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Tax Reporting and Withholding of Scholarships by Scholarship Providers

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Title:  Tax Reporting and Withholding of Scholarships by Scholarship Providers

Authors: By Karen E. Leaffer, Esq. and Becky Farr Seidel, Esq., Leaffer Law Group LLC

Cost: NSPA members - free, nonmembers - $35.

Description: Scholarship providers often receive conflicting information about how they are required to report scholarship payments to the IRS and the students. The confusion comes, in part, because the provider’s obligation will depend on the nature of the payment (whether the scholarship is taxable or non-taxable, and if taxable the reason why), the status of the scholarship recipient (U.S. student or foreign student, and if foreign the student’s nation of residency) and the nature of the provider (university, other public charity or private foundation). The aim of this legal brief is to help guide providers through these multi-leveled factors, and highlight the different reporting (and withholding obligations) that could apply to their organizations.

Next Steps: When you complete your purchase, you will receive a link to the PDF.

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