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Don’t Tax the Ed Award!

March 11, 2009

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4 Comments leave one →
  1. March 12, 2009 8:42 am

    I still haven’t understood why the ed award is taxed. I mean, don’t I pay taxes on everything else?

    Can someone please provide a top 10 list of “why the Segal Education Award is taxed?” Please and thank you.

  2. March 12, 2009 8:47 am

    There can’t be a top ten list if there are no reasons… we need to do away with it!

  3. Megan permalink
    March 23, 2009 11:22 am

    Unfortunately though, the law has not yet been changed.

    Does anyone know how to file in the year the ed award is used? Will I get something like a W2 for the “income.” The AmeriCorps website is oh so breif in describing how it’s done. I beleive all they say is, “Yes, you have to pay federal tax on the award for the year it’s used.”

  4. March 23, 2009 12:52 pm

    Megan, yes, you’ll receive something in the mail that looks like a W2 that you can use for tax purposes… it will come from the Corporation for National and Community Service. Then I believe you have to report it as ‘other income’.

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