Payroll Department
FREQUENTLY ASKED QUESTIONS
What is the OASDI deduction on my check?
OASDI (Old age, Survivors, and Disability Insurance) represents Social Security tax. The current rate is 6.2% and the wage base for 2000 is $76,200. This is a mandatory federal tax withholding.
What is the HI deduction on my check?
HI (Hospital Insurance) represents Medicare tax. The current rate is 1.45% There is NO wage base limit for Medicare tax. This is also a mandatory federal tax withholding.
*REMINDER: Any deductions covered under the Commonwealth's Flexible Reimbursement Plan (i.e.: Premium Conversion, Dependent Care, Medical Reimbursement) are not subject to OASDI or HI tax. These deductions are also exempt from Federal and State withholding.
What does the term "Imputed Life" represent?
The Commonwealth provides life insurance coverage for eligible employees based on their annual salary. The coverage amount is the employee's annual salary rounded up to the next $1,000 and doubled. The Internal Revenue Service has determined that the value of coverage in excess of $50,000 must be included in the employee's income and is subject to federal, state, and social security taxes. Imputed Life represents a calculated amount based on the coverage amount over $50,000 and is added to an employee's taxable wages on the 16th pay check.
How long does it take to get my direct deposit started?
It usually takes at least two pay periods to get a direct deposit started. You will receive a paycheck in the interim.
If I stop my direct deposit now, will it go into effect immediately?
Yes, as long as the form is received prior to the final running of the payroll. If you send it through campus mail, it may not reach us in time. If in doubt, please hand deliver to the Payroll Office.
How do I change my address?
Employees can change their address by coming to the Payroll Office or e-mail us with the change. Please include your social security number. You may also fax us a letter with your name, social security number, new address and signature. Fax us at (434) 395-2152.
What is FICA?
FICA is the combined deductions of OASDI and HI. All employees are subject to both FICA taxes. Generally, students are exempt from FICA tax if they meet the IRS requirements for student exemption.
Can I get my check early?
We will not distribute checks prior to the official pay date. If employees are unable to pick up their check on payday, please make other arrangements to receive your check.
1. You may have your check direct deposited at your bank. 2. You may have your check mailed to your department. 3. You may have someone pick-up your check. (Individual picking up your check must have your approval and some form of identification)
How do I change my tax deductions?
Employees can fill out new Federal and State tax forms at the Payroll Office or you may download the forms as follows:
Federal W-4 http://ftp.fedworld.gov/pub/irs-pdf/fw4_00.pdf State VA-4 http://www.tax.state.va.us/pdfs/businessforms/fva496.pdf
I've started work but I haven't gotten a timecard yet. What should I do?
The first thing an employee should do in this situation is to check with his/her department and/or immediate supervisor. We are unable to issue timecards to employees on whom we have not received the completed new hire information.
I've lost my check. What should I do?
An employee who has lost their check should first exhaust every resource to locate the check. If the check is not found, please contact the Payroll Office at 395-2087 immediately. A stop payment will be made on the check and a re-issue will be requested. It will take approximately 10 days to receive a new check. Advances will not be made to replace a lost check. If a replacement check is issued and the employee finds the lost check, the employee should bring the lost check to the Payroll Office. Since a stop payment was issued on the original check, you will not be able to cash it at any financial institution.
Why didn't I get paid this time?
If the employee is a part-time hourly wage employee or a student, and they have not turned in a timecard, they will not receive a check until his/her timecard has been received. Employees should check with their departments first and make sure their timecard has been turned in to Payroll by the deadline. Once the issue has been resolved and a timecard is received, the employee will be issued a check on the next scheduled payday. Advances will not be made if employees fail to turn in their timecards. If this is for special or one-time payments, check with your department to see if the proper paperwork was completed and turned into Payroll.
Why was I cut so much Federal Income Tax from my bonus check?
Bonus payments are considered supplemental wages by the IRS and are therefore subject to a 28% flat federal tax withholding.
Can I get a copy of my W-2 if I lose my original?
Employees that wish to receive a duplicate W-2 should come by 333 Lancaster Hall and provide their name, social security number and the year for the duplicate W-2. It is preferred that you make the request in advance to provide Payroll with adequate notice to issue the duplicate. Please call (434) 395-2087 or fhuddles@longwood.edu
How do I stop a payroll deduction?
Please contact the Payroll Office and you will be instructed as to the proper form to be used and/or the procedure to be followed. The process can vary for each deduction.
Can I deposit part of my check into another bank account?
See Direct Deposit
Return to
Accounting and Financial Reporting
10/17/2007
