Happy Spring! I hope that you’re enjoying the warmer temperatures and longer days! And if you’re a basketball fan, I hope that your team is still alive in March Madness!!
Pay Stubs – Please Review Frequently
Tax Set-Up – Please Review
You never know what you will find or in some cases do not find on your pay stub. Please take a moment and find your pay stubs in Paylocity.
We’ve heard from several team members with questions regarding withholding for federal taxes and while everyone’s tax situation is different, it is important to note that the IRS made sweeping changes to employee withholding along with the change of the W-4 in 2020. The new W-4 reflects changes to the federal tax code from the Tax Cuts and Jobs Act that was signed when President Trump was in office.
The IRS says the redesign was made to have withholding match employee liability. In many cases, the changes resulted in a reduction of federal income tax withholding per paycheck OR no withholding of federal income taxes at all. Please take a moment to review your pay stub and check your tax set-up!
Always remember that a high number of allowances or dollar amount of dependents reduces the amount of income taxes deducted.
Please remember to check out Robin’s video https://youtu.be/Ykk17k0P36g that is also published on our Employee Portal. In this short video, she provides a wealth of information regarding taxes and W4s.
The IRS has an excellent estimator tool at: https://www.irs.gov/payments/tax-withholding
Please log into Paylocity and review your personal tax set-up. This is VERY IMPORTANT. The IRS’ tool can help you calculate and determine your filing status.
You can make all changes in Paylocity. No forms needed.
QUESTIONS? Send an email to AskHR
Spring is in the air and the days are getting longer. For some, this means the height of allergy season. Please remember that your total wellness is important to us! If you have a need to connect with complimentary (and confidential) coaching and counseling, please remember our CP&S Employee Assistance Program is available to you and your family members.
Employee Assistance Program – Please remember our partnership with Wayne Corp. that provides an employee assistance program for all team members. What is the employee assistance program (EAP)? It provides professional help to team members and their household members who are struggling with issues such as emotional difficulties, stress, relationship problems, marital distress, alcohol/drug problems, and financial & legal issues. Wayne Corp. is a firm that specializes in personal counseling, and their services are available to all team members at no charge! The team at Wayne Corp. believes that you are important also and they pledge confidential, timely, and caring service. Wayne Corp. is available 24/7 at 502-451-8262.
Stay healthy, Helen Schrock, PHR, SHRM-CP Director, People Resource Center