Re: bursar-l: 1098T

Banner Schools

I just got a student with the wrong ssn and I already submitted to the
IRS. How do you change the ssn in Banner?

Diane Trainer
Bursar
Lehigh Carbon Community College
4525 Education Park Drive
Schnecksville, Pa 18078
610-799-1737

>>> "Holland, Barry (hollanbl)" <HOLLANBL_at_UCMAIL.UC.EDU> 3/11/2009 9:48
AM >>>
Yes, you should prepare revised 1098-Ts with each student's correct
SSN. I certainly understand your frustration since the students gave
you the wrong numbers.

If you make the correction before you submit the 1098-Ts to IRS, then
IRS will view your revised form as their "original," so it will not be a
"corrected" form in their eyes.

If you have already submitted your (incorrect) 1098-Ts to IRS, then you
should follow their procedures for submitting Corrected 1098-Ts to
them.

Guidance on correcting SSNs can be found in the 2008 General
Instructions for Forms 1099, 1098, 5498 and W-2G at
http://www.irs.gov/pub/irs-pdf/i1099gi_08.pdf See page 5 for
electronic submissions to IRS, and page 6 for paper submissions. The
chart on page 7 is helpful, as well.

Those instructions clarify that you will need to "furnish corrected
statements" to the students, as well.

Barry L. Holland
Director, Tax Compliance
Office of the Treasurer
University of Cincinnati
PO Box 210641
Cincinnati, OH 45221-0641
Phone: 513-556-5899
Fax: 513-556-2504
Barry.Holland_at_uc.edu
www.uc.edu/af/tax

Campus location: 500 University Hall

-----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/

Subscribe or Unsubscribe:
https://list.mail.virginia.edu/mailman/listinfo/bursar-l
Bursar-l Archives: http://fa1.finadmin.virginia.edu/bursar/

Subscribe or Unsubscribe: https://list.mail.virginia.edu/mailman/listinfo/bursar-l
Received on Mon May 11 2009 - 16:18:19 EDT