Year End Information for Employees
January 21, 2017
As we close
out 2016 and start again with the New Year, PICS would like to provide a few
tips to help with filing your taxes.
Check Your Pay Stub
Please check that your bi-weekly earnings statement (pay stub) is accurate. Being able to
answer “yes” to the following questions will help you receive accurate and
on-time paychecks and will make it easier to file taxes next year:
- Are your federal and state income tax withholdings correct?
- Is your name and social security number correct?
- Does PICS have your correct address?
W-2 and 1095 Forms
your mailbox for your 2016 year-end tax forms, which will be mailed to you
shortly. See below for details:
2016 W-2 forms will be mailed out on or before the IRS deadline of January 31, 2017. For our Agency with Choice (AWC) business model employees, W-2 forms will be available online at www.gppic.greenemployee.com
1095 Forms will be mailed out on or before March 3, 2017. These forms will be mailed out only to those employees who are Agency with Choice employees and who have experienced health benefit eligibility during 2016.
Maintaining Tax Exempt Status
Income tax exempt status must be renewed annually. If you claim exempt from federal and
state income tax, the IRS and the Minnesota Department of Revenue requires that
you renew this status by February 15th of every year. Please
complete a new W-4 and W-4MN and submit to PICS before this date. All
individuals who do not resubmit will be taxed at the default withholding of
single with zero allowances for any payroll processed after February 15th.