th Annual PABUG Conference 1098T Banner Process – Easy or Difficult? Cathy Poiesz Messiah College

th Annual PABUG Conference General Announcements: Please turn off all cell phones/pagers If you must leave the session early, please do so as discreetly as possible Please avoid side conversations during the session Questions will be answered ….. Thank you for your cooperation

th Annual PABUG Conference To receive CPE credits for this session (if eligible), complete the CPE Attendance Form on the PABUG Annual Conference website group-annual-conference/cpe-credits/ or via the PABUG conference app. For additional questions please contact Kim Fremont CPE - Coordinator CPE Credits - We’ve gone electronic!

th Annual PABUG Conference Messiah College 4 year private school Mechanicsburg (south-central PA) Undergraduate students = 2820 (FT & PT) Graduate students = 491 (FT & PT) Banner 8.5

th Annual PABUG Conference Banner 1098T Process Flow

th Annual PABUG Conference Banner Set-Up Banner Accounts Receivable User Guide – Banner 8.5, dated Sept 2014 TTVREPT – Tax Report Validation TSATAXR – Tax Reporting Rules TSA1098 – Transmitter Information TSP1098 – Process Submission Controls GJAPCTL TSATAXN – Student Tax Notification TSR1098 – Process Submission Controls GJAPCTL

th Annual PABUG Conference Banner Set-Up Banner Accounts Receivable User Guide: -Page Page Page Page

th Annual PABUG Conference 1098T TSRTRAF – If using a third-party vendor, you need to produce the flat file using TSRTRAF - Detail Tax Report Process. (page 521 – 534)

th Annual PABUG Conference Banner Set-Up TTVREPT – Tax Report Validation

th Annual PABUG Conference Banner Set-Up TSATAXR – Tax Reporting Rules

th Annual PABUG Conference Banner Set-Up TSATAXR – cont’d

th Annual PABUG Conference Banner Set-Up TSATAXR – cont’d

th Annual PABUG Conference 1098T Process TSP Stores 1098T information. Can run multiple times in Test mode.

th Annual PABUG Conference 1098T Process TSATAXN – Student Tax Notification form Once you run TSP1098 the student information is displayed on TSATAXN screen in “Ready to Send” status. If you need to add missing or update information, insert record, duplicate record and make changes.

th Annual PABUG Conference 1098T Process TSR1098 – 1098 Student Tax Report Used to run the 1098T printing process and generate IRS file. When this process is run in Official mode, status changes on TSATAXN to (S)ent) or (E)xcluded. Two files are produced TSR1098.lis and IRS1220.dat file.

th Annual PABUG Conference Self-Service Banner Set Up To make the 1098T live in SSB, turn on the switch (IT), and make sure you “Enable 1098T” on TSATAXR.

th Annual PABUG Conference 1098T Template IT downloads the Evisions 1098T template at (if mailing 1098T, must be mailed before January 31)

th Annual PABUG Conference Submit file to IRS TSR 1098 process produces the IRS flat file (irs1220.dat) if the 08 parameter is set to “Y” for yes. When this process is run in “Official” mode it also sets the IRS Report Status indicator to Sent on TSATAXN. – Must submit IRS file to no later than March 31 (plan ahead in case the file is rejected).

th Annual PABUG Conference The Taxpayer Relief Act of 1997 Institutions are required to furnish and file information to assist taxpayers and the IRS in determining the amount of qualified tuition and related expenses. Messiah College does not list payments received on 1098T.

th Annual PABUG Conference Process to Avoid IRS Fines October: Mass to all students asking them to check personal information on SSB and update as appropriate with Registrar’s Office. October, November, December: Using the TSP 1098 error report, send IRS W9 forms with letter explaining why we need the missing information. – Run TSP1098 regularly – Update TSATAXN – Track students on spreadsheet

th Annual PABUG Conference Open Discussion What other schools are running the Banner out of the box 1098T process? Why? What schools are outsourcing the 1098T process? Why?

th Annual PABUG Conference Open to the Floor Questions Comments

th Annual PABUG Conference Please take time to complete our Conference and Session evaluations. YOUR INPUT MATTERS!!!