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Volume 11 Number 12, December 2008

Finance

Reminder:  Deadlines and Schedules for Submitting Payroll

The Division of Finance maintains Payroll Schedules and Calendars on its website. Check there for information about pay periods, when checks are distributed. The December calendar is currently available.

Payroll Overpayments

The 2008 calendar year end tax closing is upon us.  In order to make timely corrections to an individual’s payroll records (and related 2008 calendar year tax reporting), all overpayment information must be received in the Payroll Office (Attention: Compensation Accounting) no later than Friday, December 5, 2008. 

Overpayment information should include a completed “Payroll Payment Adjustment Form”; an original Yale paycheck and/or personal check (to be deposited by Payroll); and all other pertinent information regarding the overpayment.

For any questions regarding payroll adjustments please contact Debra Waitkus at Debra.Waitkus@yale.edu  or (203) 436-4321 and/or Edie Kobylanski at Edythe.Kobylanski@yale.edu or (203) 432-2886.  Or you can mail us at through campus mail at Yale Payroll Department, Compensation Accounting, 155 Whitney Ave. (Attn:  Debra Waitkus) or by regular mail, reach us at Yale Payroll Department, Compensation Accounting, P.O. Box 208356, New Haven, CT 06520-8356 (Attn:  Debra Waitkus)

2009 Update RegardingTax Treaty Forms 8233, W-8BEN and W-9

Non-U.S. citizens who are currently claiming a reduced federal income tax withholding rate (including a full exemption from withholding) on payments pursuant to a tax treaty may need to complete updated tax forms for the calendar year 2008.

Form 8233, "Exemption from Withholding on Compensation for Independent Personal Services of a Nonresident Alien Individual," is only valid for the tax year for which it is filed.  Current 8233 forms will expire on December 31, 2008.

Form W-8BEN, "Certificate of Foreign Status of Beneficial Owner for United States Withholding," is effective for three calendar years.  W-8BEN forms filed in calendar year 2006 will expire on December 31, 2008.

Form W-9, "Request for Taxpayer Identification," is used to claim tax treaty benefits by a resident alien for tax purposes.  When the form is used to claim tax treaty benefits, the form must be updated annually with respect to wages and every three years for fellowship or stipend payments.

All individuals who are currently claiming a reduced withholding rate pursuant to a tax treaty and whose exemption forms will expire on December 31, 2008 will be notified by letter or email in mid-November 2008.  The notification will instruct individuals about the required steps to claim a reduced withholding rate for calendar year 2009.  Renewed treaty forms must be submitted to the International Tax Office by December 23, 2008 and will be effective for payments made on or after January 1, 2009.

For further information, contact the University Tax Office by calling 432-5530 or 432-5597 or by emailing daysi.cardona@yale.edu

Please note that t he University Tax Office relocated on November 15, 2008, to 25 Science Park, 150 Munson Street.  Shuttle service is available to the new location.  25 Science Park is located at stop #7 on the Red Line. For shuttle information and schedules visit the Yale Parking and Transit website.