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IRS Form 1098-T (Tax Year 2024)

Tuition Statement

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.

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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-T

IRS Form 1098-T is used by educational institutions to report information about eligible students' tuition and related expenses. It's primarily used to help students or their families claim education-related tax benefits like the American Opportunity Tax Credit (AOTC) or the Lifetime Learning Credit (LLC).

Who Receives Form 1098-T: Students who are enrolled in an eligible educational institution and have paid qualified expenses, like tuition and course-related fees, receive the form. If a student is a dependent, their parent or guardian may use the information from the form to claim education-related tax benefits on their tax return.

Who Sends Form 1098-T: Educational institutions (such as colleges, universities, and vocational schools) that are eligible to participate in the Department of Education's student aid programs must send Form 1098-T to students. The school must send the form to any student who has paid qualified tuition and related expenses during the tax year.

Purpose: The form reports the total payments made for qualified educational expenses during the tax year (Box 1). Students and their families use the information on Form 1098-T to determine eligibility for education tax credits or deductions when filing their tax returns.

Due Date: Educational institutions must provide Form 1098-T to students by January 31 following the end of the tax year. File electronically by March 31.