Re: bursar-l: 1098T notification

That is our understanding as well. We are currently supplying our
students with a link so that they can give consent electronically. It
will be interesting to see how they respond.
 
Marlin Wallace
 
Olivet Nazarene University

>>> "Maria Brown" <mlbrown3_at_gw.ncsu.edu> 10/7/2009 7:29 AM >>>
Our interpretation is that the student must consent to have an
electronic 1098-T. It they don't consent, you must send it by mail:
 
http://www.irs.gov/instructions/i1099gi/ar02.html#d0e1354 (about 1/2
way through this document):
 
Consent. The recipient must consent in the affirmative and not have
withdrawn the consent before the statement is furnished. The consent by
the recipient must be made electronically in a way that shows that he or
she can access the statement in the electronic format in which it will
be furnished.
 
You must notify the recipient of any hardware or software changes prior
to furnishing the statement. A new consent to receive the statement
electronically is required after the new hardware or software is put
into service.
 Prior to furnishing the statements electronically, you must provide
the recipient a statement with the following statements prominently
displayed.

If the recipient does not consent to receive the statement
electronically, a paper copy will be provided.

The scope and duration of the consent. For example, whether the consent
applies to every year the statement is furnished or only for the January
31 immediately following the date of the consent.

How to obtain a paper copy after giving consent.

How to withdraw the consent. The consent may be withdrawn at any time
by furnishing the withdrawal in writing (electronically or on paper) to
the person whose name appears on the statement. Confirmation of the
withdrawal also will be in writing (electronically or on paper).

Notice of termination. The notice must state under what conditions the
statements will no longer be furnished to the recipient.

Procedures to update the recipient's information.

A description of the hardware and software required to access, print,
and retain a statement, and a date the statement will no longer be
available on the website.

Maria L. Brown
Associate Director
University Cashier's Office
North Carolina State University
2005 Harris Hall, CB#7213
Raleigh, NC 27695-7213

(919) 515-9762
(919) 515-1164 fax
Maria_Brown_at_ncsu.edu

"Just Gimme the Good News"

>>> "Deb Brondsema" <Deb.Brondsema_at_davenport.edu> 10/6/2009 2:52 PM
>>>
I would absolutely love it, if this was a fair interpretation!!
 
Deb
 
Deb Brondsema
General Accounting Manager
Davenport University
1.616.732.1116

>>> "Teresa Houston" <thouston_at_deltastate.edu> 10/6/2009 11:30 AM >>>

Jay,
 
Our interpretation is that the statement must be available to the
student. We provide an electronic version on-line and notify the
student via e-mail. If the student requests a copy, we print it off the
web. 1098Ts are not attached to the tax returns .
 
Teresa Houston
Delta State University
 
 

From:bursar-l-bounces_at_list.mail.virginia.edu
[mailto:bursar-l-bounces_at_list.mail.virginia.edu] On Behalf Of Pope,
Anson
Sent: Tuesday, October 06, 2009 8:12 AM
To: Jay Harper; bursar-l_at_list.mail.virginia.edu
Subject: Re: bursar-l: 1098T notification

 
Jay,
 
My understanding of it is that you need to obtain consent from the
students to provide an electronic only version. The consent must be in
writing, but may also be electronic (so an email blast with students
responding should be fine).
 
Another option is to provide it electronically and also send paper
versions. This way if a student does not receive the paper version, but
has access to the electronic one, then you are able to provide the
electronic without their consent.
 
Anson
 

From:bursar-l-bounces_at_list.mail.virginia.edu
[mailto:bursar-l-bounces_at_list.mail.virginia.edu] On Behalf Of Jay
Harper
Sent: Monday, October 05, 2009 2:37 PM
To: bursar-l_at_list.mail.virginia.edu
Subject: bursar-l: 1098T notification

 
Good afternoon:
 
I think I remember seeing this somewhere, but can anyone verify if we
have to send out paper 1098T’s, or will an electronic copy or posting on
a secure site along with proper notification suffice? Thanks!
 
__________________
Jay Harper '94
Bursar
Elon University
Campus Box 2050
P.O. Box 398
Elon, NC 27244
(336) 278-5277 phone
(336) 278-5276 fax
https://ebill.elon.edu ( https://ebill.elon.edu/ )
http://www.elon.edu/bursar
 
 

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Received on Wed Oct 07 2009 - 10:13:32 EDT