Get IRS Instruction 1098-E & 1098-T 2021-2022
Pdf. must file electronically if you are required to file 250 or more returns. See part F in the 2018 General Instructions for Certain Information Returns for more information. Penalties. For Forms 1098-E and 1098-T penalties may be imposed for failure to file or failure to furnish correct forms. Also if you are an insurer engaged in a trade or business of making refunds or reimbursements of qualified tuition and related expenses you are required to file Form 1098-T. See the instructions for box 10 later. Truncating borrower s TIN on payee statements. Pursuant to Treasury Regulations section 301. Department of the Treasury Internal Revenue Service Instructions for Forms 1098-E and 1098-T Student Loan Interest Statement and Tuition Statement Section references are to the Internal Revenue Code unless otherwise noted. Future Developments For the latest information about developments related to Forms 1098-E and 1098-T and their instructions such as legislation enacted after they were published go to IRS.gov/ Form1098E or IRS.gov/Form1098T. For Forms 1098-E and 1098-T penalties may be imposed for failure to file or failure to furnish correct forms. However under certain circumstances the penalties may be waived. See part O in the 2018 General Instructions for Specific Instructions for Form 1098-E File Form 1098-E Student Loan Interest Statement if you receive student loan interest of 600 or more from an individual during the year in the course of your trade or business. What s New On-line pdf fillable Copies B and C. To ease statement furnishing requirements Copies B and C of Forms 1098-E and 1098-T have been made fillable on-line in a pdf format available at IRS.gov/Form1098E or IRS.gov/Form1098T. You can complete these copies on-line for furnishing statements to recipients and for retaining in your own files. Reminders General instructions. In addition to these specific instructions you should also use the 2018 General instructions include information about the following topics. Truncating student s TIN on payee statements. Pursuant to Treasury Regulations section 301. 6109-4 all filers of Form 1098-T may truncate a student s TIN social security number SSN individual taxpayer identification number ITIN adoption taxpayer identification number ATIN or employer identification number EIN on payee statements. Truncation is not allowed on any documents the filer files with the IRS. A filer s TIN may not be truncated on any form. See part J in the 2018 General Instructions for Certain Information Returns. For more information about the requirements to furnish a statement to each student see part M in the 2018 General Instructions for Certain Information Returns. Exceptions. You do not have to file Form 1098-T or furnish a statement for Courses for which no academic credit is offered even if the student is otherwise enrolled in a degree program Nonresident alien students unless requested by the student Students whose qualified tuition and related expenses are entirely waived or paid entirely with scholarships and Students for whom you do not maintain a separate financial account and whose qualified tuition and related expenses are covered by a formal billing arrangement between an institution and the student s employer or a governmental entity such as the Department of Veterans Affairs or the Department of Defense.
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