Employee Tax Forms For Tax Year 2017
USU will provide various tax forms for employees for tax year 2017. The two most common forms are form W-2 and form 1095-C. Form W-2 shows wages and income. Form 1095-C shows information related to health insurance coverage through the university.
Electronic Consent - New This Year
Utah State University (USU) is pleased to announce that employees can now elect to receive their W-2 and 1095 tax forms online through Banner’s Self-Service application – Access. In prior years these tax forms were printed and mailed to employees. Each year many of these mailed forms are returned as undeliverable or otherwise lost. Electing to receive your form online will provide earlier access to tax forms and prevent your tax forms from being sent via mail. Several other benefits are listed below along with instructions for providing electronic consent.
Federal regulations require that employees give their consent to receive these tax forms in an electronic format. Once consent is given it carries forward each year and does not need to be repeated. Consent is given separately for each tax form.
Consent can be provided or revoked online
Benefits of Electronic Consent
- Earlier access to tax forms than with the traditional paper process
- Email notification as soon as tax forms are available online
- Eliminates the risk of your tax forms getting lost, misdirected, or delayed in the mail
- 24/7 access to current and prior year tax forms
- Multiple copies can be printed at your convenience
Delivery of Forms
Employees can get early access to tax forms by consenting to receive forms electronically. Employees who opt-in to electronic delivery will be notified by email when forms are available online.
Employees who do not wish to recieve their tax forms electronically will be mailed a paper copy of their tax forms by January 31.
Form W-2 for tax year 2017 will be generated in January 2018. Employees who provide electronic consent will have early access online as soon as they are available.
Form 1095-C is prepared for employees who were offered health insurance during 2017. This includes all employees who were benefited or ACA eligible during the year.
Form 1095-C for tax year 2017 will be generated in January 2018.
What Is It?
Form 1095-C shows if you were offered healthcare coverage. If you accepted health insurance through USU it will also show the month you (and your dependents) were covered.
For FAQs about 1095 health care forms visit this IRS page regarding health care forms.
Do I Have to Wait for Form 1095-C to File my Taxes?
According to the IRS page mentioned above "...it is not necessary to wait for Forms 1095-B or 1095-C in order to file." However if you purchased health insurance through the Marketplace you should expect to "receive a Form 1095-A [and] you should wait to file your... income tax return until you receive that form."
The page continues... "Some taxpayers may not receive a Form 1095-B or Form 1095-C by the time they are ready to file their tax return. While the information on these forms may assist in preparing a return, they are not required. Individual taxpayers should not wait for these forms and file their returns as they normally would."
What Should I Do With Form 1095-C?
- Form 1095-C may help you file your taxes (but is not required).
- Keep a copy of your Form 1095-C with your tax files.
- Please review Form 1095-C for accuracy.
My 1095-C Doesn't Look Right
If anything looks incorrect on your form 1095-C please contact the HR Solution Center at (435) 797-0122. A copy will be sent to the IRS early in March, so please let us know as soon as possible if there are any errors.
General Information Regarding Tax Forms W-2 and 1095-C
Once prepared, forms W-2 and 1095-C are available online in Banner Access (https://access.usu.edu). If you have forgotten your password you can reset your password at https://id.usu.edu. or contact the IT Helpdesk at (435) 797-HELP (4357).
The forms are mailed to the employee's mailing address listed in Banner. W-2s were sent in January. 1095-C forms will be mailed by March 2nd. The US Postal Service will not forward tax forms even if you have requested mail be forwarded to a new address. We encourage you to take a moment to verify or update your mailing address in Banner (instructions follow).
Address Out of Date?
If you have moved, take a moment to verify or update your mailing address in Banner Access (Self-Serve Banner). This will help ensure tax forms are delivered to the proper address.
- Login to https://access.usu.edu
- Click "Personal Information"
- Click "View/Update Addresses and Phones"
- If your mailing address is out of date or incorrect, click "Current" to edit your address. Then follow the directions on the screen.
- If you do not have a mailing address, add one by selecting "Mailing" as the type of address to insert, then clicking the "Submit" button at the bottom of the screen.