Tax Help

Student Tax Questions

Aren't Graduate Assistants exempt from tax?
Graduate Students are exempt from social security tax provided they are at least part-time students (registered for 6 hours during the academic year). However, GAs are not exempt from federal and state income tax. When you file your tax return with the IRS, you may not owe any income tax depending on how much you earn. However, we do report your wages to the IRS as taxable income.

Will I owe taxes or have to file a return at the end of the year?
Depending on how much you earn, you may not be required to file an income tax return or pay any federal income tax. View the IRS FAQ Opens in a new browser window for more information.

Why isn't any income tax being taken out of my check? What can I do to change this so I won't owe a lot of tax when I file my return?
Most students do not earn enough in one check to have our payroll system calculate any taxes. For example, if you earn $100 per paycheck, our system annualizes this amount and determines that you will only earn $2,400 this year ($100 X 24 pay periods). Therefore, we do not withhold any tax. If you expect to earn money somewhere other than Regent, you will need to take this into account when filing your W-4 (Federal Income Tax Withholding Certificate). If you wish, we can withhold a fixed amount of tax or an additional amount of tax each check. Indicate on Line 6 of the W-4 the amount of additional tax you would like us to withhold on each paycheck. This will guarantee that at least this amount will be withheld.

I'm a full-time student and there is no FICA (social security) tax being taken out of my check. Will I owe this tax at the end of the year?
FICA (social security) tax is separate and distinct from Federal income tax. FICA does not contribute to your Federal tax liability. If you are at least a part-time student (registered for at least 6 hours), FICA will not be taken out of your check and you will not have to pay it back.

I am a resident of another state. Do I have to file a return in Virginia?
See the following Residency Status Page.

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Other Tax Questions

How many dependents/withholdings should I claim on my federal tax form (W-4)?
Follow the worksheet on the W-4 (Federal Tax Withholding Certificate) or see the following Withholding .

I owed a lot of tax last year. What can I do to have more withheld?
On the W-4, indicate on line 6 the additional amount of tax you would like to be withheld from each check. You may do the same on line 2 of the Virginia withholding certificate.

I just turned in a new tax form claiming a different number of withholdings. When will it take effect?
Any changes to tax withholdings, direct deposit info, etc. are due to the Business Office by 5 p.m. the next business day after payday in order to be effective the following payday.

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