Employment Law Questions? Ask an Employment Lawyer.
Hello and thank you for entrusting me to assist you, I will do everything I can to answer your question. The amount of the reimbursements is still taxable income even though the amounts are presumably paid directly to your academic institution. (See Reg.§ 1.6121(a)(4) "A benefit provided on behalf of an employee is taxable to an employee even if the benefit is received by someone other than the employee...") Accordingly, the IRS will require that you pay tax on these amounts. You may, however, be eligible for an itemized deduction for eduction expenses which can offset some of the taxes you will owe.Please do not hesitate to let me know if you have any questions or concerns regarding the above and I will be more than happy to assist you further.If you do not require any further assistance, please be so kind as to provide a positive rating of my service so that I may receive credit for assisting you. Very best wishes to you and thank you so much for coming to Just Answer.
I did not mean to hit negative rating i am sorry I am having a of problem with my computer. Is there anyway I can fix the rating because you have helped me out.
Ok thank you and I have one last question. Even though I do pay the loans and I show my employer my payments and they have in contract to reimburse me a certain amount up to what I pay over three years it is still taxed?