Withholding Exemptions and Earnings Reports – 1.2022

Policy No. 1.2022
Subject: Withholding Exemptions and Earnings Reports
Issued By: Department of Human Resources
Approved: 3/9/2012
Effective: 3/12/2012
Revised: 12/2/2011

POLICY: Florida Memorial University requires all employees to complete a W-4 form prior to their initial date of employment. Federal income tax will be deducted from salaries and wages of all university employees.


Federal Income Tax is computed based on current federal tax tables and the designations and exemptions claimed by the employee on his/her W-4 form.

Following the end of each calendar (or tax) year, employers must report wages and tax. information to the Internal Revenue Service (IRS) and the Social Security Administration (SSA) as part of the W-2 reporting process.

Employees are also required to complete an additional W-4 form, to report any changes of the number of exemptions or other tax filing changes. If there is a change in name, the employee must report this change to the Social Security Administration and the appropriate form is available in the Department of Human Resources.

All University employees will be provided an annual W-2 form on or before January 31″ of each year. The W-2 forms will be available on the website for payroll transactions.