You can help ensure that the Social Security Administration correctly posts earnings to your retirement earnings account. Make sure your name under Home Address in the Personal Information section of Employee Online (available via your Employee Dashboard) matches exactly with your current Social Security card name. Report any discrepancies to Payroll immediately. Any name discrepancy means the Social Security Administration will not be able to post earnings to your retirement earnings record correctly, and it could result in a penalty to the Agency.
Tax filing season is a good time to review the amount of federal and state income tax you are having withheld from your paycheck. Have you had any major life changes, e.g., gotten married, had a child, purchased a home, experienced your spouse beginning or stopping work, etc.? Your income tax withholding can be adjusted at any time through Tax Information in the Tax Status section of Employee Online. You can model the impact of your tax withholding changes on your net pay by using the What If calculator under the Pay Check section under the Employee Online tab.
Uncertain how to determine if you’re having the right amount of federal income tax withheld from your paycheck? IRS Publication 919, “How Do I Adjust My Tax Withholding,” may be a useful tool for you. The 2012 version of this publication should be available around February 1. You can obtain this publication from the IRS website at http://www.irs.gov/pub/irs-pdf/p919.pdf.
Please consult with your tax preparer, legal advisor, the IRS or the Iowa Department of Revenue with your specific tax questions. Heartland cannot provide tax advice or help you complete tax forms. Payroll questions can be directed to Steve Jordan, Payroll Specialist, at ext. 14908 or Michelle Westcott, Payroll Specialist, at ext. 14422.
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