Laws@SRI-AI.ARPA (03/22/84)
From: Ken Laws <Laws@SRI-AI.ARPA>
Bob Boyer of UTexas-20 posted a bboard message about IRS policy on
tax-free student fellowships. This isn't AIList material, but it
will be of interest to many students on and off the Arpanet, so I
am making it available for those who want to post it at their sites.
I have copied the message to file <AIList>IRS.TXT on SRI-AI, and will
send copies to interested people who can't FTP the file. I have
also included related messages from others who read the original.
The content is roughly this: if you claim that your current academic
support is tax-free (or if the IRS makes that claim), and if such income
is at least 50% of your support, you will probably not be able to income
average during the next four years. This is very likely to cost you more
than the tax you save on your current fellowship or other support.
-- Ken Laws