1098-T ReportingGet it handled with an expert partner.

Simplify Delivery with eConsentIRS regulations allow the written statements required by Section 6050S (d) (1098-T forms) to be furnished in an electronic format. We provide an easy-to-use “opt-in” login for students to request their tax forms electronically.

Once a student “opts-in,” we’ll send an email notice when the tax form is ready for download. We will handle all regulatory requirements, allowing your institution to take advantage of electronic delivery options and reduce costs by eliminating the printing and mailing of your 1098-T forms.

Additionally, we’ll notify your students when their forms are available, which they can access on the web.

For more information, visit: www.tcrs.com

Through TRA ’97, the IRS created a series of education tax benefit options for students and their parents. This added administrative and reporting requirements for colleges and universities already stressed with budget pressures. That’s why our tax credit reporting service has become such a winning solution for schools. With an expert solutions provider to handle all your 1098-T reporting, you can lighten your administrative load and improve cost efficiency at the same time.

At Xerox, we’re dedicated to helping schools maximize service and control costs, and every year, we help manage nearly three million 1098-T forms. With our service, we provide schools with the technology and tools needed to meet IRS tax credit reporting requirements. We also provide students and parent taxpayers with detailed financial information that is organized to assist them in claiming available tax credits/deductions.

In addition, we closely monitor the American Opportunity (Hope) Tax Credit, Lifetime Learning Tax Credit, or Higher Education Tuition and Fees Deduction regulations as issued by the Internal Revenue Service (IRS).

Be Prepared at Tax TimeWe work with more than 300 schools to help them meet 1098-T reporting requirements. We’ll help your staff extract demographic and financial data for processing and form creation. Our easy-to-use, web-based system provides the ability to directly input student data, generate statistical reports, issue corrected forms and create additional school users in order to delegate TRA’97 responsibilities.

The file structure, transfer process layout, and processing structure were developed with simplicity in mind to reduce the burden on school IT staffs. It has remained static across tax years, which further eases the level of effort required. We have the flexibility of supporting both methods of financial reporting (Qualified Payments or Qualified Charges).

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As a campus administrator, you’re most likely burdened with more than enough record keeping and reporting to keep you busy. At Xerox, we make the tax credit reporting process simpler, more accessible and convenient for schools, students and parent taxpayers.

With our team supporting your school, you can concentrate on your students and other responsibilities, while we handle the 1098-T regulations and reporting.

Key elements of our Tax Credit Reporting Solution

Data Collection and Transmission• Transmits data electronically via secure encryption and compression methods.• Provides automated data receipt acknowledgement by the system.• Returns only erroneous data for correction and retransmission.

1098-T Generation and Management• Enables generation of IRS-compliant 1098-T forms from aggregate student data.• Mails paper copies to students with electronic IRS submission.• Maintains all required data for entire IRS audit period.

• Supports year-round additions, corrections, and retransmissions.

Secure Web-based Environment• Enables secure, online viewing of 1098-T and financial data for schools, students,

and parents.• Delivers access to complete historical data across applicable tax years.

• Provides online reprints free-of-charge.

Proven Service and Support• Allows extensive toll-free, e-mail, or regular mail access for schools, students, and

parent taxpayers.• Provides dedicated School Relations Analysts who deliver prompt and accurate technical,

program, or policy support for schools.

“I have been working with your Tax Credit Reporting team for the past five years. During this time, I have been grateful for the personalized attention that my School Relations Analyst has given me. Whenever I have had a question, they have been readily available with an answer.

Additionally, your company has helped to make a complex and time-consuming process much more straightforward and efficient. Your school administration web site is easy to use. This tool has become very valuable to me as it, allows our school to view the actual 1098-T image that is being produced. It contains online documentation, and allows us to correct and add data to our 1098-T information whenever necessary.

Although you are my third-party vendor, there is a seamless transition from the student account to the services that they provide.

Thank you for your time and your continued great service!”

Rob’n T. Lewis, M.B.A.Director of Accounting/BursarClaremont Graduate University