IRS Form 1098-E (Tax Year 2024)
Student Loan Interest Statement
Software
$289.95
-
Use the software today!Transmit directly to the IRS.
- Requires a TCC code issued by the IRS and IDme account.
- Software validate data before you transmit to the IRS.
- Software imports up to 2,500 records. Additional 10,000 record increments can be purchased by calling sales at (480) 706-6474.
Recommended
Outsourcing
Call for a quote.
- We assign a real person to review your data.
- No TCC required. No IDme. No finger print.
- Let our trained staff import your data from excel, print and mail, and electronically file on your behalf using our TCC number.
- Custom quotes tailored specifically to your needs. We are committed to providing you with exceptional service and competitive pricing.
Software Advantages
It's Secure: Transmit your data directly to the IRS or to any specific state portal. Your data is not transmitted via the cloud or any third party.
Excel Integration: Import your data from excel (xls, xlsx). Download your sample excel file
to get started.
Print: Copy B can be printed on plain paper with black ink. No additional forms need to be purchased. Designed to be tri-folded into a standard,
#10 size, double window envelope.
Files are processed faster with fewer errors: Our software does an excellent job of detecting errors before you transmit your data to the IRS.
FREE Technical Support: Speak to a local and live support specialist. We can answer any question that might arise.
Recommended
Outsourcing Advantages
We can print, mail and electronically file on your behalf originals or corrections for current or prior tax years to the IRS through the Combined Federal/State
program and to any specific states.
Assigned Representative: Every customer is assigned a dedicated representative who provides personalized support with at least 15 years of tax filing experience.
Reduced Administrative Burden: By outsourcing tax-related tasks, businesses can free up their internal resources to focus on core operations.
No TCC or ID.me Account Required: The service eliminates the need for obtaining Transmitter Control Codes (TCC) or verifying identity through ID.me, which can be
cumbersome for businesses.
High Volume & Complex Filing Capabilities: 1099FIRE is equipped to manage large volume filings, multiple payers, and handle state filings, bulk TIN
matching, and more, including transmission through the Combined Federal/State Filing (CFSF) program.
Why do I need to call for a quote? Every project is different, and a one-size-fits-all approach simply won't do. Calling us for a custom quote will ensure that our team can
thoroughly understand your specific needs and provide a solution that's perfect for you. Sales can be reached at (480) 706-6474.
New Electronic Filing Mandate
IRS mandates electronic filing of 10 or more information returns. The new threshold is effective for information returns beginning tax year 2023. FIRE TCC holders who submitted their TCC
application prior to September 26, 2021, must complete and submit a new application and verify their identity through ID.me, an IRS provider of sign-in services.
You can only paper file information returns to the IRS if you have 10 or fewer aggregate returns to file. If you have more than 10 information returns of any one type
(such as Forms 1099, W-2, or 1098), the IRS mandates electronic filing instead of paper filing.
More companies are moving to third party efiling solutions due to this new threshold and efiling requirements. Contact 1099FIRE at (480) 706-6474 for more information
on outsourcing solution.
Original, Corrections, Prior Years
Not a problem. Our software and outsourcing services are capable of meeting your needs. Print and electronically file originals or corrections for current or prior tax years.
About IRS Form 1098-E
IRS Form 1098-E is a tax document used to report interest paid on qualified student loans during the tax year. If you paid more than $600 in student loan interest, the lender is
required to send you a Form 1098-E. The form is necessary for borrowers to claim the student loan interest deduction, potentially lowering their taxable income when filing
their taxes.
Who Receives Form 1098-E: Borrowers who have paid $600 or more in student loan interest during the tax year receive Form 1098-E.
Who Sends Form 1098-E: Student loan lenders or servicers send Form 1098-E**. These are the financial institutions or loan servicing companies to whom borrowers make payments on
their student loans. The lender is required to send this form if the borrower has paid $600 or more in interest on qualified student loans during the tax year.
Purpose of Form 1098-E: Form 1098-E is used to help taxpayers determine if they qualify for the student loan interest deduction. This deduction allows eligible borrowers to deduct up to
$2,500 of interest paid on a qualified student loan from their taxable income.
Due Date: Lenders must provide Form 1098-E to borrowers by January 31 following the end of the tax year. Lenders have until March 31 to submit the form electronically to the IRS.
Articles...
