Paymybill - What is the purpose of IRS Form 1098-T?
Explanation of the IRS Form 1098-T
The 1098-T form is used by eligible educational institutions to report information about their students to the IRS as required by the Taxpayer Relief Act of 1997. Eligible educational institutions are required to submit the student's name, address, taxpayer's identification number (TIN), enrollment status, payments pertaining to qualified tuition and related expenses, and scholarships and/or grants, taxable or not. The purpose of IRS Form 1098-T is to assist you in determining if you are eligible for one or more education tax credit(s).