The University must comply with applicable federal, state, and local tax regulations.

1. Responsibilities:
   The University Tax Manager has institutional responsibility for compliance with tax regulations. Responsibility for specific operational tax processing and records retention has been delegated to certain University units as noted below:

   University Unit Responsible	Tax Processing and Records Retention
   Payroll Services	Form W-4 and VA-4: Payroll Tax Withholding for Employees Form W-2: Wage and Tax Statements for Employees Form Reporting
   University Human Resources	Taxable Fringe Benefits for Employees Reporting PCORI Fee Data I-9 Compliance
   Procurement Services	Form 1099-MISC and 1099_NED: Reporting various types of income other than wages, salaries, and tips
   Student Financial Services	Form 1098-T: Education Tax Credits Student Loan Interest Reporting
   External Relations/Gift Planning	Donor Acknowledgments
   Financial Operations and Tax	Unrelated Business Income Federal and State Endowment Returns Tax-Exempt Bond Compliance, Private Use Federal Tax Credit Filings Commonwealth of Virginia and Foreign State Sales Tax Filing Form 1042-S: Foreign National Tax Withholding and Reporting
   Treasury Management	Bond Compliance

2. Providing Tax Advice:
   The University does not provide personal tax advice to its employees, students, or donors. Tax information, such as tax publications and forms, and/or other references on websites, may be provided for general information about various tax topics. However, it is not meant to represent tax advice and it should not be assumed to be error free. If in doubt, individuals should contact the appropriate tax authority (e.g., Internal Revenue Service, Virginia Department of Taxation, Charlottesville City Treasurer, or Albemarle County Finance Department), a tax accountant, or an income tax service.

3. Compliance with Policy:
   Failure to comply with the requirements of this policy may result in disciplinary action up to and including termination in accordance with relevant University policies.

   Direct questions about this policy to Financial Operations & Tax.