Although most people don’t think about taxes until April, graduate students should consider as early as possible what will be required to properly prepare your tax documents. The way the IRS views it, students bear the tax burden: Federal Government Agencies require students to determine taxation of scholarships and fellowships when filing annual income tax returns. This workshop will answer such questions as:
- Are student scholarship or fellowship payments treated as wages for services rendered?
- If not, to what extent are payments subject to federal income taxes under the Internal Revenue Code?
- If taxable income, are payments subject to self-employment taxes under the Social Security Act?
- How can students reduce taxable income or taxes with related expenses or credits?
- What if a student has multiple state filing requirements? If income is taxable, do students have a reporting requirement if they are a foreign national student or a teacher?
Tackling Your Taxes does not include filing forms for non-resident aliens. International students should contact the International Center for tax information relevant to their status. This workshop is appropriate for domestic students.
Presenter Ed Jennings, U-M Tax Manager
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