Complying with IRS Form 1098-T reporting requirements has long been a controversial and difficult process for many institutions. This webcast will review the importance of information reporting, recommendations for completing the form, best practices for collecting taxpayer identification numbers, and guidance on responding to IRS penalty notices.
Experts will review the definitions and examples of qualified tuition and related expenses, as well as scholarships and grants. Additionally, they will address reporting exemptions, payments across multiple tax years, and best practices concerning communications with students and families.
The information covered will be helpful to beginners and serve as a refresher to campus staff with experience preparing 1098-T forms.