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as far as taxes go, for all you students i talked to my uncle who is a lawyer and he said the first 8k is pretty much 0-3% tax. 100K would be quite a high tax bracket. he said getting caught would be like finding a needle in a haystack. however if you never report it/dont file taxes they can come back at any time in your life and still nail you for it.
if you do file, they have 3 years to audit you, and after that, you are clean.
disclaimer-im not a lawyer, and i was just talking informally to my relative, talk to your own cpa/lawyer for your situation.
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