Important Tax Information From UW-Superior - Dec 13, 2013 - Bursar/Cashier's Office - UW-Superior News and Events

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Important Tax Information From UW-Superior

Posted on Dec 13, 2013

As required by the Internal Revenue Service (IRS), Form 1098-T will befurnished to all students who had qualified tuition and other relatededucational expenses billed to them during the previous calendar year.

The University of Wisconsin System has contracted with UniversityAccounting Services (UAS) to provide the 1098T tax document through a websitecalled "Get My Document". UAS will send reminder e-mails during themonth of January. These e-mails will come to your campus e-mail address from1098T@eforms.uwsa and will contain a link to the "Get My Document"website. Click on the link in the email and follow the instructions to view andprint your 1098T document. The site is completely secure. If students do notelectronically access their 1098T by January 31, a paper copy will be mailed tothe mailing address on file at UW-Superior.

It is very important that the social security number you have on file withUW-Superior is accurate.

If your tuition expenses are completely covered by grants, scholarships,and/or a third party, you will not receive a 1098T.

The 1098-T form is informational only and shouldnot be considered as tax advice- please seethe IRS website for tax information: http://www.irs.gov/uac/Tax-Benefits-for-Education:-Information-Center

The 1098 serves to alert students that they may be eligible for federalincome tax education credits such as the Lifetime Learning Credit and the AmericanOpportunity Credit as part of their Federal Income Tax Return. IRS Publication970 "Tax Benefits for Higher Education" as well as Chapter 35 of IRSPublication 17 provide additional information on these credits. While it is agood starting point, the 1098-T, as designed and regulated by the IRS, does notcontain all of the information needed to claim a tax credit. To determinethe amount of qualified tuition and fees paid, and the amount ofscholarships and grants received, a taxpayer should use their own financialrecords. There is no IRS requirement that you must claim the tuition andfees deduction or an education credit. Claiming education tax benefits is avoluntary decision for those who may qualify.

Answers tofrequently asked questions are available on the Bursar/Cashier's Office websitehttp://www.uwsuper.edu/bursar/studenttax.cfm

News Contact: Charles Wold | 715-394-8225 | cwold{atuws}
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