Tax Adjustment for Parking Permit Refunds

Published by on August 6, 2021 12:25 am Comments Off on Tax Adjustment for Parking Permit Refunds in General

If you used payroll deduction for a spring/summer 2021 parking permit and were subsequently issued a refund for the permit,  you may notice a slight FICA tax increase in your Aug. 18 paycheck.  Since parking payroll deductions are a pre-tax benefit and are FICA exempt, the W-2 2021 taxable wages need to be adjusted accordingly.

For any payroll questions call the Financial Services help line at 410-704-5599 or email payroll@towson.edu. For questions regarding your parking refund, contact upark@towson.edu.

 

 

Tags: ,

Categorised in:

This post was written by Gorsuch, Pamela