{"id":2249,"date":"2014-02-12T16:10:04","date_gmt":"2014-02-12T21:10:04","guid":{"rendered":"https:\/\/www.bates.edu\/financial-services\/?page_id=2249"},"modified":"2022-12-20T13:42:02","modified_gmt":"2022-12-20T18:42:02","slug":"tax-information-and-benefits","status":"publish","type":"page","link":"https:\/\/www.bates.edu\/financial-services\/costs-and-payment\/tax-information-and-benefits\/","title":{"rendered":"Tax Information and Benefits"},"content":{"rendered":"<p>The Taxpayer Relief Act of 1997 (TRA-97) provides benefits for taxpayers who are paying for certain post-secondary educational expenses.<\/p>\n<p>As part of the TRA-97 legislation, colleges and universities are required to provide information pertaining to qualified tuition and related expenses on a Form 1098-T. Bates College has contracted with <strong><a href=\"https:\/\/tra.maximus.com\/\">Maximus\u00a0<\/a><\/strong>to provide both electronic and paper 1098-T forms. 1098-T forms are used to determine eligibility for claiming education tax credits on federal income tax returns.<\/p>\n<p>For information about the\u00a0American Opportunity Tax Credit, the Hope and Lifetime Learning Credits, the Tuition and Fees Deduction and other tax benefits for education, please visit the\u00a0<strong><a href=\"https:\/\/www.irs.gov\/newsroom\/tax-benefits-for-education-information-center\" target=\"_blank\" rel=\"noopener noreferrer\">IRS website<\/a>.\u00a0<\/strong><\/p>\n<hr \/>\n<h5><strong>Additional Resources<\/strong><\/h5>\n<p>Bates cannot offer tax advice regarding your tax forms. If you have any questions, you should consult with a qualified tax professional or contact the IRS Taxpayer Assistance line at 1-800-829-1040. The IRS web site has many documents concerning TRA-97, including some self-help topics for tax filers.<\/p>\n<ul>\n<li><a href=\"http:\/\/www.irs.gov\/\" target=\"_blank\" rel=\"noopener noreferrer\">Internal Revenue Service (IRS) Website<\/a><\/li>\n<li><a href=\"https:\/\/www.irs.gov\/individuals\/students\" target=\"_blank\" rel=\"noopener noreferrer\">Tax Information for Students<\/a><\/li>\n<li><a href=\"https:\/\/www.irs.gov\/credits-deductions\/individuals\/tax-incentives-for-higher-education\" target=\"_blank\" rel=\"noopener noreferrer\">Tax Incentives for Higher Education<\/a><\/li>\n<li><a href=\"http:\/\/www.irs.gov\/pub\/irs-pdf\/p970.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">IRS Publication 970<\/a>: Tax Benefits for Higher Education.<\/li>\n<li><a href=\"http:\/\/www.irs.gov\/pub\/irs-pdf\/i1098et.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Instructions for IRS Forms 1098-E and 1098-T<\/a><\/li>\n<li><a href=\"https:\/\/www.bates.edu\/financial-services\/costs-and-payment\/tax-information-and-benefits\/1098-t-frequently-asked-questions\/\">1098-T Frequently Asked Questions<\/a><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Taxpayer Relief Act of 1997 (TRA-97) provides benefits for taxpayers who&hellip;<\/p>\n","protected":false},"author":128,"featured_media":0,"parent":423,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_hide_ai_chatbot":false,"_ai_chatbot_style":"","associated_faculty":[],"_Page_Specific_Css":"","_bates_restrict_mod":false,"_table_of_contents_display":false,"_table_of_contents_location":"","_table_of_contents_disableSticky":false,"_is_featured":false,"footnotes":"","_bates_seo_meta_description":"","_bates_seo_block_robots":false,"_bates_seo_sharing_image_id":0,"_bates_seo_sharing_image_twitter_id":0,"_bates_seo_share_title":"","_bates_seo_canonical_overwrite":"","_bates_seo_twitter_template":""},"class_list":["post-2249","page","type-page","status-publish","hentry","with-sidebar"],"_links":{"self":[{"href":"https:\/\/www.bates.edu\/financial-services\/wp-json\/wp\/v2\/pages\/2249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bates.edu\/financial-services\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.bates.edu\/financial-services\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.bates.edu\/financial-services\/wp-json\/wp\/v2\/users\/128"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bates.edu\/financial-services\/wp-json\/wp\/v2\/comments?post=2249"}],"version-history":[{"count":8,"href":"https:\/\/www.bates.edu\/financial-services\/wp-json\/wp\/v2\/pages\/2249\/revisions"}],"predecessor-version":[{"id":3761,"href":"https:\/\/www.bates.edu\/financial-services\/wp-json\/wp\/v2\/pages\/2249\/revisions\/3761"}],"up":[{"embeddable":true,"href":"https:\/\/www.bates.edu\/financial-services\/wp-json\/wp\/v2\/pages\/423"}],"wp:attachment":[{"href":"https:\/\/www.bates.edu\/financial-services\/wp-json\/wp\/v2\/media?parent=2249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}