Lynn University is required to file to the Internal Revenue Service (IRS) for each student who enrolled and for whom a reportable transaction was made on their student account, a 1098-T, Tuition Statement .
As of tax year 2018, Lynn University will report the amount paid for the calendar year for qualified expenses. Each student is required to verify that their social security number is on file in the Office of the Registrar no later than December 31, 2018, in order for a 1098-T to be produced.
Students have the option to receive their 1098-T electronically or by mail. Students must consent to receiving this form electronically or a paper version will be mailed to the legal home permanent address listed on file with the Office of the Registrar.
In the event that Lynn University does not have the student social security number on file, a blank number will be reported to the IRS when the 1098-T records are submitted to them. Students may be penalized $50 by the IRS for not submitting the social security number to the University on a timely basis. Lynn University does not provide the 1098T information to students that are considered to be nonresident aliens (not U.S. citizens). Students with this standing cannot claim the tax credit and would need to use an IRS 1040NR or 1040NREZ form to report their taxes.
Students that provide electronic consent on my Lynn, will have 1098- T’s available by January 23, 2019. All other students will have a paper copy mailed by January 31st, 2019.