The Ramapo Payroll Department is charged with the responsibility for the preparation, processing and distribution of all University payrolls and compliance with all the rules and regulations pertaining to and resulting from Payroll operations including the following:

• Ensuring accurate and timely payments to all Faculty, Staff and Student Employees
• Making all statutory deductions and verifying that all required procedures are implemented and followed as required by regulatory agencies
• Producing and maintaining records and reports as required by the College, State and Federal Governmental agencies pertaining to payroll transactions
• The Payroll Department cannot provide tax or legal advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction. The information on the website has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice.

Understanding your paystub

Faculty Pay Stub

The IRS released a new W-4 Form for 2020

Due to the Tax Cuts and Jobs Act of 2017, the Internal Revenue Service (IRS) has released a new version of the Form W-4 (Employee Withholding Certificate) for calendar year 2020.

Starting 1/1/20, all new employees and any current employee who wishes to change their withholdings will be required to use the new W-4 form and submit the form to Payroll.

Existing employees who do not wish to change their withholdings do not have to take any action.

New W-4 form for 2020 FAQs:

Who should complete the new W-4 form?

If you were hired before January 1, 2020, the IRS does not require that you submit a new form.  Your withholding will continue based on your previously submitted W-4.

Existing employees who do not wish to change their withholdings do not have to take any action.

However, if you wish to change your withholding after January 1, 2020, you will need to use the new form to do so.

What happens if I don’t submit the new 2020 W-4 form?

• If you are a current employee with a valid W-4 already on file, your withholding will continue based on your previously submitted form.
• If you are a new employee and you do not submit a valid Form W-4, taxes will be withheld as if you are a single filer with no adjustments (per IRS regulations).

Will the new changes to the W-4 Form effect my state tax withholding?

The Tax Cuts and Jobs Act does not directly affect state tax withholding, though state tax laws and forms may change from time to time. However, it always recommended to refer to the state’s appropriate governmental resources for the most up-to-date state withholding instructions and forms.

How do I view my current Tax information including my current W-4 withholding?

To view and print pay and withholding information, log onto Banner Web Self Service  using your user name and password.

Once in Banner Web Self Service , follow the steps below:

To view and print Tax Information including current W-4

1. Click on the Employee tab.
2. Click on the Taxes link
3. Click on “W-4 Employee’s Withholding Allowance Certificate” to view your current W-4

To view and print Pay Information including view Pay Stubs and Earnings History

1. Click on the Employee Tab
2. Click on the Pay Information link.
3. Click on the “All Pay Stubs” link to view pays stubs.
4. Click on the “Earnings” link to view cumulative earnings history
5. Click on the “Deductions History” link to view deductions including taxes withheld

I have more questions, where can I get more information?

The IRS has made the following resources available:

• IRS 2020 W-4 FAQ webpage
• IRS Tax Withholding Estimator

Paycheck Checkup

The IRS encourages all employees to perform a Paycheck Checkup. This process can assist employees in determining the right amount of tax to withhold from their paycheck.

To conduct a paycheck checkup, an employee needs the following information:

• Your most recent pay stubs which may be accessed via Employee Web Self Service.
• Your most recent tax return

Please note that the Ramapo Payroll Office is not able to provide individual guidance on completion of the new W-4 or any related tax implications. If you require assistance in either of these areas, it is recommended that you contact a personal tax advisor.

 

Tax Information:

• Federal Earned Income Credit Information
• NJ Earned Income Credit Calculator
• NJ Earned Income Credit Information

 

This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

Claiming an exemption from federal or state tax withholding

If you are currently claiming an exemption from federal or state tax withholding and wish to do so again in the next calendar year, you must complete new W4 Employee’s Withholding Allowance forms for both federal and state.  Please submit them to the Payroll Office no later than January 31, 2024.  If a form is not submitted, the Payroll Office will automatically withhold at the single/0 exemption rate.

FICA/Social Security:

• • • Maximum earnings: $168,600
    • Maximum deductions: $10,453.20

New Jersey:

• • • 2024 Taxable wage base: $42,300
    • Contribution rate Disability Insurance: 0.00%
    • Contribution rate Family Leave Insurance: 0.09%
    • Contribution rate Unemployment Insurance/Workforce Development: .4250%

Related Web Sites:

• IRS – forms, publications, FAQs – http://www.irs.gov
• Social Security Administration – forms, publications, FAQs – http://www.ssa.gov

Contacts:

Hours:

• Fall/Spring, Mon. – Fri.
  8:30 a.m. – 4:30 p.m.
• Summer, Mon. – Thurs.,
  8 a.m. – 5:15 p.m.

Staff:

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If you have any questions regarding payroll, please e-mail us at payroll@ramapo.edu. Questions will be answered within 24 hours.