Who has Tax Liabilities?
In essence, anyone who receives funds from any entity may have tax implications with regards to those funds received. In the case of students receiving scholarship or fellowship awards, the following information is being provided to help you understand the possible implications. U.S. Citizens and Resident Aliens : United States citizens or Resident Aliens have an obligation to the U.S. government and the IRS to report any scholarships or fellowships you received. The amount of tax liability is based in part upon the amount of qualified tuition and fees you incurred and your income level for that tax year. Georgia Tech is not responsible for filing any information to the IRS concerning these amounts. This responsibility remains with the taxpayer/student. International Students: Georgia Tech is required to withhold 14% tax and file the corresponding IRS 1042-S form for all International students receiving scholarships or fellowships for any amounts greater than qualified tuition and fees
