Educational Assistance Program Employees Without Their Knowledge In Massachusetts

State:
Multi-State
Control #:
US-00451BG
Format:
Word; 
Rich Text
Instant download

Description

This form offers education assistance to employees under certain circumstances. Courses must be from approved institutions of learning, such as accredited colleges, universities, and technical colleges or schools that offer certification in a field approved by employer. Also, the courses must be, in employer's opinion, directly or reasonably related to employee's present job or part of a degree program, or in line with a position that employer believes employee can reasonably achieve. If employee shall leave the employment of employer for any reason, within two years of any reimbursement, employee shall immediately repay all reimbursements back to employer.
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FAQ

The refunds are not taxable as income at the state level.

The deduction is equal to the amount by which the tuition payments, less any scholarships, grants, or financial aid received, exceed 25% of the taxpayer's Massachusetts adjusted gross income. Tuition payments for students pursuing graduate degrees are not eligible for the college tuition deduction.

The Tuition Remission benefits you, your spouse, or your dependent children receive may be subject to federal income taxes, Massachusetts state income taxes, and FICA taxes.

Scholarship that is used for tuition is not taxable, but scholarship that is used for living expenses is taxable. Expenses that are considered tuition include all tuition and fees required for enrollment, books, fees, supplies, and equipment for courses of instruction.

The Tuition Remission program provides eligible state employees, and spouses enrolled in regular state-supported courses or programs at public community colleges, state colleges or universities (except the MD program at U/Mass Medical), 100% remission of tuition.

MASSGrant & MASSGrant Plus. MASSGrant and MASSGrant Plus are financial aid grant programs for income-eligible undergraduate students who reside in Massachusetts and are enrolled in an approved degree or certificate program at one of the state's colleges or universities.

Massachusetts Tuition Waiver The Tuition Waiver Program was created in 1981 to offset tuition increases. A principle of the program is the belief that the benefits of higher education must be available to all citizens.

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Educational Assistance Program Employees Without Their Knowledge In Massachusetts