Certain student information are provided to the IRS through the 1098-T form, in compliance with the Taxpayer Relief Act of 1997. Data include the name of the student, address, Taxpayer Identification Number, enrollment and educational status.
The 1098-T form must be filed for every enrolled student and for whom a reportable transaction is done. Furthermore, insurers must be able to file a separate 1098-T form for each individual with refunds of qualified tuition and other associated expenses are made.
Listed below are the types of organizations that are not required to file 1098-T forms:
- Courses which do not offer academic credit
- Nonresident alien students (Except when requested by student)
- Students whose qualified tuition and other associated expenses are exclusively by scholarships or otherwise entirely waived
- Students whose qualified tuition and associated expenses are paid for through formal billing arrangement with the employer of the student or an individual from the government, including the Department of Veterans Affairs or the Department of Defense