Allegheny College is not permitted to give tax advice. We can only explain the details of the amounts that are reported on your tax from. Please speak to your qualified tax advisor for advice on how to report the information that you receive.
Student 1098T Tax Form
Allegheny is required to mail a 1098-T form to each student who has been billed within the tax year. The form must be mailed to the student’s permanent address we have on record no later than January 31 of each year. We also provide an electronic form through the “View My 1098T Tax Forms” link on your WebAdvisor account. We are not permitted to email or mail the 1098T directly to a parent.
The 1098-T form is used by eligible educational institutions to report information regarding their students to the IRS as required by the Taxpayer Relief Act of 1997. We are required to report amounts to the IRS pertaining to qualified tuition and related expenses, as well as scholarships and grants.
Allegheny is not permitted to provide tax advice. Questions regarding your taxes or eligibility should be directed to your personal tax advisor or the IRS Taxpayer Assistance at 1-800-829-1040. https://www.irs.gov/individuals/students
The information on your 1098T is submitted to the IRS. Section 6050S of the Internal Revenue Code, as enacted by the Taxpayer Relief Act of 1997, requires institutions to file this information.
Box 1 Calculation – The IRS instructs institutions to report payments received for qualified tuition and related expenses from all sources during the calendar year less any reimbursements or refunds, up to the total amount billed in that same calendar year.
Box 5 Calculation – The IRS instructs institutions to enter the total amount of scholarships and grants that were administered and processed during the calendar year for the payment of the student’s cost of attendance.
- Spring tuition is billed in December of the prior year; financial aid is applied to the bill during the spring semester.
- May Graduates may not have an amount in Box 1 because no tuition is billed in the calendar year but, can have an amount in Box 5 to report scholarships and grants received in the calendar year.
- May graduates without any scholarship and grant awards may not receive a 1098T.
- First year and other new students may have a larger amount in Box 1 and a smaller amount in Box 5 the first year.
Box 1 – Payments Received for Tuition and Fees
|Fall||July – August|
|Spring (late registration)||January|
|Summer||May – August|
Box 5 – Scholarships & Grants (Financial Aid)
|Fall||September – October|
Students can view details of the 1098T amounts by viewing their account activity or billing statement on the TMS-Student Account Center. Log into WebAdvisor and select the “TMS-Student Account Center” link to access the site.
Allegheny is required to mail the 1099-MISC tax form to all persons who qualify no later than January 31 of each year. We are required to report amounts to the IRS pertaining to gross income dispersed that cumulatively exceed $600 within the tax year.
Gross income includes:
- Off-campus Expenses
W-9 Tax Form
The W-9 form is the Request for Taxpayer Identification Number and Certification. All vendors and persons who wish to receive a payment from the College are required to submit a W-9 Tax form.
This form is required for tax purposes by the government. Invoices cannot be paid until the college has the Form W-9 on file.
The W-9 shows the complete business name and any “Does Business As” associated. It shows the type of business and tax implications as well as confirms whether or not amounts meet requirements to be added to a 1099 tax form.
Please complete a W-9 tax form and send back to us via email (firstname.lastname@example.org), fax (814-337-6602) or mail (Allegheny College, Accounts Payable, 520 North Main St. Box 4, Meadville, PA 16335).