AFM News

In This Issue:

• 2021 Tax Forms Available Starting Late January  
• Maximum Dollar Amount for Flower and Perishable Purchases Increased to $200
• In Case You Missed It: TXShop Service to Be Phased Out
• Submit Newsletter Feedback and Article Suggestions to AFM@austin.utexas.edu

2021 Tax Forms Available Starting Late January

After engaging with stakeholders and hearing feedback on the previous policy, the maximum dollar threshold for flowers and perishable items is increasing from $100 to $200. This change will provide colleges, schools, and units (CSUs) with greater flexibility when purchasing these items for things like events, celebrations, memorial events, condolences, and get-well messages.

Various tax forms issued by UT for 2021, including the W-2, 1099-NEC, & 1099-MISC, will be available starting late January.

In This Issue:

• Opt In to Electronic Only Receipt of W-2 Forms  
• TXShop Service to Be Phased Out
• Submit Newsletter Feedback and Article Suggestions to AFM@austin.utexas.edu

Opt In to Electronic Only Receipt of W-2 Forms  

The askUS TXShop team has announced plans to phase out the TXShop service over the next four years. The University created the TXShop service over ten years ago to fill a campus need for an online payment and event registration service. In the years since, more modern solutions have become available and are increasingly being adopted by groups across campus.

Tax Year 2021 W-2 Forms will be available in Workday before the January 31, 2022 deadline. The University encourages all employees to opt in to electronic only receipt of their W-2 Form. Electronic receipt ensures secure and convenient delivery of the W-2 Form through Workday and helps reduce unnecessary paper usage. Opt in now by following these quick and easy steps.

The Procurement and Payment Services team, in partnership with J.P. Morgan Chase, is launching a new method of supplier payment called the Single Use Virtual Credit Program (SUVC). The new payment type sends virtual credit card information to vendors replacing traditional check and ACH payments.

The SUVC program provides benefits for both the university and our vendors.

University benefits include:

In This Issue:

• 13th Month for Fiscal Year 20-21 Now Closed  
• AFM Assists with Recent Real Estate Acquisitions 
• UT Launches New Single Use Virtual Credit Program
• In Case You Missed It: Financial Reporting Resources to Save and Share
• Submit Newsletter Feedback and Article Suggestions to AFM@austin.utexas.edu

13th Month for Fiscal Year 20-21 Now Closed