Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.1 (Tek) 9/26/83; site hammer.UUCP Path: utzoo!watmath!clyde!burl!ulysses!mhuxl!houxm!hogpc!houti!ariel!vax135!cornell!uw-beaver!tektronix!orca!hammer!hyder 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}