Re: bursar-l: 1098T

Cheryl,

The key in this is to report accurately to the IRS no later than
3/31. If the student provided the correction, then you must update
your records and submit those corrections to the IRS. Incorrect TIN's
are subject to $50 penalty per incident. It sounds like the student
has done his due diligence on this one; it would be prudent to do likewise.

Best Regards,

Mansoor A. Rahman
Regulatory Compliance Officer
Student Services Center
632 Serra Street, Suite 160
Stanford University
Stanford, CA 94305
Mail Code: 6036
Direct: (650) 725-0320
Fax: (650) 725-0310
mrahman_at_stanford.edu
http://fingate.stanford.edu/students/index.html

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At 06:18 AM 3/11/2009, Harr, Shirley wrote:
>Please respond to the list.
>
>-----Original Message-----
>From: bursar-l-bounces_at_list.mail.virginia.edu
>[mailto:bursar-l-bounces_at_list.mail.virginia.edu] On Behalf Of Cheryl
>Murphy
>Sent: Wednesday, March 11, 2009 9:10 AM
>To: bursar-l_at_list.mail.virginia.edu
>Subject: bursar-l: 1098T
>
>Hello All,
>
>I'm looking for some guidance on corrections for the 1098T forms. I
>have two students who gave us the wrong social security numbers. We
>sent the forms out with the the number they reported to us. Now they
>decided to give us the correct numbers and want corrected forms. Do we
>have to provide corrected 1098T forms to them. Some of us say yes, some
>say no.
>
>If anyone one has any insights, it would be greatly appreciated.
>Thank you.
>Cheryl
>Bursar-l Archives: http://fa1.finadmin.virginia.edu/bursar/
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Received on Thu Mar 12 2009 - 08:08:37 EDT