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Aug 05, 2014 to Dec 05, 2014

Audience: Faculty, Staff

Keywords: n/a

Description:

In preparation for the summer 2014 semester, please be reminded that UCF employees can claim up to $5,250 in tax-free educational benefits for graduate level and
higher coursework (section 127, Internal Revenue Code). Please be advised that the value of the benefit in excess of $5,250 will be taxed at the supplemental tax
rate (25%) for federal withholding, plus the appropriate Social Security and Medicare tax rates. Those taxes will be deducted from your paycheck(s) and be
included on your Form W-2.

The university does not provide tax advice. If you have questions about this information, please contact a tax professional.

Non-tax related questions regarding the educational benefits addressed above may be directed to Payroll Services by emailing payroll@ucf.edu or calling
(407) 823-2771 .

URL: n/a
Contact Person: Payroll Services
Phone: (407)823-2771
Posted By: Isha Guerrero-Londeree