In This Issue:
- 2020 Tax Forms Available Starting Late January
- AFM Hires Tax Director
- In Case You Missed It: Payroll Services Preparing for Issuance of 2020 W-2
- Submit Newsletter Feedback and Article Suggestions to AFM@austin.utexas.edu
2020 Tax Forms Available Starting Late January
Various tax forms for 2020, including the W-2 and 1099-MISC, will be available starting late January. W-2 forms report wages paid to an employee and the taxes withheld for the year. 1099-MISC forms report miscellaneous payments to non-employee individuals and independent contractors. The 1042-S, which will be available in late February, reports income exempt from taxation due to a tax treaty on wages paid to individuals. For employees who paid qualified tuition and fee expenses for University classes last year, the 1098-T will also be available in late January.
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. Zumberge previously served as assistant general counsel specializing in taxation in the Office of General Counsel at UT System for over 14 years. As the tax director, Zumberge will be responsible for identification, analysis, communication, coordination and resolution of all federal, state and international tax issues for all UT Austin tax filings.
In Case You Missed It: Payroll Services Preparing for Issuance of 2020 W-2
Payroll Services is encouraging employees to elect electronic-only delivery of their W-2 to reduce the number of paper W-2 forms mailed while the university is operating at a level of reduced density in response to the COVID-19 pandemic. 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.