ISSS News 18 Dec 2006

An electronic news service for international students and scholars, owned by the Office of International Student and Scholar Services at Binghamton University, State University of New York

Note: The ISSS Closing Time on Friday, December 22, 2006 has changed! The ISSS will now close at 2:00pm on Friday, December 22.

The Office of International Student and Scholar Services and other University offices will be closed for what is traditionally known as the "holiday shutdown" period. We will close at 2:00pm on Friday, December 22, 2006 and will not re-open until Tuesday, January 2, 2007 at 9:00am. During this period, there will be no mail delivery into or out of the office. Voice mail, e-mail and fax will be monitored periodically, but not every day.

International students and scholars who have paperwork that needs to be processed by the ISSS should note these dates. Please do not wait until the last minute, as doing so may require you to wait until after January 2nd for documents to be returned to you!

Students on the NY State Student Assistant payroll will be paid on both 12/21/2006 and 1/04/2007. Paychecks for those student employees who have not made alternate arrangements with the Payroll Distribution Center will be mailed by Payroll to the address on the front of the check during the week of 1/02-1/05/2006. Direct Deposit advices will be held in the Payroll Distribution Center located in the old University Union Lobby, Room 105. These employees should pick up advices upon return to campus after break. The Payroll Distribution Center will be open during semester break between the hours of 11:00am to 2:00pm Monday, Tuesday, Thursday, and Friday beginning January 3, 2006, with extended hours of 8:30am to 2:00pm on Wednesday.

Faculty/Staff and Graduate/Teaching Assistants paid on 12/27/2006 will be able to pick up individual paychecks/direct deposit advices in the Payroll Distribution Center located in the old University Union Lobby, Room 105 on Wednesday 12/27/2006 between the hours of 8:00AM and 12:00 Noon. Be sure to have a photo ID with you. It is also recommended that you may note of your department sort code, which is located on the top of your paycheck/advice.

3. Five Years of Comparative International Student Data Now Available on the ISSS Website

The ISSS website has been updated to include five year's worth of international student comparative data for the period 2002-2006. The data is in three tables in the Publications section of the ISSS website: http://isss.binghamton.edu

Income Tax time is coming soon. Today ISSS-BU News answers three important tax questions for you.

Q. I've recently received a form W-8 BEN from my bank. What I should do with this form?

A. For those students who receive a form W-8 BEN from their bank, it is usually because you have opened up an interest-bearing account. It is important that you complete the form and return it to your bank to certify your foreign status. For complete information on how to fill out form W-8 BEN, go to the following web link: http://isss.binghamton.edu/taxes/formw8.html

Q. I am a full-time student at Binghamton, but I also receive a GA, TA or RA stipend. Is the stipend considered to be wages?

A. Yes, GA, TA, and RA stipends are all considered WAGES. Adjunct stipends are also wages. In general, if you receive payment for performing a service, that is considered to be wages and is taxed as income. Students with GA, TA or RA stipends are considered to be part-time employees.

The State or Research Foundation payroll offices will issue form W-2 (Wage and Tax Statement) in late January for wages you earned in calendar year 2006. The information on the W-2 will need to be included on your income tax return.

Q. During the 2006 calendar year, I worked at locations other than Binghamton University (for example, employment at a previous U.S. college or university, or authorized off campus employment). Should I be receiving a Wage and Tax Statement (form W-2) from that employer?

A. Yes! Each employer for whom you worked in 2006 is required to issue you a wage and tax statement prior to the end of January. However, students often change their addresses, so your former employer may not have your current address. Now is the time to contact your previous work places and inform them of your current address so that the W-2 form can be sent to you in a timely manner. Remember, by law, all employers MUST report your earnings to the U.S. Internal Revenue Service. So, failure to receive a form W-2 from an employer does not eliminate the requirement that you report all taxable income earned from that employer.

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