This page is provided as a courtesy to University of Minnesota staff and faculty with convenient links regarding tax issues and procedures which may affect our employees. For information on tax considerations when hiring/paying employees or conducting any other official University business, please see the "Informantion for Departments" page instead.
Office of Human Resources
The University of Minnesota Office of Human resources has a whole page dedicated to information about compensation and taxes for University employees which you can visit by clicking here.
Accountable Plan
The University of Minnesota has an Accountable Plan for Employee Reimbursement. If the IRS has asked you for a statement regarding your employer's Accountable Plan, please click here.
Employee Recognition Awards
What are the tax implications of providing and receiving employee recognition awards? The chart available here provides guidance on the taxability of various items, including cash, unrestricted gift certificates, and restricted non-negotiable gift certificates. If taxable awards are made to employees, information on payroll responsibilities may be found here.
Employee Pensions
The University of Minnesota contributes to a variety of retirement plans that provide benefits for the various faculty/employee groups at the University. The University Tax Management Office works with the Office of Human Resources- Employee Benefits, to ensure that the University is complying with federal tax requirements relating to retirement plans.For information on your retirement accounts, go to the Employee Self Service Page.
Recently the IRS announced the cost of living adjustments (COLAs) to retirement plan limits for 2008. View key items by clicking here.