The Taxpayer Relief Act of 1997 allows a tax credit to be claimed for out-of-pocket payments made to Southwestern Illinois College (SWIC) during the Tax Filing Year (January 1 – December 31) for tuition and certain fees. The IRS requires that SWIC provide the 1098-T statement to you for your use in completing IRS Form 8863-Education Credits, Hope and Lifetime Learning Credits. This statement reports amounts billed at SWIC in the Tax Filing Year. This information is also reported to the IRS. 

The amounts and calculations used to determine the credit are the decision of the taxpayer after consideration of relevant IRS regulations, Form 8863, and, perhaps, the advice of a tax consultant. We recommend that you refer to your student invoices (bills), receipts or information from your eSTORM account to assist you in determining the amount of credit that may be claimed on your behalf. To obtain detailed payment and billing information, log into your eSTORM  account. Go into the Student Center and check the Account Activity under the other financial areas of the Finances section or check the 1098T Reports folder. This information must not be construed as tax advice. 

Southwestern Illinois College cannot advise on questions pertaining to a student or parent’s specific tax situation. Please contact your tax advisor or the Internal Revenue Service for information about your tax return. 

Non US Citizen students are required by law to provide their taxpayer identification number (TIN) to Southwestern Illinois College.

A taxpayer identification number (TIN) is a unique nine-digit number assigned to a person or entity. The Internal Revenue Service (IRS) uses TINs for tax purposes to identify and track taxpayers. Among others, TINs are mandatory to file tax returns or claim treaty benefits.

The following are the types of TINs:

• Social Security Number (SSN).
• Employer Identification Number (EIN).
• Individual Taxpayer Identification Number (ITIN).
• Taxpayer Identification Number for Pending U.S. Adoptions (ATIN).
• Preparer Taxpayer Identification Number (PTIN).

TINs can be issued by the Social Security Administration (SSA) or by the IRS. The SSA issues the SSN, whereas the IRS issues all other TINs listed above.

To ensure your tax documents have the correct information, take the following steps in your Student Center:

• Under Personal Information, go to Demographic Data to check that your name is correct or up to date and to ensure you have the correct Social Security Number (SSN) or Taxpayer Identification Number (TIN) on file.
• If one or more pieces of information is incorrect, please contact Enrollment Services for any corrections at (618)235-2700 ext. 5455 or EnrollmentServices@swic.edu.

For additional information, see 1098-T Information in the eSTORM help section. 

Important Changes to 1098T Reporting

In previous years, your 1098-T included a figure in Box 2 that represented the qualified tuition and related expenses (QTRE) we billed to your student account for the calendar (tax) year. Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, we will report in Box 1 the amount of QTRE you paid during the year.

Depending on your income (or your family’s income, if you are a dependent), whether you were considered full or half-time enrolled, and the amount of your qualified educational expenses for the year, you may be eligible for a federal education tax credit. (You can find detailed information about claiming education tax credits in IRS Publication 970, page 9.)

The dollar amounts reported on your Form 1098-T may assist you in completing IRS Form 8863 – the form used for calculating the education tax credits that a taxpayer may claim as part of your tax return.

For more information about Form 1098-T, visit:  https://www.irs.gov/pub/irs-pdf/f1098t.pdf