Important W-2 Information for Caremark Employees

Address Verification

    To ensure that your 2008 Form W-2 is sent to the correct address, please verify that your home address on Employee Self Service is accurate and valid for U.S. Postal Service purposes. Pay special attention to apartment and P.O. Box numbers. If you need to change your address, please do so in Employee Self Service by Friday, December 26, 2008. If you are moving, remember to provide a forwarding address to the post office.

Important 2008 Tax Information for Caremark Employees

Federal Income Taxes - 2009

Tax-Exempt Employees

    If you claimed to be “Exempt” from federal income tax withholding during 2008, and you determine that you are eligible to renew your claim for 2009, you must complete a new Form W-4 "Employee Withholding Allowance Certificate" found in Employee Self Service by February 15, 2009. W-4 Forms claiming “Exempt” must be printed, completed manually, and submitted to Northbrook Payroll Services for processing.

    If you determine you are no longer exempt from federal income tax withholding, a new W-4 must be completed on Employee Self Service by February 15, 2009.

    If a new Form W-4 is not received, Caremark is required, by law, to withhold federal income taxes from your wages at the maximum tax table rate of single, with a zero withholding allowance. Caremark will not refund federal withholding taxes due to either a late or an incomplete W-4 form.

Advanced Earned Income Credit

    Form W-5 “Earned Income Credit Advance Payment Certificate” is only valid for one calendar year and will expire on December 31, 2008. If you will be eligible for the advance payment of earned income credit in 2008, you must file a Form W-5 for 2009. Please submit your 2009 Form W-5 to Northbrook Payroll Services by December 21, 2008, to avoid any interruption in benefits.

Federal Form W-4

    If your federal tax filing status or withholding allowances has changed since the last filing of your Form W-4, you should file a new Form W-4 "Employee Withholding Allowance Certificate." This can be done in Employee Self Service. If you do not make changes to your Form W-4, the current form on file will remain in effect.

State Income Taxes - 2009

Tax-Exempt Employees

    If you claimed an "exemption" from state income tax withholding during 2008 and you determine that you are eligible to renew your claim for 2008, you must follow your specific state’s filing requirements.

      • NJ requires a new state exemption form by December 31, 2008.

      • SC requires a new Federal Form W-4 by December 31, 2008. Please indicate on the federal form “For South Carolina Purposes.”

      • CA, GA, IA and MD require a new state exemption form by February 15, 2009.

      • CO, ID, KS, MN, NE, NM, OK, OR, RI, and UT require a new Federal Form W-4 by February 15, 2009. Please indicate on the federal form “For ‘name of state’ Purposes.”

      • NY and WI require a new state exemption form by April 30, 2009.

      • All other states do not allow “exempt” status.

    Forms are available on Employee Self Service, but must be printed, completed manually, and submitted to Northbrook Payroll Services for processing by the appropriate date. Caremark will not refund state withholding taxes due to late or incomplete state W-4 forms.

State Withholding

    If your state tax filing status or withholding allowances have changed since the last filing of your state withholding form, you should file a new state withholding form with Northbrook Payroll Services. If you do not make changes to your state withholding form, the current form on file will remain in effect. Forms are available on Employee Self Service, but must be printed, completed manually, and submitted to Northbrook Payroll Services for processing.