UpDate - Vol. 11, No. 15, Page 5
December 19, 1991
Bulletin Board

1991 W-2s
     Individual W-2 forms for 1991 will be mailed to the employee's
home address prior to Jan. 31. If there has been an address change,
employees should notify Personnel Records prior to Dec. 23.
Employees with a new address will have to complete a new W-4 form.

Income tax changes
     For 1992, the individual income tax rates and the standard
exemptions have been changed. The personal exemption is increased
from $2,150-$2,300. The 1992 standard deductions have changed as
follows:
     Married, filing joint return       from $5,700 to $6,000
     Married, filing separate return    from $2,850 to $3,000
     Surviving spouses                  from $5,700 to $6,000
     Head of household                  from $5,000 to $5,250
     Single                             from $3,400 to $3,600

Social Security tax
     For 1992, the Social Security tax will be calculated at a rate
of 6.2 percent on a base of $55,000. Medicare tax will be
calculated at the rate of 1.45 percent on a base of $130,200.
     The maximum Social Security tax will be $3,441 for both
employer and employee. The maximum Medicare tax will be $1,887.90
for both employer and employee.

Parking available
     Parking spaces are available for faculty and staff in the
gate-controlled parking lot for faculty and staff at 25 Amstel
Avenue, across from Purnell Hall. This lot provides convenient
access to Hullihen, Memorial, Smith, Ewing and Kirkbride halls.
     For information, call 451-1184.