IMPORTANT PAYROLL NOTICES

IMPORTANT PAYROLL NOTICES

FEDERAL AND STATE TAX EXEMPT INFORMATION FOR 2024

If you were claiming exempt status for federal or state income tax withholding in calendar year 2023 the Internal Revenue Service and Commonwealth of Virginia tax regulations require submission of a new W-4 or VA-4 form to continue the exemption for the 2024 calendar year. EXEMPT STATUS MEANS NO FEDERAL AND/OR STATE TAXES ARE WITHHELD FROM YOUR PAYCHECK.

To renew your federal tax-exempt status for 2024, submit a copy of the 2024 W-4 form. Submit a new VA-4 form to claim exempt from Virginia taxes. Submit forms to the Payroll Office in Spong Hall no later than February 15, 2024. If the Payroll Office does not receive a new 2024 W-4 and/or VA-4 form by February 15, 2024, your federal and/or state withholding will reflect your last status prior to claiming exempt. If there is no prior form your status will reflect single or married/single.

 Employees may want to file an amended W-4 form if your tax filing status has changed. If you have questions regarding completing the W-4 or VA-4 form, please contact the Payroll Processing Supervisor at e1herrer@odu.edu.

EARNED INCOME CREDIT

If you are eligible for Earned Income Credit in 2023, you must claim the credit on your personal income tax return for 2023; refer to the IRS Notice 797 or IRS.gov for detailed information.

Posted By: Gloria Boone
Date: Wed Dec 13 17:36:52 EST 2023