March
Controller
Tuition Payment Credit Reporting Requirements
26 USC 6050S; 26 CFR 1.6050S-2
Form 1098-T must be filed with the IRS by February 28th (or March 31st, if filed electronically) of the year following the calendar year during which payments were received. The proposed regulations requiring filing Forms 1098-T on magnetic media impose no additional reporting or record keeping and only prescribe the method of filing information returns that are already required to be filed.
Return of Information as to Payments to Employees
26 CFR 1.6041-2
Employers must file Form W-2 for wages paid to each employee from whom income, social security or Medicare taxes were withheld or income tax would have been withheld if the employee had claimed no more than one withholding allowance or had not claimed exemption from withholding on Form W-4. Anyone required to file Form W-2 must file Form W-3 to transmit Copy A of Form W-2. The employer must file these forms with the IRS before February 28th, or March 31st if filed electronically. Copies B, C and 2 are due to the employee by February 1st.
Internal Revenue Code
W-2 Forms
26 CFR 31.6051-1
Must file by March 31st if filing electronically
1098 Forms and 1099 Forms
FR 1.6041-1
Must file by March 31st if filing electronically
Federal Tax and FICA Tax
monthly
Environmental Health and Occupational Safety
Emergency Planning and Community Right-to-Know Act (EPCRA)
42 USC 11021 and 11022; 40 CFR 370.21 and 370.25
By March 1st of each year, the owner or operator of any facility which is required to have available a material safety data sheet for a hazardous chemical under OSHA shall prepare and submit an emergency and hazardous chemical inventory format the appropriate local emergency planning committee; the state emergency response commission; and the fire department with jurisdiction over the facility.
Financial Aid
Student Loan Interest Reporting
26 USC 6050S; 26 CFR 4.6050S-3 and 26 CFR 4.6050S-4 (see 67 FR 20901 final and temporary regulations)
Under IRC 6050S lenders, including most colleges and universities that participate in the Perkins Loan Program or operate institutional loan programs, must report student loan interest payments to the IRS. This is done by filing Form 1098-E, which must be filed with the IRS on or before March 1st or March 31st if filed electronically. The required statement to all persons who made student loan interest payments must be sent to the payor on or before January 31st of the year following the calendar year in which the interest payments were received. The statement may simply be a copy of Form 1098-E.
Human Resources
Job Openings and Labor Turnover (JOLT) Report (monthly)
29 USC 2
A monthly report sent to the Department of Labor providing information concerning Total Employment for the month; Number of Job Openings on the last business day of the month; Hires and Recalls for the entire month; Quits, Layoffs and Discharges, and other Separations.
Current Employment Statistics (CES) report (monthly)
29 USC 2
A monthly report sent to the Department of Labor providing information concerning Employee Count, Female Employee Count, Faculty Member Count, and coded response to any reason for large changes.
New Hire Report (monthly)
Personal Responsibility and Work Opportunity Reconciliation Act (PRWORA) of 1996, 42 USC 653A
Requires employers to report newly hired and re-hired employees in Georgia within 20 days of their start date. Reported are SSN, Name, Address, Department, Department Address, FED EIN, STATE EIN, HIRE REHIRE Date, and Birthdates for New hires for the month reported.
Form 1042/1042-S Filing and Information Returns
26 USC 871; 26 CFR 1.1461-1
Form 1042-S is used to report all non-employee payments to non-resident aliens and payments to nonresident employees who claim exemptions from federal income taxes due to a tax treaty. (The taxable portion of payments to nonresident employees are reported on IRS Form W-2 in January.)
The institution must file Form 1042, and copies of all Forms 1042-S with the IRS by March 15th of the calendar year following the year in which the income was paid. In addition, Form 1042-S must be sent to each recipient of an amount subject to reporting by March 15th of the calendar year following the year in which the income was paid.