Reminder to UT Employees Working on Graduate Degrees
Are you using the University’s fee waiver benefit to earn a graduate degree? If so, a new fiscal policy that went into effect July 1, 2013, requires you to complete a form to avoid being taxed on a portion of the tuition the university has waived.
Employees are able to receive up to $5,250 in non-taxable graduate tuition waivers in a calendar year. Tuition waivers exceeding that amount is taxable, but Fiscal Policy FI0900 allows employees to apply for a tax exemption for hours exceeding this amount as long as their program of study relates to their current job. Review the policy here.
To learn more about the policy and to download the associated form, visit the university’s fiscal policies website. Downloadable forms are located at the bottom of the page. The UT System Payroll Office is available to answer questions at 865-974-5251.