TAX COMPLIANCE AND REPORTING - Vision, Mission, Values, and Services

Sep 19, 2026

TAMU TAX COMPLIANCE AND REPORTING outlines an approach to individual tax compliance and timely federal, state/local, and international tax payments and filings. It defines a vision focused on confident service delivery, a mission to provide efficient, professional tax services, and core values such as integrity, accountability, professionalism, teamwork, selfless service, and respect. It details federal returns and forms, international payment classifications (prizes/awards, scholarships, fellowships), withholding rules, and key contact channels.

LanguageEnglish

CategoryLetters

FormatPDF

Pages6

Reading Time2 min

AccessFree to download

TAX COMPLIANCE AND REPORTING

Our Vision

Our Mission

Our Values

Our Services

International Payments: Prize, Scholarship, Fellowship

# TAX COMPLIANCE AND REPORTING ## Our Vision To be a leader in Individual Tax Compliance &Reporting and to have customers who are confident in our services. ## Our Mission Our Mission is to provide efficient,effective,professional,and quality tax services for TAMU and TAMUS Members of payments made to individuals,whether they are employees,vendors,or students by ensuring compliance with applicable tax laws and timely payments and filings. ## Our Values We discharge our duties truthfully,honestly,and transparently (Integrity) We accept responsibility for our actions and outcomes (Accountable) We strive for improving our performance and competence with a focus on achieving excellence (Professionalism) We work together,with our team member and/or another department,to achieve common goals (Teamwork) We willingly help others without expectation of rewara (Selfless Service) We treat others with dignity and value “..your ability to show respect and be respectful to the person in front of you,is a direct reflection on your character,not theirs”-Arthie Moore (Respect) ## Our Services Federal Tax compliance and reporting for: ·941 Quarterly Tax Returns ·W-2-Wage and Tax Statement · 1098T-Tuition Statement · 1099-Misc-Miscellaneous Income · 1099-NEC-Non-employee Compensation · Graduate Tuition Waiver-Review and assess araduate waivers for federal tax implications International Tax · Provide guidance on nonresident alien tax issue ·Glacier Guidance ·1042-S-Foreign Person's U.S.Source Income Subject to Withholding State/Local Income Tax compliance and reporting Tax consultation to TAMUS member schools (not individuals) TRS contribution payment and reporting Unrelated Business Income Tax financial audits Worker Classification determination (Employee vs.Independent Contractor Please visit our website for more information at https://uas.tamu.edu/tax/index.html TAMU TAX COMPLIANCE &REPORTING INTERNATIONAL PAYMENTS Prize-Recognition based on Competition or other criteria. Example:A competition is held and the prizes for 15t,2nd,and 3 places are awarded to students.Humanparticipant payments are also classified as an award. Prizes or awards issued to an international student will be subject to federal income tax withholding at arate of 30%.The amount of the prize or award and tax withholding will be reported on a Form 1042-S"Foreign Person's U.S.Source Income Subject to Withholding. Scholarship-Financial support based on academic achievement or other criteria that may includefinancial need.The donor of the scholarship sets the criteria for recipient selection.The grantorspecifically intends money be spent to defray the cost of study,training,or research.Proceeds of thescholarship offset the cost of the student's education or an upcoming current academic year,dependingon when the student received the funds. Example:Departments,schools,or the Division of Financial Aid select recipients based on the criteria ofthe scholarship agreement(major,grade level,grade point average,financial need,or a combination ofother restrictive criteria).Credit for the scholarship is reflected on the student's account. Portions of the scholarship used to pay for qualified expenses,such as tuition,books,and fees,are nottaxable income.The amount exceeding qualified expenses is taxable income for both US and international students.There may be a 14%tax withholding for international students,depending on whatcountry they are from. Fellowships-Financial support to reduce the cost of a graduate student's education.Some fellowshipsinclude a tuition waiver or a payment to the University in lieu of tuition.Fellowships may include stipendsto cover living expenses. Students receive payments to assist them in pursuing a course of study or research.Fellowships aretaxable income to the recipient.Exclusions to the taxable income are amounts used to pay for tuition/feesand books and s

FAQs

What is the purpose of TAMU Tax Compliance and Reporting?

It provides efficient, professional tax services for TAMU and TAMUS members’ payments to individuals, ensuring compliance with applicable tax laws and timely payments and filings.

Which federal tax returns and statements are covered?

It includes 941 quarterly returns and common information forms such as W-2 wage and tax statement, 1098T tuition statement, and 1099-Misc/1099-NEC, plus a review of Graduate Tuition Waivers for federal tax implications.

How are international prize and award payments generally taxed?

Prize/award payments to an international student are subject to federal income tax withholding at a rate of 30%, reported on Form 1042-S.

Sep 19, 2026

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