熊猫在线视频

For students and families who meet certain IRS income guidelines, the American Opportunity Tax Credit allows for a federal income tax credit of up to $2,500 for payments made by or on behalf of students within their first four years of post-secondary (undergraduate) education. The student must also be in a degree-granting program and attending at least part-time. In most instances, a nonresident alien student does not qualify for the credit.

• The American Opportunity Tax Credit allows for an 100 percent tax credit for the first $2,000 of payments made for qualified educational expenses and a 25 percent credit for the next $2,000.
• The American Opportunity Tax Credit may be taken for all qualifying students who are claimed as dependents. The student may claim the credit if he or she is not a dependent on another person's tax return

Remember to consult a tax professional to determine if you qualify for the credit.

The Lifetime Learning Tax Credit assists families of eligible students by providing a per year tax credit of up to $2,000. The tax credit may apply to graduate, undergraduate or professional degree courses.

The student must be enrolled in at least one course during the tax year and in most instances a nonresident alien does not qualify for the credit.

Remember to consult a tax professional to determine if you qualify for the credit.

What is a 1098T Tax Form?

The 1098-T is a Tuition Payment Statement. Colleges and universities are required to issue it so that students may determine their eligibility for education tax credits when preparing their federal income tax return. The form reports the amount paid by you to the University during the previous calendar year. Receiving a 1098-T does not mean you are necessarily eligible for an education tax credit. To determine your eligibility, contact your tax advisor or .

Do I qualify for a 1098T Tax Form?

Not every student receives a 1098-T each year. If you didn't receive one and you're wondering why, below are some reasons why that might be the case:

• We don't issue a 1098-T for courses for which no academic credit is offered, even if the student is otherwise enrolled in a degree program. (Continuing education courses are a common example of noncredit classes.)
• Nonresident alien students don't receive a 1098-T (a nonresident alien is a foreign national or non-U.S. citizen who has not passed the green card test or the substantial presence test). However, if you are a nonresident alien student and would like a 1098-T, we will issue one to you per your request.
• Students whose qualified tuition and related expenses are entirely waived or paid entirely with scholarships won't be issued a 1098-T.
• Students whose qualified tuition and related expenses are covered by a formal billing arrangement between an institution and the student's employer or a governmental entity, such as the Department of Veterans Affairs or the Department of Defense, won't be issued a 1098-T.

Why is “Box 7” checked off on my 1098T Tax Form?

Box 7 on form 1098-T indicates that the amount in Box 1 includes amounts paid during the tax year for an academic period that takes place in the next calendar year. If this box is checked, you may be eligible to claim a tax credit in either year. You should consult a licensed tax preparer for specific information about your potential eligibility.

When will IRS Form 1098T be mailed and what address will it be mailed to?

IRS Form 1098T will be mailed no later than January 31st to the student's home address.

Who will mail the IRS Form 1098T?

熊猫在线视频 has contracted with Educational Computer Services Inc. (ECSI) to compile and mail the IRS Form 1098T to our students. 熊猫在线视频 students will have unlimited access to the ECSI website via a unique PIN number where they can view and/or print a copy of their 1098T. ECSI will also provide a customer service number on the 1098T form. You may contact ECSI at 1-866-428-1098 or through .

Who will answer tax related questions?

The Bursar’s Office staff are not tax advisors and cannot offer tax advice. Students should refer all tax-related questions to their own tax advisor. Students may get additional information from IRS Publication 970, Tax Benefits for Higher Education or visit the Internal Revenue Service website for information regarding Education Credits.