About Form 1098-T

The IRS requires us to notify students that failure to provide an SSN or ITIN could result in a financial penalty by the IRS to the student. Further, the student may not be allowed to claim the American Opportunity Tax Credit if an SSN or ITIN is not provided by the annual tax filing deadline. For more details, please see section 6109 of the Internal Revenue Code.

Go to the Registration Office in Building B, Room B105. Or, complete the W-9S form and mail it to:

• Elgin Community College
  Registration Office
  Building B, Room B105
  
  1700 Spartan Dr.
  Elgin IL, 60123

If you do not have an ITIN, apply for one immediately. You can do this at your local Social Security Administration Office or obtain any of the forms noted below online.

• To apply for an SSN, get Form SS-5, Application for a Social Security Card.
• To apply for an ITIN, use Form W-7, Application for IRS Individual Taxpayer Identification Number.

For tax forms, instructions, or publications in Braille or large print, call the tax form telephone number at 800-829-3676.

If you are asked to complete the W-9S form but do not yet have your Taxpayer Identification Number (ITIN), apply for an ITIN using the Form W-7, write "Applied For" in the space for the ITIN, sign and date the form, and give it to the requester. Note: Entering "Applied For" means you have already applied for an ITIN or intend to apply soon.

Colleges provide a statement of tuition and expenses (for yourself or a dependent) using Form 1098-T. This informational form that lets students know they may qualify for the American Opportunity Tax Credit. The form is required by the IRS to report payments for qualified educational expenses. Qualified educational expenses include courses for which you receive academic credit. It should not be considered as tax opinion or advice. Please consult with your tax advisor to find out what additional information you need to qualify for the tax credit. Visit irs.gov/es for more details.

Generally, students receive a Form 1098-T Tuition Statement by January 31. Keep it with your tax documents and consult your tax preparer to determine if you can use the American Opportunity Tax Credit. To claim AOTC, you must complete Form 8863 and attach the completed form to your Form 1040. To claim the full credit, your modified adjusted gross income (MAGI) must be $80,000 or less ($160,000 or less for married filing jointly).

You will not have to renew your consent if you have previously consented to the electronic format and have not revoked consent. Your 1098T will be available in electronic format only. If you want a paper copy, you must access the Tax Information screen in the ECC Self-Service and click Change Preferences. This should be done BEFORE December 31.

Yes. Log in to accessECC the portal, choose 'Self-Service', and select the 'Tax Information' link. You can then change your preference to electronic delivery of your 1098-T. This lets you print the current year and the prior year's 1098-Ts.

Note: Remember, by doing this, you can receive your 1098-T online for future years.

Yes. You can by following the instructions provided in accessECC portal's 'Self-Service' and consent to electronic format. However, you will be consenting to electronic delivery for future years and will no longer receive your 1098-T by mail.

You may not have had payments for the tax year. In other words, ECC reports the payments for qualified educational expenses on your account from January 1 to December 31 of the tax reporting year. It can get confusing due to the timing of the registration and term cycles.

If you have any questions, call Student Accounts at 847-214-7380 and someone can walk you through the calculation.

Most likely, you signed up for your spring term classes and began making payments before December 31 of the prior tax reporting year. Therefore, the charges would have been reported on last year's 1098-T.

All payments, including financial aid, scholarships or sponsorships will be included in Box 1 up to the total of Qualified Tuition & Related Expenses. Any scholarships, grants, third party sponsorships, or other gift aid will be shown in Box 5 on the 1098-T.

ECC began providing 1098-Ts online, starting with the 2008 tax reporting year. You can access this independently if you need a 1098-T for 2008 or later. If you need one before that year, contact us at 847-214-7380. We can provide you with the information ECC reported to the IRS but may be unable to provide the actual form. The IRS does not require you to submit the form with your tax return.

If your question is tax-related, contact the IRS. If your question concerns the information provided on your 1098-T, contact Student Accounts at 847-214-7380.

Note: ECC refrains from offering tax advice regarding the 1098-T to students.