Employee ACA Tax Form Information
News release effective January 14, 2016
Originally printed W-2’s have been printed and are being mailed as of 1/12/16 (some employees may have already received). Employees may see their 2015 W-2’s online via POSC starting on Monday 1/18/16.
Duplicate 2015 W-2’s
Requests for duplicate W-2’s to be printed by Central Payroll (not from POSC) will be accepted starting on 2/08/16.
2016 W-4 (fill in) forms for DC, WV and MD should be posted to our web site by COB 1/15/16.
Maryland County (piggyback) Taxes
Two counties will have a change in their local withholding rate, they are:
Worcester County - was raised from 1.25% (2015 rate) to 1.75% (new rate) and,
Anne Arundel County - was lowered from 2.60% (2015 rate) to 2.50% (new rate).
For more details on Maryland’s withholding laws, please reference the ‘Maryland Employer Withholding Guide’.
2015 Federal Tax & Withholding
The following will apply for Regular paychecks dated 1/13/16, University Paychecks dated 1/15/16 and Contractual Paychecks dated 1/6/16.
The annual Federal withholding allowance is $4,050.
- The 2016 employee social security withholding tax rate remains at 6.2%.
- The wage base for the calculation of social security taxes remains the same at $118,500.
- The 2016 wage base for Medicare remains the same at 1.45% for employees earning from $1 - $200,000 and 2.35% for those employees earning over $200,000.
For additional Federal information on taxing and withholding, reference the IRS Publication 15, (Circular E) Employer's Tax Guide, on the IRS website.
Robert Murphy, Director