Guide to the Folger Institute Payment Process

This page is currently a work in progress. Please check back later once we have updated it with the most accurate information.

If you have been awarded money for participation in a Folger Institute program, please consult this page for details about required paperwork, how to receive your award, the tax implications of the award, etc. Please note, if you are an employee or independent contractor for the Library, this information will not apply to you. Please get in touch with Human Resources, the Business Office, and/or your Folger point of contact for more information about your payment. If you are unsure if you are an employee or independent contractor, consult the IRS definitions below.

IRS Definitions:

Employee: Under common-law rules, anyone who performs services for the business is the business’s employee if the business can control what will be done and how it will be done. This is so even when the business gives the employee freedom of action. What matters is that the business has the right to control the details of how the services are performed.

Independent Contractor: The general rule is that an individual is an independent contractor if the payer has the right to control or direct only the result of the work and not what will be done and how it will be done. The earnings of a person who is working as an independent contractor are subject to Self-Employment Tax.

If you meet either of these definitions, this guide is not for you.