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From: hyder@hammer.UUCP
Newsgroups: net.college,net.taxes
Subject: Re: tax status for TA's and RA's
Message-ID: <510@hammer.UUCP>
Date: Mon, 13-Feb-84 19:24:48 EST
Article-I.D.: hammer.510
Posted: Mon Feb 13 19:24:48 1984
Date-Received: Sat, 18-Feb-84 04:48:54 EST
References: <4965@umcp-cs.UUCP> <1170@cincy.UUCP>
Organization: Tektronix, Wilsonville OR
Lines: 17

One word of WARNING.  If you take the money as tax exempt while
you are a graduate student it may be impossible for you to income
average for the first few years out of graduate school.  The process
for getting the right to income average back would involve amending
returns back four years; and payment of interest and penalty.

If there is ANY way for you to do it and survive, pay the taxes as
a graduate student.  The savings in your first year with the
computer industry would allow repayment of hefty loans to stay 
alive.

In any event, if you decide to take it as exempt make sure you read
the (free) IRS publication on income averaging.  There are a couple
of other ways around it that may apply.  Like working for four years
before graduate school ( after your 21st birthday ).

	Paul Hyder {...!tektronix!tekecs!hyder}