Taxes

This information is NOT tax advice. URISE staff are not qualified or permitted to answer questions about your individual tax liability.

A reminder about this information will be sent by URISE in January

You are required to report any taxable scholarships and grants (including stipends) to the IRS (self-reporting).

Remission

• Tax documents related to your EXITO Remission: 1098-T notification, which can be mailed to you but is also on BanWeb (student finances tab > access 1098-T tax notification)

Stipends

• Monthly stipends may be subject to federal and state taxes

• We do not take federal or state taxes out of your stipends

• Stipends generally not subject to federal income tax if you are a degree candidate, AND the money is used to pay for tuition and fees or for books and supplies that are required of all students

• Stipends that are used to pay for room and board, travel, and other personal expenses would generally be subject to federal income tax

• Tracking what you use the stipend funds for may be beneficial

• You will receive a letter totaling that calendar year's stipends in January

The IRS provides online resources to help you determine your tax liability. The following two resources below are particularly helpful for those receiving scholarships and grants (including stipends), and fellowships.

• Topic No. 421 Scholarships, Fellowship Grants, and Other Grants: https://www.irs.gov/taxtopics/tc421.html

• Interactive Tax Assistant: https://www.irs.gov/uac/do-i-include-my-scholarship-fellowship-or-education-grant-as-income-on-my-tax-return

Tax Preparation Services

In addition to the IRS topics, assistance from a tax professional can also be helpful in determining whether you owe taxes for your EXITO stipends (and other non-wage income from PSU). Free tax return preparation services are available to those who qualify. Eligibility for these services is typically determined based on income. Visit the websites listed below for more information about the programs, centers, and libraries in Oregon and Washington that provide free tax preparation assistance, and for tax filing options.

• CASH Oregon: provides free tax return preparation services to low and moderate income taxpayers. Contact CASH Oregon directly to see if they can assist you. https://cashoregon.org/; (503)-243-7765

• The Volunteer Income Tax Assistance (VITA) Program: offers free tax help to people with low and moderate incomes, persons with disabilities, and limited English speaking taxpayers. Visit the website to find a program near you. https://www.irs.gov/individuals/free-tax-return-preparation-for-you-by-volunteers

• PSU Student Legal Services: Referrals for assistance in preparing tax returns and assistance for disputes with the Internal Revenue Service only. https://www.pdx.edu/sls/