Tax Tips from Employee Services

The deadline to file your 2022 taxes is Tuesday, April 18, 2023.

Tax Extensions

Need more time? The IRS allows you to file for an extension if you complete a form 4868 by the April 18th deadline.

Common reasons to request an extension include needing to gather additional tax documentation, an unexpected life event, or tax planning purposes.

Note: The extension does not give you more time to pay your taxes, only to file them. You will still need to pay an estimated amount by the 4/18 deadline to avoid any penalties.

If you request an extension, you have until Monday, October 16, 2023 to file.

WHAT IS A 1095-C?

This form provides information on employerprovided health insurance coverage and can be used when determining if you’re eligible for a premium tax credit. You can find a copy of your 1095-C in Paycom.

Finding Your Tax Forms In Paycom

All your tax forms can be found under the Payroll tile of your Employee Self-Service Portal in Paycom. Click for additional options and choose “Year-End Tax Forms.”

Changing Your Tax Setup

You can change your tax setup at any time by choosing “Tax Setup” under the Payroll tile. These are some reasons why you may need to update your tax setup:

• If you had a baby, you may need to adjust your claimed dependents to make sure you receive all eligible child tax credits ($2k per qualifying child under age 17).

• If your marital status has changed, you may need to change your federal filing status to “married, filing jointly” or “Single or married filing separately.” If your status is “married filing jointly” and your spouse also works, you may need to check the “multiple jobs” box.

This is not legal tax advice and has been prepared for informational purposes only. You should consult your own tax advisor before engaging in any transaction.

Tb12 Of The Month

Nicole welcomed her daughter on February 10, 2023. TB sends their warmest congratulations to the family on their newest addition!

Glossary Term of the Month

Nearshoring

The beautiful thing about learning is that nobody can take it away from you.

– B.B. King

When a business moves its operations to a nearby country from one that is farther away.