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Process for Submitting Taxable Benefits / Expense Reimbursements to Payroll
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Gift Cards
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All gift cards or certificates awarded to employees, must be reported to Payroll Services for withholding and W-2 reporting purposes.
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For more information see the University Employee Recognition Awards policy: https://policy.umn.edu/finance/expenses-appa
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Process for completing/submitting the Taxable Benefit Reporting Form:
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1)
In the Taxable Benefit Reporting Form complete the following fields:
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Department Contact InformationEnter the Submitter Name, Phone #, Department and Date
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Employee ID #Enter the employee ID for the employee who received the gift card
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Employee NameEnter the first and last name of the employee who received the gift card
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Payroll StatusEnter the Payroll Status for the employee (i.e. Active, Terminated, Short Work Break)
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Employee RecordEnter the Employee Record the gift card taxation should be applied to (i.e. 0, 1, 2, 3, 4)
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PaygroupEnter the Paygroup the employee is assigned to (i.e. PLH, P09, P10, P12)
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Non-Sponsored Combo CodeEnter a non-sponsored combo code to provide direction to Accounting Services on where to charge fringe costs related to the taxable benefit .  The combo code must contain account 700001 but fringe charges will be posted to the appropriate fringe account based on the employees job record. If you are unable to identify the combo code related to the EFS chartstring you'd like to use, please contact your department's payroll administrator to identify an alternative chartstring with an established combo code or create a combo code by entering a $0 budget journal with Account 700100 in your preferred chartstring.
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Taxable Benefit/Expense Reimbursement CodeSelect GIF for gift card
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Taxable AmountEnter the amount of the gift card
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Disbursement DateEnter the date the gift card was given to the employee
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Brief Description of reason for taxable fringeEnter the reason for receiving the gift card
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2)Submit completed spreadsheet to Payroll Services via email: payforms@umn.edu
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Expense Reimbursements
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Employee Expense Reimbursements processed more than 60 days past the event are taxable and must be reported to Payroll Services for tax withholding and W-2 reporting purposes.
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For more Information see the University Employee Expense Reimbursement policy at: https://policy.umn.edu/finance/travel-proc02
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Process for completing/submitting the Taxable Benefit Reporting Form:
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1)
In the Taxable Benefit Reporting Form complete the following fields:
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Department Contact InformationEnter the Submitter Name, Phone #, Department and Date
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Employee ID #Enter the employee ID for the employee who needs expense reimbursement taxed
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Employee NameEnter the first and last name of the employee who needs expense reimbursement taxed
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Payroll StatusEnter the Payroll Status for the employee (i.e. Active, Terminated, Short Work Break)
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Employee RecordEnter the Employee Record the taxable expense reimbursement should be applied to (i.e. 0, 1, 2, 3, 4)
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PaygroupEnter the Paygroup the employee is assigned to (i.e. PLH, P09, P10, P12)
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Non-Sponsored Combo CodeEnter a non-sponsored combo code to provide direction to Accounting Services on where to charge fringe costs related to the taxable benefit .  The combo code must contain account 700001 but fringe charges will be posted to the appropriate fringe account based on the employees job record. If you are unable to identify the combo code related to the EFS chartstring you'd like to use, please contact your department's payroll administrator to identify an alternative chartstring with an established combo code or create a combo code by entering a $0 budget journal with Account 700100 in your preferred chartstring.
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Taxable Benefit/Expense Reimbursement CodeSelect NAP for Taxable Expense Reimbursement
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Taxable AmountEnter the amount of the taxable expense reimbursement
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Disbursement DateEnter the date the employee received the reimbursement
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Brief Description of reason for taxable fringeEnter the Expense Reimbursement Number (ER #)
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2)Submit completed spreadsheet to Payroll Services via email: payforms@umn.edu
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NOTE: Payroll Services will gross-up for applicable Social Security and Medicare taxes the value of the gift card and taxable expense reimbursements for all employees who have already terminated by the time the information is submitted to Payroll for processing.
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