Final 1098-T Reporting
Requirements Are Here...
Is Your Institution
In December 2002, the Internal Revenue Service (IRS) issued
final regulatory information on 1098-T reporting. These final
rules and regulations contain important information that will
impact the Tax Year 2003 (TY2003) reporting process (deadline
for reporting to students is January 31, 2004). ACS' Tax
Credit Reporting Service (TCRS) will work with you to provide
the information needed to ensure that your school's 1098 -T
reporting is in compliance with IRS regulations.
We will work with you to define options for managing your
1098-T reporting effort , and help your staff to develop a
comprehensive and easy process to extract both demographic and
financial data to submit for inclusion on the 1098-T form. Our
TCRS system also provides several options for generating
demographic and financial data and gives you control over the
method in which the financial data is reported.
We maintain secure web sites for use by school staff to
administer student information , create reports on various
categories of data, and view and print 1098-T forms for
students. TCRS also provides a secure web site for students
(www .1098-T.com )
Through www.1098-T.com students can view their forms, gain
valuable information about education tax credits and
deductions, and receive instructions on what to do with the
Financial reporting requirements are here. Make sure your
school is ready. For more information visit http://www.tcrs.com/ or contact us at 877.829.1098.