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Roles and Responsibilities - Taxation

Section: Taxation Number:  90.001
Title: Roles and Responsibilities - Taxation

Index

POLICY

APPENDIX

  • None.


  • POLICY

    .100  POLICY STATEMENT 

    The policy sets forth high-level Taxation roles and responsibilities for the Chancellor's Office and the Institutions.

    .110  POLICY RATIONALE

    OUS seeks to ensure that the high-level roles and responsibilities of the Chancellor's Office and the Institutions related to Taxation are documented, communicated, and clearly understood and applied.

    .120  AUTHORITY

    .130  APPROVAL AND EFFECTIVE DATE OF POLICY

    Approved by the Budget and Finance Committee of the Board on 2/15/02 as part of the Fiscal Accountability Framework Final Report.  The effective date of the policy is 3/1/02.

    .140  KNOWLEDGE OF THIS POLICY

    All Chancellor's Office and institutional personnel with taxation and related responsibilities should be knowledgeable of this policy.

    .150  DEFINITIONS

    None.

    .160  HIGH LEVEL ROLES AND RESPONSIBILITIES

    A.  CHANCELLOR'S OFFICE AND INSTITUTION 

    Process CO Institutions*
    1099
    Classifies and collects data   x
    Verifies vendor data (name, tax ID number)   x
    Prepares & submits IRS electronic file x x
    Receives errors x  
    Resolves errors   x
    Responds to and negotiates penalties and fines with IRS x  
    1042s Non-Resident Alien (Accounts Payable)
    Classifies and collects data   x
    Prepares and submits IRS electronic file x x**
    Submits summary to IRS x  
    Calculates withholdings x x**
    IRS remittance x  
    Receives errors x x
    Resolves errors x x
    Payroll Taxes
    Classifies and collects data   x
    Submits quarterly filings and tax remittance x  
    Prepares electronic file for IRS   x
    Sends files to CO   x
    Merges files and submits to IRS x  
    Receives errors x  
    Resolves errors x  
    Responds to and negotiates penalties and fines with IRS x  
    Unrelated Business Income Tax (UBIT)
    Classifies and collects data   x
    Sends data to CO   x
    Merges data and submits 990-T x  
    Calculates tax liability x  
    Files quarterly estimated tax x  
    Responds to and negotiates penalties and fines with IRS x  
    Other Taxes
    Multistate/Foreign Payroll Taxes
                      Identifies and sets up   x
                      Files x  
    Taxes to Other States
                      Identifies and takes exemption   x
    Education Tax Credits, 1098-T, E
                      Prepares and submits reports to students & IRS   x

    *   Includes the CO managing its own departmental matters
    ** UO only

    .690  CONTACT INFORMATION

    Direct questions about this policy to the following offices:

    Subject Contact
    General questions from institutional personnel Institution Office of Business Affairs
    General questions from institutional central administration and Chancellor's Office personnel Chancellor's Office, Office of General Counsel - Contract Management

    .695  HISTORY

    10/15/03 - Reformatted
    2/15/02 - Approved 

    Policy Last Updated: 10/15/03


    APPENDIX

    None.

    Appendix Last Updated:  10/15/03