Dec 28, 2015 | Atlanta, GA
As we begin 2016, the next couple of months will bring a few new initiatives from Human Resources. In addition, there are some already-established processes to keep in mind as we begin the new year.
New Tax Form for 2015 Tax Year and eW2s
By March 31, 2016, some employees will receive a new tax form regarding 2015 health care coverage called the 1095-C. If you receive a 1095-C, you will use it to prepare your 2015 tax return. However, should you not receive a Form 1095-C by the time you are ready to file your 2015 tax return, don’t worry. While the information on these forms may assist in preparing a return, they are not required.
The IRS will receive a copy of your 1095-C from Georgia Tech to determine whether you will pay a penalty for failing to have health care coverage as required by the Patient Protection and Affordable Care Act, also called Obamacare.
Employees who will receive the form include those who:
- Were enrolled in health care coverage from the University System of Georgia/Georgia Tech at any point in 2015.
- Worked an average of 30 or more hours per week or were considered a full-time employee in 2015.
The Form 1095-C is being generated and mailed by Equifax. Digital versions will not be immediately available this year. For more information from the IRS, click here. You can also view the new form on the IRS website.
Because this is a new form, the University System of Georgia Shared Services Center will handle all 1095-C related questions. Email email@example.com or call 855.214.2644 for assistance.
Also with regard to taxes, Georgia Tech continues to offer all active employees the ability to receive W2s electronically. By consenting to receive your W2 electronically instead of via mail, you:
- Remove the risk of sending your Social Security number through the mail — a very common source of identity theft.
- Have access to your W2 as soon as it is finalized by Payroll, circumventing the time involved in the printing and mailing of the form.
Log into TechWorks to review your address and consent to receive your W2 online.
Performance Management – 2015 Review and 2016 Goal-Setting
Georgia Tech strives to provide an environment where all employees understand the impact their contributions have on the achievement of Institute goals. The annual performance review process, which is aligned with the calendar year, is an integral part of such an environment.
All employees – staff, academic faculty, and research faculty, including but not limited to those in part-time and temporary positions, retired-but-working, visiting faculty, and postdoctoral fellows – should have an evaluation reflecting their 2015 performance on file by March 11, 2016.
Collaborative discussions are essential to completing performance evaluations and goal-setting activities, so employees and managers should set aside sufficient time to engage in meaningful, two-way conversations.
Human Resources provides a variety of tools to assist in creating clarity of expectations, giving and receiving feedback, building trust between managers and employees, and providing appropriate documentation. Find these tools and more at www.ohr.gatech.edu/performance.
Key dates include:
- 2015 Performance Cycle: January 2, 2015 - December 31, 2015
- 2015 Performance Evaluation & Review Period: January 4, 2016 - March 11, 2016
- 2016 Goal-Setting Period: January 4, 2016 - March 11, 2016