Personal Use of Vehicles for 2024
HR Accounting reminds departments that an employee's personal use of university vehicles is a taxable benefit to the employee and must be reported on the employee's W-2. Note that commuting between the employee's home and work in a university vehicle is considered personal use of the university vehicle, and is a taxable benefit to the employee. The use of university vehicles for an occasional personal errand is considered a de minimis fringe benefit and is non-taxable. Use of clearly marked police and fire vehicles and qualified utility repair vehicles are exempt from the reporting Requirements.
Please refer to to identify which vehicles your department is responsible for (see column H for Org titles) and refer to the instructions and worksheets to your employees who have access to use your department vehicles for their personal use (more than just an occasional errand).
These employees are required to complete the employee notification statement and worksheets, and return them to 澳门六合彩开奖appPayroll by November 8, 2024.
Published 5/17/23 澳门六合彩开奖appNews
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