Paid internship at a university

October 5, 2021

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Q. My¬†university is paying students who participate in an off campus internship during the school year. How should this be paid out? Through the student account or through the separate Accounts Payable system? How should this be reported? 1098-T, 1099, not reported but up to the student to report? A. (Answered by a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance for Forms W-9, W-8, W-2, 1099, 1098, 5498, 945, 1042, 1042-S, and…

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