Students’ performing services for the University of Miami are considered to be receiving wages that are subject to all federal, state and local taxes. Students will receive a W-2 form from the University Payroll Office before January 31st. Wages are reportable on a W-2 tax form.
Federal Income Tax:
Students are required to complete the W-4 (Employee's Withholding Allowance Certificate) in Workday as a part of the job assignment procedures. A student CANNOT claim exempt from federal withholding tax if:
(a) his/her income exceeds $1,050.00 and includes $350 of unearned income(interest, dividends);
(b) another person can claim him/her on their income tax return.
In order to claim "exempt" from federal withholding tax, you must meet both the following conditions for exemption:
- Last year, you had a right to a refund of all federal income tax withheld because you had no tax liability, and
- This year you expect a refund of ALL Federal income tax withheld because you expect to have no tax liability.
If you do not complete a W-4 form, the University Payroll Office will apply federal withholding tax based on Single with "0" allowances.
Social Security (FICA) and Medicare Tax:
Students are exempt from FICA and Medicare taxes as long as they are fully, financially enrolled in a degree-seeking program at least half-time for each semester. If, at any point, the student is not financially registered in full, he/she will no longer be exempt, and the FICA/medicare taxes will be deducted. If the academic load of the student is half-time or greater for a term, the student worker will be FICA exempt for the term begin date to the term end date.
Calendar Year Tax Forms:
All University of Miami employees, including students receiving wages will be provided with an annual W-2 form on or before January 31st for the prior year's earnings, by the Payroll Office. It's the responsibility of the student to update their current address in Workday in order to receive their W-2 at the desired mailing address.
1042-S Tax Forms
1042-S tax forms are provided by the deadline of March 15th.The 1042-S tax form is a year end tax document provided to:
- Non-Resident aliens who received wages exempted from federal withholding tax by a tax treaty.
- Wages in which there was no tax withheld due to the claiming of a tax treaty
- In some cases, non-resident aliens will receive only a 1042-s and others will receive both a 1042-S and a W-2, in this case treaty exempt wages will be reported on a 1042-s form and the taxable non-treaty exempt wages will be reported a W-2 form.
- If there is no tax treaty, all of your wages are reported on a Form W-2
In order to claim a tax treaty exemption a Foreign National Information Form must be completed and sent to the Payroll office every January. You may find the form on the
Payroll website.