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December 2018

Software Accounting Policy – Effective 1/1/19

December 13, 2018

The Software Accounting Policy (previously called Accounting for Internally-Developed Software) has been updated with an effective date of 1/1/19.

The policy defines when costs for purchased and internally-developed software or cloud-hosting arrangements must be capitalized.

The full policy may be found at the Financial Policy Website.

Software Policy Review Session – 12/18/18

December 13, 2018

Wondering when you need to capitalize purchases of software or databases? Do you know the difference between Software as a Solution (SaaS), a software license, and internally-developed software?

The Accounting for Internally-Developed Software Policy has been updated to include guidance regarding other software solutions. The updated policy will be effective 1/1/2019.

If you share these questions or have similar ones, please join us on Tuesday, December 18, 2018 from 11:00 a.m. -12:00 p.m. in the Lamont Library, Forum Room.

To attend, please register here or send an email to financialpolicy@harvard.edu with the word “12/18 Session” in the subject line.

The session is open to all; please feel free to forward this invitation to others who may be interested.... Read more about Software Policy Review Session – 12/18/18

2019 Tax Treaty Renewal Deadlines for Foreign Individuals

December 13, 2018

(If a previously claimed tax treaty exemption is already being facilitated by Harvard in the current calendar year 2018)

Per IRS regulations, certain tax treaties must be renewed annually. To meet these requirements, and claim a tax treaty exemption in calendar year 2019 (if previously determined eligible in 2018), foreign individuals MUST complete the treaty renewal process before 4 p.m. on Friday, December 21, 2018. The renewal process generally takes less than 15 minutes https://nratax.oc.finance.harvard.edu/tax-treaty-renewal.

Please review important details on our website about tax treaty processing deadlines http://nratax.oc.finance.harvard.edu/tax-treaties.

Sign up for your 2018 W2

December 13, 2018

Want to get your 2018 W2 Form sooner? Go Green! To receive an email notification as soon as your W2 is available for viewing, register with ADP following these instructions.

You must make the election before December 31, 2018! Your election will remain in effect for future years unless you opt out.

Click on this link and log in with you Harvard Key: Harvard’s ADP Portal

 

... Read more about Sign up for your 2018 W2

New ST-2 MA Certificate of Exemption Effective 1/4/19

December 13, 2018

New ST-2 MA Certificate of Exemption Effective 1/4/19

A new ST-2 form may be found at the Strategic Procurement Tax Forms website.

The ST-2 form is to show vendors Harvard’s sales tax exemption status and the current form expires January 4, 2019.

A link directly to the ST-2 form that can be sent to vendors can be found at: https://procurement.harvard.edu/files/procurement-vendors/files/certificate_st_2.pdf

Additional information regarding Harvard’s tax exempt status may be found on Strategic Procurements Tax Exemption Guidance page.

End of Year Updates Regarding 1042-S Distribution and Consent in GLACIER

December 13, 2018

Harvard has transitioned to electronic 1042-S form distribution. This is contingent upon the foreign individual:

  1. First having given consent to Harvard, 
  2. Having already completed GLACIER before the end of the calendar year, and 3) having a valid email address entered on their GLACIER record. It is advisable that foreign individuals review their GLACIER records for any possible updating required https://www.online-tax.net/.

If they have forgotten their User ID and/or Password, they can select “Forgot Login?” on the login screen.

Any changes to consent or email addresses in GLACIER must be made by December 28 if it is expected to impact 2018 1042-S reporting.

... Read more about End of Year Updates Regarding 1042-S Distribution and Consent in GLACIER