IRS Form 1098T
Please visit the IRS website for further information on the Hope Scholarship tax credit and Lifetime Learning tax credit. What is the Taxpayer Relief Act of 1997? The Taxpayer Relief Act of 1997 is a set of federal government regulations modifying the current tax code. Among the changes are two new tax credits: The Hope Scholarship tax credit and the Lifetime Learning tax credit. Who will receive the IRS Form 1098T? For tax reporting year 2008, all domestic Boston University students who were officially registered and taking courses for academic credit in at least one of the following semesters will be sent the Form 1098T, if the qualified tuition and fee charges for the semester were posted to the student’s account during 2008:
When will IRS Form 1098T be mailed and what address will it be mailed to? IRS Form 1098T will be mailed no later than February 1st following the tax year to be reported, to the student's home address. The form will be mailed to the student's local address if Boston University does not have the student's home address. Who will mail the IRS Form 1098T and answer students' questions? Boston University has contracted with Vangent Inc. to compile and mail the IRS Form 1098T to our students. However, any questions regarding the form should be referred to Boston University Student Accounting Services. Who will answer tax related questions? Students should refer all tax-related questions to their own tax counsel. Students may get additional information from IRS Publication 970, Tax Benefits for Higher Education or visit the Internal Revenue Service web site http://www.irs.ustreas.gov/individuals/index.html. How can a student get a duplicate 1098T? Students can call Student Accounting Services at (617)353-2264 to request a duplicate 1098T. Who will send the various tax-related forms to Boston University students?
How does a student obtain a corrected 1098T? If the 1098T does not include the student's Social Security Number (SSN) /Taxpayer ID Number (TIN), please download form W9S, complete and mail it to: Student Accounting Services, 881 Commonwealth Avenue, Boston, MA 02215. The student's SSN/TIN will be updated and a corrected form 1098T will be mailed to the student and filed with the IRS. If there is a question about an amount in any of the boxes on the front of the form, please contact Student Accounting Services at (617) 353-2264, or e-mail your question to studenta@bu.edu. |
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