A Note About Taxes

University of Chicago-University of Puerto Rico Undergraduate Student Program

A note about taxes:  The value of the tuition waiver, room and board, health insurance, stipend, and roundtrip airfare may be required to be reported by you as taxable income on a U.S. federal income tax return and be subject to U.S. federal income taxes.  The University will work with students offered admission into the University of Chicago-University of Puerto Rico Undergraduate Student Program prior to their acceptance to ensure that the tax impacts of the program are understood.  The University is committed to working with accepted students to mitigate the impact of U.S. income taxes on their participation in the program.

University of Chicago-University of Puerto Rico Graduate Student Program

A note about taxes:  The value of the tuition, lodging, meal plan, health insurance, living stipend, local transportation and roundtrip airfare you receive under this program is required to be reported by you as taxable income on a U.S. federal income tax return and is subject to U.S. federal income taxes.  In addition, you may need to make quarterly estimated income tax payments to the IRS to avoid liability for underpayment of taxes associated with these benefits.  The University will work with students offered admission into the University of Chicago-University of Puerto Rico Graduate Student Program prior to their acceptance to ensure that the tax impacts of the program are understood.  The University is committed to working with accepted students to mitigate the impact of U.S. income taxes on their participation in the program.

University of Chicago-University of Puerto Rico Visiting Scholars Program

A note about taxes:  Because visiting scholars are not employees of the University, the University is not required to report to you or the IRS the value of the lodging, meals, health insurance, local transportation, and roundtrip airfare you receive under this program.  You may be required, however, to report that value on a U.S. federal income tax return and pay U.S. federal income tax.  In addition, you may need to make quarterly estimated income tax payments to the IRS to avoid liability for underpayment of taxes associated with these benefits.  Please consult with your tax advisor to determine any tax liability you may have as a result of the University of Chicago-University of Puerto Rico Visiting Scholars Program.

University of Chicago-University of Puerto Rico Artist-in-Residence Program

A note about taxes:  Because Artists-in-Residence are not employees of the University, the University is not required to report to you or the IRS the value of the lodging, meals, work space, and roundtrip airfare you receive under this program.  You may be required, however, to report that value on a U.S. federal income tax return, and pay income tax.  In addition, you may need to make quarterly estimated income tax payments to the IRS to avoid liability for underpayment of taxes associated with these benefits.  Please consult with your tax advisor to determine any tax liability you may have as a result of the University of Chicago-University of Puerto Rico Artist-in-Residence Program.