RESPONDING TO FEDERAL REPORTING REQUIREMENTS FOR PAYMENTS Linda Keeney & Kim Salisbury University of...
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Transcript of RESPONDING TO FEDERAL REPORTING REQUIREMENTS FOR PAYMENTS Linda Keeney & Kim Salisbury University of...
![Page 1: RESPONDING TO FEDERAL REPORTING REQUIREMENTS FOR PAYMENTS Linda Keeney & Kim Salisbury University of Idaho July 30, 2015 Business & Finance Coeur d’Alene,](https://reader035.fdocuments.us/reader035/viewer/2022062801/56649e2c5503460f94b1be9f/html5/thumbnails/1.jpg)
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RESPONDING TO FEDERAL REPORTING REQUIREMENTS FOR
PAYMENTSLinda Keeney & Kim Salisbury
University of Idaho
July 30, 2015
Business & Finance
Coeur d’Alene, Idaho
![Page 2: RESPONDING TO FEDERAL REPORTING REQUIREMENTS FOR PAYMENTS Linda Keeney & Kim Salisbury University of Idaho July 30, 2015 Business & Finance Coeur d’Alene,](https://reader035.fdocuments.us/reader035/viewer/2022062801/56649e2c5503460f94b1be9f/html5/thumbnails/2.jpg)
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SESSION RULES OF ETIQUETTE
Please turn off you cell phone/pager
If you must leave the session early, please do so as discreetly as possible
Please avoid side conversation during the session
Thank you for your cooperation!
Coeur d’Alene, Idaho
![Page 3: RESPONDING TO FEDERAL REPORTING REQUIREMENTS FOR PAYMENTS Linda Keeney & Kim Salisbury University of Idaho July 30, 2015 Business & Finance Coeur d’Alene,](https://reader035.fdocuments.us/reader035/viewer/2022062801/56649e2c5503460f94b1be9f/html5/thumbnails/3.jpg)
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INTRODUCTION
• Based on IRS Guidelines, we have improved payment process procedures
Independent Contractors (1099Misc)
Employment (W2/1042S)
Student Payments (1098T/1042S)
Coeur d’Alene, Idaho
![Page 4: RESPONDING TO FEDERAL REPORTING REQUIREMENTS FOR PAYMENTS Linda Keeney & Kim Salisbury University of Idaho July 30, 2015 Business & Finance Coeur d’Alene,](https://reader035.fdocuments.us/reader035/viewer/2022062801/56649e2c5503460f94b1be9f/html5/thumbnails/4.jpg)
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SESSION AGENDA
1.“How To Pay” Team2. Payment Workflow
3. Independent Contractors
4. Employment
5. Student Payments
Coeur d’Alene, Idaho
![Page 5: RESPONDING TO FEDERAL REPORTING REQUIREMENTS FOR PAYMENTS Linda Keeney & Kim Salisbury University of Idaho July 30, 2015 Business & Finance Coeur d’Alene,](https://reader035.fdocuments.us/reader035/viewer/2022062801/56649e2c5503460f94b1be9f/html5/thumbnails/5.jpg)
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“HOW TO PAY” TEAM
• Monthly Meetings
• Representation from A/P, H/R, Payroll, Student Accounts, Financial Aid, Purchasing, Business Process
• Process Flow Diagrams
• Informational Website
Coeur d’Alene, Idaho
![Page 6: RESPONDING TO FEDERAL REPORTING REQUIREMENTS FOR PAYMENTS Linda Keeney & Kim Salisbury University of Idaho July 30, 2015 Business & Finance Coeur d’Alene,](https://reader035.fdocuments.us/reader035/viewer/2022062801/56649e2c5503460f94b1be9f/html5/thumbnails/6.jpg)
NWEUG2015
SESSION AGENDA
1. “How To Pay” Team
2.Payment Workflow3. Independent Contractors
4. Employment
5. Student Payments
Coeur d’Alene, Idaho
![Page 7: RESPONDING TO FEDERAL REPORTING REQUIREMENTS FOR PAYMENTS Linda Keeney & Kim Salisbury University of Idaho July 30, 2015 Business & Finance Coeur d’Alene,](https://reader035.fdocuments.us/reader035/viewer/2022062801/56649e2c5503460f94b1be9f/html5/thumbnails/7.jpg)
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PAYMENT WORKFLOW
http://www.uidaho.edu/human-resources/compensation/How-to-Pay
Coeur d’Alene, Idaho
![Page 8: RESPONDING TO FEDERAL REPORTING REQUIREMENTS FOR PAYMENTS Linda Keeney & Kim Salisbury University of Idaho July 30, 2015 Business & Finance Coeur d’Alene,](https://reader035.fdocuments.us/reader035/viewer/2022062801/56649e2c5503460f94b1be9f/html5/thumbnails/8.jpg)
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PAYMENT WORKFLOW
Coeur d’Alene, Idaho
![Page 9: RESPONDING TO FEDERAL REPORTING REQUIREMENTS FOR PAYMENTS Linda Keeney & Kim Salisbury University of Idaho July 30, 2015 Business & Finance Coeur d’Alene,](https://reader035.fdocuments.us/reader035/viewer/2022062801/56649e2c5503460f94b1be9f/html5/thumbnails/9.jpg)
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PAYMENT WORKFLOW
Coeur d’Alene, Idaho
![Page 10: RESPONDING TO FEDERAL REPORTING REQUIREMENTS FOR PAYMENTS Linda Keeney & Kim Salisbury University of Idaho July 30, 2015 Business & Finance Coeur d’Alene,](https://reader035.fdocuments.us/reader035/viewer/2022062801/56649e2c5503460f94b1be9f/html5/thumbnails/10.jpg)
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SESSION AGENDA
1. “How To Pay” Team
2. Payment Workflow
3. Independent Contractors4. Employment
5. Student Payments
Coeur d’Alene, Idaho
![Page 11: RESPONDING TO FEDERAL REPORTING REQUIREMENTS FOR PAYMENTS Linda Keeney & Kim Salisbury University of Idaho July 30, 2015 Business & Finance Coeur d’Alene,](https://reader035.fdocuments.us/reader035/viewer/2022062801/56649e2c5503460f94b1be9f/html5/thumbnails/11.jpg)
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INDEPENDENT CONTRACTORS• Online Service Contract Approvals
IRS Common Law Rules
Behavioral
Financial
Type of Relationship
Coeur d’Alene, Idaho
![Page 12: RESPONDING TO FEDERAL REPORTING REQUIREMENTS FOR PAYMENTS Linda Keeney & Kim Salisbury University of Idaho July 30, 2015 Business & Finance Coeur d’Alene,](https://reader035.fdocuments.us/reader035/viewer/2022062801/56649e2c5503460f94b1be9f/html5/thumbnails/12.jpg)
NWEUG2015
SESSION AGENDA
1. “How To Pay” Team
2. Payment Workflow
3. Independent Contractors
4.Employment5. Student Payments
Coeur d’Alene, Idaho
![Page 13: RESPONDING TO FEDERAL REPORTING REQUIREMENTS FOR PAYMENTS Linda Keeney & Kim Salisbury University of Idaho July 30, 2015 Business & Finance Coeur d’Alene,](https://reader035.fdocuments.us/reader035/viewer/2022062801/56649e2c5503460f94b1be9f/html5/thumbnails/13.jpg)
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EMPLOYMENT
• Review by Employment Services
Job Duties
FLSA
Coeur d’Alene, Idaho
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NWEUG2015
SESSION AGENDA
1. “How To Pay” Team
2. Payment Workflow
3. Independent Contractors
4. Employment
5.Student Payments
Coeur d’Alene, Idaho
![Page 15: RESPONDING TO FEDERAL REPORTING REQUIREMENTS FOR PAYMENTS Linda Keeney & Kim Salisbury University of Idaho July 30, 2015 Business & Finance Coeur d’Alene,](https://reader035.fdocuments.us/reader035/viewer/2022062801/56649e2c5503460f94b1be9f/html5/thumbnails/15.jpg)
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STUDENT PAYMENTS
• Student Fee Payments
Student Accounts
• Student Resource Payments
Financial Aid
• SSN Collection through Self-Service Intercept
Coeur d’Alene, Idaho
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QUESTIONS & ANSWERS
Coeur d’Alene, Idaho
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THANK YOU!Linda Keeney: [email protected]
Kim Salisbury: [email protected]
Coeur d’Alene, Idaho