In This Issue:
- Announcement Regarding Vouchers Related to Inclement Weather
- 2020 Tax Forms Now Available
- Longhorn Textbook Access Pilot Program Being Tested
- In Case You Missed It: AFM Hires Tax Director
- Submit Newsletter Feedback and Article Suggestions to AFM@austin.utexas.edu
Announcement Regarding Vouchers Related to Inclement Weather
UT Austin is tracking expenses and losses due to inclement weather to report for insurance and FEMA purposes. This includes tracking time dedicated to the campus closure, communication expenses, construction repairs, additional supplies, etc. Please track all hours worked directly for the freeze. We need to be consistent with the verbiage and ask that vouchers related to these expenses include “FREEZE21” in each transaction line, DTN line, or NOTes in addition to the voucher description. Madison Leach, Financial Officer in AFM, will be leading this project and if you have any questions, please contact her at m.leach@austin.utexas.edu.
2020 Tax Forms Now Available
The 1099-MISC and 1099-NEC tax forms are now available to claim online via the My Tax Forms website in UT Direct. The 1042-S tax form will be available late February – early March.
The 1099-MISC reports miscellaneous payments to non-employee US residents. The 1099-NEC reports payments to non-employee US resident independent contractors. The 1042-S reports scholarship, cash prize and other income payments to nonresident individuals.
For individuals with high assurance UT EIDs and DUO access, you may elect to receive your form(s) electronically. Please click here and follow the directions as stated. Access to electronic statements requires an internet-enabled computer with Adobe Reader in order to view and print. Electing to receive these forms electronically will apply to any future versions of these forms received from the university until changed, unless software or our system of issuance for these forms changes.
Longhorn Textbook Access Pilot Program Being Tested
Over the years, a program that aims to help students reduce the cost of commercially published materials has been in the works. This program is called Longhorn Textbook Access (LTA) and is currently in its pilot phase for the spring semester.
The implementation of LTA is a collaborative effort among many UT departments including Enrollment Management (AIS, Registrar), Legal, Financial and Administrative Services (AFM, SAR), EBits, Provost Communications, LAITS (Canvas), the C-14 Committee, Student Senate, as well as representatives from the University Co-op, Libraries, Financial Aid, and Athletics.
Primary benefits of the program include student access to LTA course materials by the first day of class and easier planning for faculty due to said course materials being more cost efficient for students. If the pilot is successful, UT may look into a wider rollout for future semesters.
In Case You Missed It: AFM Hires Tax Director
On January 19, 2021, Lori Peterson, Executive Director of AFM, announced Kyle Zumberge will be UT Austin’s tax director within AFM effective February 1, 2021. Read the previous newsletter to learn more about this.
Submit Newsletter Feedback and Article Suggestions to AFM@austin.utexas.edu
Many thanks to the readers who have written in with suggestions and feedback about the newsletter. Please continue to write in with any suggestions for improvements or comments to the AFM@austin.utexas.edu email address.