Wednesday, November 29, 2017

More Taxes . . .




(from https://www.snopes.com/tax-plan-graduate-students/)
CLAIM
The Republican tax reform plan would increase the tax burden on graduate students by counting waived tuition as personal income.

WHAT'S TRUE
The House of Representatives' 16 November 2017 version of the Tax Cuts and Jobs Act would tax graduate tuition waivers, and has passed the House.

WHAT'S FALSE
As of 20 November 2017, the Senate version of the Tax Cuts and Jobs Act keeps the current exemption from taxation on graduate tuition waivers.

WHAT'S UNDETERMINED
Whether the final version of the tax bill, if passed, will include an end to the exemption of tuition waivers from taxation.




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