It is that time of year where you need to complete your U.S. Individual Income Tax Return (IRS Form 1040). All tax returns are must be postmarked by April 18th, 2017. You sit down to the table to start working on your return and realize your Form W-2 (Wage and Tax Statement) is not with your other documents. What do you do? The answer is simple. You log on to PeopleSoft Employee Self Service (Payroll for North America/ePay) to obtain a copy of your form. Your Payroll Administrator can provide you with the ability to grant or withdraw consent to receive your year-end forms electronically rather than on paper, and the ability to view and print year-end forms online. Workflow will notify you by email when your form(s) are ready for viewing. You never have to worry about misplacing your W-2 again. You can simply log on and get another copy.
After you complete your U.S. Individual Income Tax Return (IRS Form 1040) you have discovered you over withheld (or under withheld) on your payroll tax withholding. Adjusting your tax withholding can be done quickly and easily using PeopleSoft Employee Self Service (ePay). You have the ability to modify/update your withholding for both Federal and State (where applicable) using the actual agency form. Once you submit the changes you can print or save a copy of the form showing the changes you made. A copy of the form will be sent to the Payroll Administrator for their records.
Your Payroll Administrator has the ability to provide you with additional agency links related to the jurisdiction you are updating. In this example the Payroll Administrator has added a link to the IRS Website directing you to the IRS Withholding Calculator. This tool will aid you in determining what your correct withholding status should be.
(Note: You can obtain more information about the online tax withholding process by viewing the PeopleSoft Online Withholding Forms video.)
In summary using the PeopleSoft Employee Self Service processes (ePay) will take some of the stress out of tax filing season. The tax forms you need are just a click away. The only thing left to worry about is how you are going to spend that refund check.