In this section
I am international student, attended RFUMS during the 2015 Calendar year and was not issued a 2015 Form 1098-T. What do I need to get the 2015 Form 1098-T prepared and issued to me?
RFUMS requires a Taxpayer Identification Number to furnish a Form 1098-T statement to you. You were not issued a Form 1098-T because a valid Taxpayer Identification Number was not on file with RFUMS Admissions and Records Office. For students, the Taxpayer Identification Number will be your Social Security Number (SSN) or, if you are not eligible to obtain a SSN, your Individual Taxpayer Number (ITIN). You will need to complete a IRS W-9S Form (http://www.irs.gov/pub/irs-pdf/fw9s.pdf) to access and download AND submit a “Request for Replacement IRS Form 1098-T” from the RFUMS Admissions and Records office. Please hand deliver-completed forms, along with a copy of your school ID and SSN/ITIN card to:
Student Financial Services
Health Sciences Building, Room L.724
Admission & Registrar’s Office
Health Sciences Building, Room. L.684
Once your Taxpayer Identification is updated the “Request for Replacement IRS Form 1098-T” is processed a 2014 Form 1098-T will be issued. Please allow 10-14 days processing time to obtain the 2014 Form 1098-T.
What is the IRS Form 1098-T (Tuitions Payment Summary)?
A college or university that received qualified tuition and related expenses on your behalf is required to file Form 1098-T with the Internal Revenue Service (IRS). The Taxpayer Relief Act of 1997 states that educational institutions, such as RFUMS, are required to file and furnish a Form 1098-T to students whom for qualified tuition and related expenses were billed in the 2014 calendar year. The information being reported to the IRS verifies your enrollment with regard to certain eligibility criteria for the Hope Tax Credit, the Lifetime Learning Tax Credit and the Higher Education Tuition and Fees Deduction. However, the reenrollment information by itself does not establish eligibility for either credit or deduction.
When and where will the Form 1098-T and Supplemental information be provided?
Students at RFUMS can visit http://www.1098-t.com/ to receive the 2014 Form 1098-T electronically. Through the use of this service provider, students can consent to receive e-mail notification when the 2014 Form 1098-T is available. Select the option to “Access My Record.” You will be prompted through a series of steps validating personal information.
Once securely logged into your personal account, a link is provided to receive forms electronically. Please read the information thoroughly and provide a current and valid e-mail address when prompted.
Upon creation of the 2014 Form 1098-T, you will receive an email notifying your that the form is available on http://www.1098-t.com/. You can print a copy for yourself, your parents, and your tax advisor.
If you signed up to get your form electronically last year, you do not need to enroll again.
Can parent(s), other persons who may claim me as a dependent, or my tax preparer receive my Form 1098-T directly instead?
As required by FERPA (Family Educational Rights & Privacy Act of 9.574), RFUMS or its personnel cannot provide this information directly to parents, other persons who may claim the student as a dependent, or tax preparers.
Why does Box 1 of my Form 1098-T have zero? Is this tax reporting method correct?
Eligible educational institutions may choose to report payments received, or amounts billed, for qualified tuition and related expenses during a given year. RFUMS has always reported tuition billed; therefore, amounts are reported in Box 2 of the Form 1098-T. Box 1 will be zero and left blank. This is to ensure a uniform tax reporting process as there are several methods for paying tuition and the University.
Was this information reported to the Internal Revenue Service?
The Form 1098-T is reported to the IRS. The supplemental form provided by RFUMS is not reported. That Form is being provided specifically to assist you in preparing your tax return (when determining your eligibility for the Hope and Lifetime Learning Tax credits).
You are not required to attach IRS Form 1098-T to your tax return. The primary purpose of the IRS Form 1098-T is to let you know that RFUMS has provided required information to the IRS to assist them in determining who may be eligible to claim the tuition and fee deduction or an education credit. There is no IRS requirement that you claim tuition and fees deduction or an education related tax credit.
Where can I find more information regarding the tax credits and deduction for qualified higher education expenses?
For more information about eligibility and filing for the credits, please visit the IRS Website (http://www.irs.gov/) or by calling the IRS at 1-800-829-1040.
I heard there are new credits under the American Opportunity Tax Credit for students. Where can I find more information regarding these tax credits?
For additional information about eligibility and filing for the tax credits, please refer to the IRS Questions and Answers web page (http://www.irs.gov/Individuals/Education-Credits:-Questions-andAnswers).
When may a Form 1098-T not be generated?
The qualifying tuition and fees you registered for in 2014 were entirely waived or paid entirely with scholarships or grants.
The qualifying tuition and fees you registered for in 2014 were covered by a formal billing arrangement with another institution or a governmental entity, such as the Department of Veterans’ Affairs or the Department of Defense.
The courses you enrolled in will not result in an academic credit.
You have a residency status that categorizes you as a nonresident or foreign student, and you did not have an Individual Tax Identification number (ITIN) in our system at the time the forms were processed.
Why do my payments not match the tuition and fees reflected in Box 2 on my Form 1098-T?
RFUMS reports “Amount Billed”, Box 2 on the Form 1098-T. RFUMS does not report “Payment Received”. RFUMS uses the “Invoice Billing Date” for eligible tuition and fees. The amount on the Form 1098-T will reflect registration activity during the Calendar year 2014. Housing cost, books and insurance are not included in the amount in Box 2.
I know I didn’t pay this much in tuition. Why are the figures on my statement so high?
The Form 1098-T reflects total tuition and fee payments, not just items paid by you individually. Therefore, the statement may include amounts paid by financial aid, tuition waivers, GI Bills paid by VA, exemptions, etc.
I made payments on my student loans. Will you provide information on the amount of interest paid?
This information will be provided by your loan servicer on Form 1098-E.
I am an international student; can I claim a credit? Do I need a Form 1098-T?
Generally non-U.S. citizen students cannot claim the U.S. tax education credits, although some students are eligible if they are deemed to be Resident Aliens for tax purposes under the substantial presence test. Please review the IRS documents or contact your individual tax consultant for further assistance regarding eligibility criteria.
I am a recipient of a GI Bill paid by the VA. How are the GI Bill tuition and stipend payment amounts reported on a Form 1098-T?
Per IRS Publication 970 (http://www.irs.gov/publications/p970/), payments you receive for education, training, or subsistence under any law administered by the Department of Veterans Affairs (VA) are tax free. However for U.S. tax reporting purposes, GI Bill recipients are issued a Form 1098-T from the University reflecting the total tuition and fee payments by multiple sources (including GI Bill paid by VA), not just items personally paid out-of-pocket. The amounts of GI Bill benefits designated for tuition and fees do not count as qualified payments against federal education tax credits. GI Bill payments consist of a tuition and subsistence portion. From the total amounts on the Form 1098-T, GI Bill recipients have to reduce the portion of their tuition paid by the amount of their GI Bill benefits that were designated for tuition. For additional assistance, please refer to IRS Publication 970, Tax Benefits for Higher Education (http://irs.gov/publications/p970/) or visit the Veteran’s Affairs official GI Bill website (http://www.gibill.va.gov)
The name on the Form 1098-T is incorrect or has been changed, how can I get it corrected?
To correct or change your address, you need to complete a Change of Address Form which can be obtained at the Office of Admissions located in the Health Service Building or make the change in WebAdvisor (https://webadvisor.rosalindfranklin.edu). Once the change has been made please contact Student Financial Services which is located in HSB, L.724, so that a new Form 1098-T can be processed.
The SSN/ITIN on the Form 1098-T is incorrect, how can I get it corrected?
The Social Security Number/ITIN and address on your Form 1098-T was obtained from information provided to RFUMS. The single most important information on the form on the form is your Social Security Number/ITIN. Without your SSN/ITIN, the university cannot properly report an information return with the IRS. Your Social Security Number/ITIN must be correct.
Should your Social Security Number be incorrectly displayed on your Form 1098-T, you need to complete only Part I of IRS W-9S Form (http://www.irs.gov/pub/irs-pdf/fw9s.pdf). Provide your name, home address and Taxpayer Identification Number. In the Taxpayer Identification Number field, enter your Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN). Do not complete Parts II or III of the W-9S as they do not apply to this specific verification request.
Please hand deliver completed forms, along with a copy of your school ID and SSN/ITIN card to:
Office of Admissions
HSB, Room L.687
Student Financial Services
HSB, Room L.724
Hours: Monday through Friday, 8:30 a.m. to 4:30 p.m.
Please note the IRS W-9S Form should not be emailed, put in a drop box, or sent via U.S. Postal Mail. This form must be hand delivered to the above two places.
I do my own taxes and don’t have a tax preparer. How do I know if I qualify for a tax credit?
The tax rules regarding eligibility for, calculation of, and limitations on the tuition and fee deduction and education credits can be complex. Whether you may take advantage of these tax credits depends upon your individual facts and circumstances, information which is known only to you and may require the assistance of a tax professional.
To calculate the tax credit, you must file IRS Form 8863 along with your federal income tax return. IRS Publication 970 explains which tuition and fee expenses and which payments qualify for the tax credits. It is your responsibility to determine if you qualify for either tax credit. The above IRS Form information is not intended to be legal or tax advice.
RFUMS is unable to provide individual income tax advice. All information and assistance that RFUMS can provide is contained in this notification. Please contact the Internal Revenue Service (IRS) at 1-800-829-1040 or your personal tax advisor for further information relating to your eligibility for and/or calculation of these credits.
I was contacted by the Internal Revenue Service (IRS) and a need a copy of a Form 1098-T prior to the calendar year 2014 (before calendar year 2014). How do I obtain a hard copy of a prior year Form 1098-T?
All students will have electronic access to their Form 1098-T via the website (http://www.1098-t.com/). Should you have any questions accessing this electronic record, you may call Student Financial Services, Student Billing at 1-847-578-3217.
What if I have more questions?
RFUMS has provided the Form 1098-T in compliance with the IRS guidelines. However, RFUMS is unable to answer any tax-related questions or provide any tax advice on this issue. All information and assistance that RFUMS can provide is contained in this notice. The content of the notice is not intended as legal or tax advice.