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UNI Online
Vol. 2, No. 22
October 26, 2000
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EMPLOYEE RESOURCES
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FICA PRIVATE LETTER RULING REQUESTED: Earlier this year the Regents
universities were advised by their tax consultant, Deloitte and Touche,
that we do not need to collect and remit FICA tax on employees mandatory
contributions to the TIAA-CREF retirement program. The universities
agreed that seeking a refund and ceasing to pay the FICA tax in the future
is in the best interest of our employees. The first step in the process is
to secure a private letter ruling from the Internal Revenue Service (IRS).
The IRS has been known to take as long as one year to respond to a private
letter ruling request. The FICA taxation of TIAA-CREF contributions will not
change without a positive IRS private letter ruling. University employees will
be kept informed through UNI Online as new information becomes available about
the FICA refund.
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PAYROLL DEADLINES FOR CALENDER YEAR 2001: The website below lists
various monthly time period cutoffs for merit and student time sheets
and final dates for any payroll changes.