In 1997, the Taxpayer Relief Act established two education tax credits and a deduction for student loan interest. These credits are explained in detail in Publication 970 from the IRS. Eligible educational institutions are subject to IRS reporting requirements and must report each student enrolled for whom a reportable transaction was made during the 2016 calendar year. North Shore Community College (NSCC) reports qualified tuition and related expenses. NSCC reports qualified tuition and related expenses (Box 2).
When filing a federal tax return, you (the student), or a person who can claim you as a dependent, may be eligible for an education tax credit for qualified tuition, fees, and related expenses that were paid for out of pocket during the 2016 calendar year. The 1098-T form provides information that will assist in determining eligibility for a tax credit when preparing a federal tax return.
Receiving the 1098-T form does not mean you necessarily qualify for a tax credit. If you have questions about how to calculate your education tax credit, you should consult your tax professional or refer to the IRS website. NSCC cannot offer advice on tax matters.
NSCC contracted Hartland ECSI to produce the 1098-T form electronically and by mail. If you provided consent to receive your 1098-T electronically, you will be able to access the form on-line. Hartland ECSI will email the students as soon as their 1098-T form is available. Students who did not provide the electronic consent will receive the 1098-T form in the mail. The form will be mailed by January 31, 2017. You may also access the information in Campus Pipeline. NSCC will post a Pipeline announcement when the 1098-T information is available.
More information regarding the 1098-T statement or how to access an electronic copy can be found on the Hartland ECSI website.
Log into your NSCC Pipeline account to access the "Tax Notification" page. See question 10 below for instructions. The first sentence located in the paragraph just above your 1098-T representation will indicate whether the form was sent to you.
The IRS mandates that 1098-T tax forms be mailed to your address that we have on file. If you have not previously provided your address or if it is no longer valid, you must update your address via your Campus Pipeline account. Please note that invalid addresses will cause delay in delivering the information to you. A representation of your 1098-T form is also available on your NSCC Pipeline account (see question 10 for instructions). The address where your 1098-T form was sent is included on the form.
The quickest way to obtain your 1098-T information is via your NSCC Pipeline account and print the page containing your 1098-T representation (see question 10 for instructions). Note: the form shown on your NSCC Pipeline account is not an official copy of your 1098-T form. It is only a representation of your original form. You are responsible for providing the 1098-T form information to your Tax Preparer.
If we do not have your social security number on file, it will not be included on your 1098-T tax form. When we do not have your social security number on file, we are required by the IRS to attempt to obtain it from you. A W-9S form, the official IRS form used for requesting your social security number, was sent to your NSCC email account on several occasions since November 2016. If you did not respond by January 05, 2017, your 1098-T form will not contain a social security number.
Failure to furnish correct SSN or ITIN
Per IRS instruction on page two of the W-9S form located under the heading "Penalties", if you fail to furnish your correct SSN or ITIN to the requester you are subject to a penalty of $50.00 unless your failure is due to reasonable cause and not to willful neglect.
We are not required to report to the IRS or to furnish a 1098-T form to you, if:
Below is a brief explanation of the form contents:
Box 1: Since NSCC reports qualified tuition and related expenses, this box is blank.
Box 2: Amounts billed for qualified tuition and fees during the 2016 calendar year. If you registered for spring 2017 classes during the 2016 calendar year, this box will include qualified tuition and fees for those classes. Consult your tax professional to determine how to handle qualified charges that occurred in one tax year that you’ve paid in a different tax year.
Box 3: This box is only used if NSCC changed our reporting method for 2016. We have not.
Box 4: This box will show an adjusted amount if you dropped classes or your schedule was adjusted in 2016 resulting in a reduction in qualified tuition and related expenses affecting amounts reported in a previous reporting year after 2002. This amount is reported as a positive number per IRS requirements. However, it is actually a decrease to the amount that was reported on a prior year 1098-T.
Box 5: This box contains the total amount of any scholarships, grants, third party payments, or tuition and/or fee waivers you were eligible for that were paid toward your costs of attendance. If you received additional awards in 2016 for previous reporting periods, those amounts will be included in this box.
Box 6: If there were any grant and/or scholarship reductions on your account in 2016 affecting amounts reported in a prior reporting year after 2002, those adjustments will show in this box. This amount is reported as a positive number per IRS requirements. However, it is actually a decrease to the amount that was reported on a prior year 1098-T.
Box 7: If any amounts billed for qualified tuition and related expenses reported in box 2 relate to the academic period that begins in January 2017 through March of 2017, this box will be checked.
Box 8: If you were at least a half-time student (6 credits) during any academic period that began in 2016, this box will be checked.
Box 9 and 10: These boxes do not apply to NSCC or NSCC current/former students.
The detailed breakdown is available online. To view the information, log into your NSCC Pipeline account (see question 10 for instructions). Refer to the category headings labeled: Detail of Amounts Billed and/or Detail of Scholarships or Grant just below the 1098-T representation.
It is the responsibility of the student or the person claiming a tax credit to retain financial records needed for tax preparation. It is not up to the school to provide payment records. You may also follow the steps below to access your Account Detail by Term.
If you have additional questions about your 1098-T tax form, call Student Financial Services Office at: 978-762-4189. Or, you can contact us by email at: email@example.com.
Yes. We are required to submit an electronic version of your 1098-T information to the IRS by March 31, 2017.
You should consult your tax professional for assistance with tax return preparation and claiming an educational tax credit/benefit.
IRS Tax preparation information resources and assistance: