Graduate School Tuition Waiver benefits in excess of $5,250.00 per calendar year are taxable income to the recipient.
Your tax liability will be approximately 30-35% of your taxable waiver. Your taxable waiver will be equal to the total of the three semesters minus $5,250.00.
The university is required to report the income on your W-2 and withhold all applicable income tax. To ease the income tax burden, complete the payroll deduction form and have the taxes withheld over the remaining months of the year.
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