontaxable deductions, including parking deductions, HSA deductions, medical and dental deductions, flexible spending account deductions, and dependent care deductions and retirement deductions (403(b), 457). These deductions are itemized in boxes 12, 13, and 14 of the W-2.

 

Q: I am a nonresident alien on a treaty, will I get another form in addition to my W-2?

A: Nonresident aliens who both qualified for a treaty exemption and completed the necessary paperwork, will receive a Form 1042-S showing their treaty exempt earnings. The Form 1042-S is required before you can complete your income tax return. Forms 1042-S is required to be mailed out by March 15th.