Procedure: 601-Tax Compliance, Reporting and Withholding on Non-Salary Payments
Resolving Tax Issues Prior to Payment
Before payment is requested, it is important that individuals be informed of the possibility that taxes may be withheld and payments may be reported to the Internal Revenue Service and the Wisconsin Department of Revenue.
Accounting Services has developed a document summarizing the potential tax implication of payments to individuals. A copy of this document, entitled "Important Tax Information", is provided in Appendix 2. Be sure to provide a copy to all individuals to whom you make payments for services, rents, royalties, prizes, or awards. If an individual has questions regarding the content of the document, he or she should be referred to their Dean Office or the Accounting Services Tax Compliance Office at 262-0582.
Procedure: 601-Tax Compliance, Reporting and Withholding on Non-Salary Payments