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1098T Tax Credit Information

 If you need to update your SSN or TIN with the University, please complete a W-9S https://www.irs.gov/pub/irs-pdf/fw9.pdf (Substitute form) and return to the Registrar’s Office by faxing to: 978-665-3559 or mailing the form to Fitchburg State University; Attn:  Registrar, 160 Pearl St., Fitchburg, MA 01420.  Do not email the form to usFailure to submit your SSN/TIN may result in a $50 fine from the IRS.

During 1997 President Clinton signed a bill into law providing for possible income tax credits for students attending colleges and universities. Three of these newly established programs are of particular relevance to students: the American Opportunity Tax Credit, the Lifetime Learning Credit, and Student Loan Interest Deduction.

New for 2018:

When you receive your tax document in 2019 for the 2018 tax year, it will look slightly different than it has in prior years. Congress and the IRS eliminated the option for colleges and universities to report the “amounts billed” on form 1098-T. Colleges and universities must now report the “amounts paid” for qualified tuition and expenses. This change went into effect for the 2018 tax year.

Why the change?

Based on a report compiled by the US Inspector General for Tax Administration, it was determined there were a large number of errors as it relates to educational tax credits. The majority of these errors were caused by confusion regarding Box 2 (amounts billed) reporting. This change eliminates this confusion and the potential for inaccuracies on 1098-T forms going forward.

So, what does that mean for you?

This means that you will no longer see any amounts in Box 2 (Amounts billed for qualified tuition and related expenses) on your 1098-T form. You will, however, see an amount in Box 1 (Payments received for qualified tuition and related expenses). A sample 1098-T form has been provided below.

Please note that Student Accounts cannot give you any tax advice. Please consult with your Tax Accountant for questions regarding your eligibility to take this tax benefit.

  • To view your 1098-T FORM login to your eBill Please note that forms will be available at the end of January. Students who are eligible for a 1098T this year will be emailed when they are available. Students can opt in to view their 1098T electronically and can give permission for their Authorized User to view the 1098T as well. Having the form electronically allows you to print it or view it anytime (please note that no paper form will be mailed if you opt in for the electronic copy)
  • 2017 Tax Year - Fitchburg State reports in Box 2 (qualified tuition and fees)
  • 2018 Tax Year - the IRS regulations have changed and all schools will need to report in Box 1 (qualified payments received)
  • For more information about this tax credit please visit IRS 1098T.
  • FAQs about the 1098T (MS Word)