1098-T Financial Reporting Requirements Are Coming...
Is Your Institution Ready?
 
 
Affiliated Computer Services, Inc. (ACS) closely monitors the Hope Scholarship and Lifetime Learning Tax Credit regulations as issued by the Internal Revenue Service (IRS). According to the latest proposed regulations, Tax Year 2002 will be the last waiver year in which schools will be exempt from reporting financial information on 1098-T forms. As a result of communications with the IRS, ACS believes the proposed regulations will become final and colleges and universities will be required to begin reporting financial information for Tax Year 2003.
 
 
TCRS
 
collegebuys.org would like to encourage our member colleges to prepare for these new reporting requirements NOW by working with the ACS Tax Credit Reporting Service (TCRS^SM). ACS currently has partnerships with nearly 500 institutions to help them meet their 1098-T reporting needs. ACS will also work with your staff to develop a simple and easy process to extract financial data that can be submitted to students in January 2003. The state-of-the-art, Internet-based system is very easy to use. The TCRS system also provides several options for generating demographic and financial data, and gives schools control over the method in which the financial data is reported. Financial reporting requirements are coming…make sure your school is ready.
 

Beat the rush…….HOW TO ORDER
For TCRS service level descriptions, and related discount pricing for collegebuys.org member colleges, please contact Kerry Shronts, Director of Sales, ACS, Inc., 336-750-0340, or e-mail him at kshronts@afsa.com. Remember to mention collegebuys when ordering.