Norman,
    Thanks for information and I appreciate that.  I just had a chat
with my friend who is currently pursuing a MBA and in his first year
about taxes in relation to stipends, awards, so on,  he said that if
for awards, less than 12k, we would not required to file for income
tax.   He is not totally sure so it would be to check on IRS about
that.

Ashley

On Wed, Mar 14, 2012 at 10:20 PM, Norman Paul Stromdahl
<[log in to unmask]> wrote:
> Income is income, all of it is taxable no matter how it it titled/labeled;
> expense allowance, stipend, housing provided, honorarium, award etc.  If you
> are given something of value for your work/expertise or win the lottery it
> is income., Salary or hourly pay will typically have the employer part of
> social security and medicare taken out (deducted) from the gross pay,
> however, the income taxe withheld is YOUR money, not the employer's.
>
> Worker's compensation and unemployment insurance is unique to each state.
> However, employer attempts to limit their responsibility to pay into these
> state insurance accounts by qualifying "employees" as interns or independent
> contractors are always questionable. You should research these conditions
> specific to the state you may be working in.
>
> Regards, Paul
>
> On Wed, Mar 14, 2012 at 5:32 PM, Ashley Watson <[log in to unmask]> wrote:
>>
>> Hello,
>>     I have the similar question about those: My question is:  I
>> learned that stipend is taxable but wonder if award is?  Some
>> internships offer stipend, award, or hourly wage.
>>
>> Ashley
>>
>> On Wed, Mar 14, 2012 at 5:03 PM, Kathy DiPhilippo
>> <[log in to unmask]> wrote:
>> > Can someone please explain the difference between offering wages vs
>> > stipends
>> > to interns?  Do paid interns need to be covered by workmans comp
>> > insurance?
>> >
>> > Kathryn DiPhilippo, director
>> > South Portland Historical Society
>> > 55 Bug Light Park
>> > South Portland, ME  04106
>> > (207) 767-7299
>> > www.sphistory.org
>> >
>> >
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> Norman Paul Stromdahl
> Curator, Chief of Exhibits
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