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 2007
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. The following
is a list of the dates the 2007 W-2 production reports are scheduled to be generated:
Friday, February 9, 2007 Agencies should anticipate finding copies of the KTXPR55 and TAX910ER reports in their agency mailbox on the MVS on the first working day following the above listed scheduled dates. 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-2’s for 2007 are complete, a final KTXPR55 report will be generated for each agency’s information and review. In addition, the Regent’s institutions will receive the report TAX900 in their agency mailbox on the MVS. The TAX900 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. RLM:JJM:ntr
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