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1098-T Reporting

1098-T Reporting. Gina Curry Director, Student Financial Services Center California State University, Sacramento. Anne Gross Vice President, Regulatory Affairs NACUBO. Discussion. 2011 IRS Penalty Notices W-9s Form Collection TIN Matching Recommendations for completing 1098-T

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1098-T Reporting

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  1. 1098-T Reporting Gina Curry Director, Student Financial Services Center California State University, Sacramento Anne Gross Vice President, Regulatory Affairs NACUBO

  2. Discussion 2011 IRS Penalty Notices W-9s Form Collection TIN Matching Recommendations for completing 1098-T 1098-T into the Future Resources

  3. 2011 IRS Penalty Notices NACUBO and CO directions for response to IRS IRS agreed to waive 2011 penalties What about 2012? Did anyone pay? NACUBO continuing conversations with IRS

  4. W-9S Form Collection PS Query to select invalid SSN and place service indicator forwarded from Nicole Louie 10/24/13 Send to all students with missing or invalid SSN with deadline Work with your Registrar to select deadline Form does not require a certifying signature Do you use the optional name and account number fields? http://www.irs.gov/pub/irs-pdf/fw9s.pdf NACUBO SFS Council to host a webinar on this in the coming months

  5. TIN Matching 1098-T not eligible to use the web-based IRS TIN matching program TIN mismatch a bigger problem than missing TIN NACUBO reaching out to AACRAO (Registrars) to see if they can help with this problem Note that Mentor DOES quote Title V and the IRS section about providing a SSN

  6. Mentor Application

  7. Recommendations for Completing 1098-T NACUBO Recommendations for Completing From 1098-T Advisory Report 2013 – 2 http://www.nacubo.org/Documents/BusinessPolicyAreas/1098TAdvisoryReport20132.pdf

  8. 1098-T into the Future NACUBO continues work with the IRS and the federal legislature Lawmakers fail to understand the complications of reporting Pressure to have us all report in Box 1 (Payments) Current recommendation: Report Box 1, Box 2 and Box 5

  9. Resources IRS Penalty Notices NACUBO Advisory Report 2013 – 1 http://www.nacubo.org/Documents/BusinessPolicyAreas/NACUBO_Advisory_Report_on_Form_1098_T_Compliance.pdf Recommendations for Completing From 1098-T Advisory Report 2013 – 2 http://www.nacubo.org/Documents/BusinessPolicyAreas/1098TAdvisoryReport20132.pdf Roberta McNiel, CPA and Manager of Internal Control & Compliance, CSU Chancellor’s Office, rmcniel@calstate.edu

  10. Contact Information Gina Curry Director, Student Financial Services Center California State University, Sacramento curryg@csus.edu (916) 278-7433 Anne Gross Vice President, Regulatory Affairs NACUBO agross@nacubo.org (202) 861-2544

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