In an effort to reduce the time and effort required of Regents and SHARP agency
personnel as well as Payroll Services staff at the end of the calendar year, the 2001
W-2 production reports will be produced throughout the calendar year. By producing the
reports on a scheduled basis during the year, the work associated with identifying and
correcting errors/address problems can be more evenly distributed. Following is a list
of the dates the 2001 W-2 production reports are scheduled to be generated:
Friday, February 16, 2001 Agencies should anticipate finding copies of the KTXPR55 and TAX910ER reports in their agency directory on the first working day following the above listed scheduled dates. Agencies should access the TAX910ER through Rapid Filer to review the report; a copy of the TAX910ER will be distributed to paper agencies. Any necessary corrections should be processed as soon as possible to eliminate the error from appearing on the next TAX910ER report that is generated. No action is required by the agency on the KTXPR55. Once the W-2s for 2001 are complete, a final KTXPR55 report will be generated for each agency's information and review. In addition, the Regent's institutions will receive, via either e-mail or fax from Payroll Services, a copy of the errors from the 2001 KTAX900 report. The KTAX900 report should be thoroughly reviewed and any correcting transactions processed timely. It will continue to be the Regent's responsibility to use the Management Reporting Interface file (MRI) to reconcile the year-to-date amounts in SHARP to the year-to-date amounts in their individual payroll systems. Regent's institutions are also reminded, in accordance with Informational Circular No. 1242 issued March 2, 1994, to submit copies of the completed forms 8233, Exemption From Withholding on Compensation for Independent Personal Services of a Nonresident Alien Individual, to Payroll Services on a timely basis. DB:JJM:rdb
|
|||||||||||||||||||||||||||
