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FAQ - Form Instruction 1098-E & 1098-T

What is the purpose of Form Instruction 1098-E & 1098-T?
You should fill out a special Form 1098-E and 1098-T because of a tax shelter. Many tax shelters do not report income or deductions, and Form 1098 is used because there is no other way to report the tax shelter. (See “Other IRS Resources for Tax Shelters.”) Form 1098-E and Form 1098-T are also used to obtain IRS tax refunds. For tax year 2017, you can get a refund for taxes paid in 2017 if you have not filed a tax return; or, if you filed a tax return, and you got the refund because you had a tax shelter in 2017. Important: IRS Publication 547, General Instructions for Completing an IRS Checklist, contains information on how to complete Form 1098. Important: The IRS website is where Form 1098-E and 1098-T are kept in order to prevent duplicate filings. We also cannot accept or process more than one Form 1098-E and 1098-T for each tax year unless you request that we do so. I am a sole proprieties, and a tax shelter is reported. May I only apply 1098-E and 5498/1098-T for that tax year to my taxes? No. You may only use a Form 1098-E and 1098-T for the same year for each Tax Year. For example, you may use two Forms 1098-E and 1098-T for the same year for an item or property, even if the amount varies. However, if you file a joint tax return on Form 1040, you may only use one Form 1098-E and 1098-T for each spouse. And if you file separately, you may only use one Form 1098-E and 1098-T for your business. If you and another person file a joint tax return, you may only use one total copy of Form 1098-E for the business. (See Publication 544, Information for Individuals With Income Deprived by Tax Shelter.) May I use more than one Form 5498 to report the same item or item under two separate transactions for which I paid no tax? No. You may not use more than one Form 5498 for different taxes you paid or didn't pay.
Who should complete Form Instruction 1098-E & 1098-T?
How many copies of Form 1098-E & 1098-T should be used? Must you attach your copy of Form 1098-E & 1098-T to your return for the year? You may not include more information than the rules require on Form 1098-E and Form 1098-T. For a complete explanation, see Instructions for Forms 1098-E & 1098-T. If you include additional information on Forms 1098-E and 1098-T, you do not have to include your original copy of form. When completing your Form 1098-E and Form 1098-T by hand, or in a computer, you do not have to use the information that's on the forms. You cannot send a copy of your Form 1098-E or 1098-T if you have a correction to make. See Question 9. If your correction is not approved, the correction is not filed on your return. To include corrections on Form 1098-E and Form 1098-T, write the correction number (NR) on the front of the correction statement. You do not need to submit your Form 1098-E or Form 1098-T to correct corrections to other information on your return. Your corrections will be entered on your Form 1040X. To keep the corrections until you file your return, submit your corrections to the IRS. They will not be entered on your Form 1040X until you file your return. Corrections to any information on Form 1098-E must be entered correctly on your Form 1040X or Form 1040NR. However, corrections to other information on your return may be entered on your Form 1098-E or Form 1098-T. This includes corrections for prior years. Form 1098-E Corrections for taxes paid to any of your domestic corporations: If you or your domestic corporation files Form 1098-E, you can claim a deduction for these taxes. If you claimed the deduction on your Form 1040, you must enter the total of any refunds you claim, including the amount from which you deducted the credit. If you file Form 1098-E, you must attach a copy of this form to your return for the year you file.
When do I need to complete Form Instruction 1098-E & 1098-T?
Complete Form Instruction 1098-E & 1098-T when your child enters kindergarten. What should I do if my child does not show up for breakfast? Your child may have dropped out of school. If the school is closed, and it is not the family's decision, make sure that the school has left a forwarding address. Call the district's office and make sure they have left a forwarding address. If necessary, call the Child Protective Services office in the county where the child is enrolled and make sure there is a local hotline to contact for the school. Check the school's calendar to find the next day the school's attendance office is open. Call the school's office (not the phone) to tell them that your child does not attend school and give the names of the other children who attend the school. If it is determined that your child may not be attending school they have 2 options: A) Report your child to a juvenile or municipal court, if child abuse charges have been filed. C) Send a letter to the school telling them your decision. My child has never been suspended. He/she has only ever missed one day in 10. Does my school need my child's record of attendance to determine if he/she is a repeat offender? No. The school may have any information it needs to determine if your child is a repeat offender, even though he/she has never been suspended or had a behavioral issue. Some information used for determining repeat offender status includes: The number of times your child has behaved in a way that is contrary to the school's expectations. The number of times your child has been disciplined in any grade The number of times your child has been sent out of grade (suspended) The number of non-academic suspensions The number of unexcused absences The total number of absences at each grade level The number of unexcused absences at different grade levels The student's performance on standardized tests If he/she was never suspended or if there was never a problem, it does not matter whether he/she has never been formally tried. This policy is based on the belief that students who have not been suspended and who have not been formally tried cannot be treated as repeat offenders and could be allowed to return to the class with the benefit of a formal hearing. My child was a non-academic student for many years.
Can I create my own Form Instruction 1098-E & 1098-T?
No. The Department's Form Instruction 1098-E, Application for Certification, and 1098-T, Application for Continuing Professional Education (CPE), are the only forms you need to fill out. What are the requirements for continuing professional education (CPE)? CPE can be received on the condition that a business meets certain educational requirements. These requirements are found on the Form Instruction 1098-E and are addressed in the “CPE Eligibility” section of that form. A business's continuing education program must be conducted in compliance with all appropriate Federal and State regulations. The business must also provide a report to the Department on each approved program that covers the period of time that the program is in effect. Why do business educational courses need a Business Education Certificate, or BE C? Certification is required to obtain educational credit for the business. A business does not have to be accredited to have an educational certificate issued. A business may be identified as an “academic institution” as long as it meets educational criteria that do not make it eligible for certification. What are the requirements for Business Education (BE) C? A BE C must be obtained as a minimum of 1 year after you have had a bachelor's degree. Does my business need a new, renewal commercial driver education certificate? No. A commercial driver education certificate that was valid on the date that it expires expired no later than the expiration date of that certificate. You may renew your certificate by applying for a new certificate. Do I have to get a new commercial driver education certificate each time I renew my commercial driver education certificate? No. You can only obtain a new commercial driver education certificate each time you complete a new course or curriculum. What are the requirements for continuing professional education (CPE) in connection with commercial motor vehicle (CMV) driver education? Businesses that conduct business for hire as a CMV driver must be eligible to receive Continuing Professional Education (CPE) credits. CPE credit programs are designed to provide employers with better knowledge of the competencies and skills required for safe operation of a commercial motor vehicle. Under the Federal Acquisition Regulations, the Department of Transportation (DOT) grants certain programs, called “approved” or “competing” CPE programs, to businesses to satisfy Federal mandates and/or to achieve Federal priorities.
What should I do with Form Instruction 1098-E & 1098-T when it’s complete?
Filed electronically through the IRS Electronic Filing System, e-Forms are considered incomplete within 90 days after its due date and must be submitted again. You can request additional extensions for filing by calling the telephone number or online at the IRS website. Back to top Is my e-Form fee refundable? If the electronic filing system is down because of an outage, the IRS may need to suspend processing your e-Forms. A failure to provide correct identification information for Schedule E-4 (Form 1098-E) will cause an additional 600 penalties to be assessed. A failure to provide correct income information for Schedule E-4 (Form 1098) or U.S. Exemption Letter (Form 1098-T) will result in a further 600 penalty assessment. When there is no apparent reason for the failure, the IRS will issue a refund. Back to top How do I file an e-Form? In most instances, you can file an e-Form by opening an electronic mail message from the IRS e-file system or by using an IRS.gov e-file site, which allows a more secure way to file. The system requires a password to access e-file information. When using the Internet to file, keep in mind that you must use a system-specific address. To open an e-file web page through a web browser, use the web address or, whichever is provided for your system. For more information about filing electronically, check out the IRS e-file site on IRS.gov or contact the IRS Taxpayer Advocate for help with e-file questions. Back to top Why don't the forms I filed include all the information I need? Why don't I get a refund? An IRS representative cannot give you a reason as to why your electronic filing software fails. However, you may be asked to take additional action such as downloading the new or amended form, or completing a new form. You can get a refund for forms you filed that have errors that cause you to lose the correct income and withholding amount because of a mismatch between the tax information you entered and the information the IRS received. There are two different situations that can cause this mismatch.
How do I get my Form Instruction 1098-E & 1098-T?
You can fill out the Form Instruction online. This form is usually available only when you are submitting a Federal tax return and/or Form 1040NR & 1040NR-EZ (if filing a joint return) or Form 1040NR & 1040NR-NR. If you have a tax return or Form 1040NR and/or 1040NR-EZ, you should not use a form designed for your specific tax situation or the specific year to receive Form Instruction 1098-E (and/or 1098-T). Instead, use a standard form 1040NR for all years. However, if requesting an Instruction that specifically references a tax year and is not part of Form 1040NR, you should use the Form Instruction specific to that year. The form is attached to this instruction. Please note, that if there is anything not listed as an Instruction, it will not be returned to you. For more details, you may want to check the instructions for the form used for the tax year when the Form Instruction was requested. Form 1096-R may contain the Form Instruction as part of the information to be submitted. For a list of the instructions that are normally used, go here. More information about how to fill out Form 886-R and how to send Forms 886 & 886-S When will I get my Form Instruction 1098-E (and/or 1098-T)? If you have filed Form 1040NR & 1040NR-EZ and filed the Form Instruction 1098-E & 1098-T, they will be mailed to you within 7-10 business days. You can see the latest USPS date of arrival here. If, on the other hand, you filed Form 1040NR and do not have a Form Instruction 1098-E and/or 1098-T, you will receive a Form 6291. Instructions for this form, can be found here. You can receive these instructions through the postal system or by writing to your nearest USPS Customer Service Center or Postal Services Office. Why do I receive a Form Instruction 1098-E (and/or 1098-T) when I request one but not another Form? One should not confuse form 1098-E (which specifies a filing deadline) with Form 8859 (which indicates a Form 8859 filing date that must be followed).
What documents do I need to attach to my Form Instruction 1098-E & 1098-T?
When you file Form 1098-E or Form 1098-T, you will need to attach the following documents to your return. For a paper copy of the Form Instructions for Form 1098-E, fill out Form 1098-E Instructions for Copy Filed by Paper Only, select Form Instructions for Paper Only from the drop-down list, and complete as directed by the instructions, and , select Form Instructions for Paper Only from the drop-down list, and complete as directed by the instructions, and if applicable, you may want to attach an accompanying letter stating why the amount to be withheld should be withheld, and what the tax should be withheld for, to the Form 1098-E Instructions for Copy Filed by Paper Only. Where do I attach a copy of Form 1098-E? When you file Form 1098-E or Form 1098-T, you do not need to attach a copy of each return. You can select any year to file on the following page, and you will be ready to attach a copy of the Form 1098-E or 1098-T showing your income and tax withheld for that year from your income tax return. This page explains how to indicate the date (with the appropriate statement printed on the form) of your filing and what is to be included on Form 1098-E or 1098-T, as appropriate. The instructions on your copy of your Form 1098-E will explain how to indicate other information including information you do not need to put on your copy of the Form 1098-E or 1098-T. As an example, in the 2015 tax year, a joint return was filed with one spouse. As shown in column 2 of the example on the page, the Form 1098-E instructions should show that the amount to be withheld (less any applicable credits for dependent care, charitable contributions and certain mortgage interest expense) is 1,200. The return that you file on this page will include a Form 1098-E showing the tax withheld, the amount due and any other information. Where do I file an accompanying letter? It is common for a form 1098-E accompanied by a letter for each parent, spouse, child or other person to accompany the copy of the form to show the child's or other person's position on the return.
What are the different types of Form Instruction 1098-E & 1098-T?
All Form Instructions 1098-E & 1098-T are the same. These are all Form Instructions that a taxpayer needs to file with the IRS. There are two types of Form Instructions 1098-E & 1098-T; one is for filing your tax return electronically, and one is for filing the Taxpayer Identification Number and return with paper. In most cases, it is not necessary to file a paper return. Form Instruction 1098-E is the official form that you will use to file Form 1040. However, you may need to file Form 1040-T to file an extension to file your tax return by Feb. 15. The IRS does not consider paper Form 1098-E to be an extension since it was issued by the IRS. There are two requirements that you must meet before filing a paper form; you must submit your Form 1098-E and a valid copy of your Form 1040 or 1040-T to the local post office, tax office or your local tax refund office at least 4 business days in advance of the due date. Your Form 1098-E must also satisfy the requirements of Form 1098 for a paper return, below. The 4th date in Form 1098-E and your Form 1040 or 1040-T must be no later than the due date (e.g., Jan. 2, Feb. 15, March 15, etc.). Your Form 1098-E must also have a letter signed by you certifying your address of residence and proof of eligibility for the Earned Income Tax Credit. If you do not have a letter in this form of qualifying documentation, you will need to file a Form 8862 with the IRS. This form will provide you with a letter notarized to certify that you have been in residence for the 5 years preceding the filing of the return. For more info on filing 1098S, see. What Form Instructions 1098-E is used for? You will receive a copy of Form 1098-E if you are subject to the Individual Taxpayer Identification Number (ITIN). You need to file Form 1098-E to: Report Form 1040 or 1040-A if the Form 1040-EZ was terminated.
How many people fill out Form Instruction 1098-E & 1098-T each year?
On average the IRS receives 5.1 million Forms 1098-E & 1098-T (i.e. 1098) and 5.6 million Forms 1098-T in tax returns during any year. For more information about Form 1098-E and 1098-T, visit Form 1098: How to Use the Form and see the IRS Web page on Forms 1098, 1098-E and 1098-T at IRS.gov/forms. When does the IRS get Form 1098-E & 1098-T? Form 1098-E and 1098-T are submitted on the same day, tax-filing day. How often does the IRS get Form 1098-E and 1098-T? The IRS receives Form 1098-E and Form 1098-T for your tax return at least once per year. The IRS receives Form 1098-T once per year. Is Form 1098 used to file a joint return? No. Form 1098 is used for the collection of taxes in accordance with the law. Generally, Form 1098 is used to collect overpayments of overpayments and overpayments of underpayments of taxes due, and should not be used as a substitute for the regular tax-filing process, which allows individuals and businesses to file a return electronically to provide their completed return by mail, at least three complete years before the due date of that tax return. To find out more about joint return filing, go to the Joint and Several Return pages at IRS.gov/jr. Do not file Form 1098 with a return that may have a joint return status or for which the individual filing the Form 1098-E & 1098-T is receiving an individual return. Do I need to file Form 1098-E & 1098-T if I do not remit income tax to the IRS or a foreign country? No. Although you may receive Form 1098-E and/or 1098-T, you do not always need to file it. You can submit Form 1098-E and/or 1098-T at any time. The IRS does not require you to file Form 1098-E and/or 1098-T if you paid the full amount withheld through withholding, and the payment is reported on Form 1096 or Form W-2.
Is there a due date for Form Instruction 1098-E & 1098-T?
Not necessarily. The due date depends on the filing authority. The date of any report or amendment filed pursuant to Section 6103(b) of the Code may be earlier than the due date for the Form 1098-E & 1098-T. The filing authority must correct this fact on the Form 1098-E & 1098-T. Am I allowed to use the Form 1098-E and Form 1098-T to file my returns? No. Section 6103(c) of the Act prohibits taxpayers from using the original Form 1098-E and Form 1098-T to file tax returns for tax years beginning on or after January 1, 2015. What documents do I need to send to the IRS using the new Form 1098-E and Form 1098-T? You must send all returns and other payments you made using these two new forms to the IRS using post office mail. What forms do I need to receive the Form 1098-T? If you are requesting a refund in the current year because you made a tax payment that does not exceed Form 1098-C that you received in April but did not file in the current year, you must request a Form 1098-T for the current year from your tax preparer. Can you tell me how much I will be refunded? No, the U.S. Treasury Department does not publish a refund schedule. If I pay for an item, and it is a gift, what amount will I report? If you paid for a gift to an IRA, you would report the value of the gift and not its fair market value. If I buy something and use it to make a deduction, what portion of the deduction will I report? If the cost of an item is a deductible expense, you do not report the full amount of the cost on your tax return. Only that portion of the cost that is not a deductible expense is reported on your tax return. The amount that is an expense is limited to the least of 2 percent or 1,000. If you do not make an item deductible, you would show the fair market value. If you buy something and sell it later for less than its cost, you would report the difference.
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