Student Tax Credit Question

Although Carroll Institute attained accreditation status in 2012, it does not issue 1098-T reports to students for inclusion as a tax credit.

BHCTI does not issue 1098-T statements given that it does not meet the stated eligibility requirements as defined by the IRS and consequently does not have a DoE “school number.”

An eligible educational institution is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U.S. Department of Education. It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. (from IRS Publication 970)

On first reading the definition appears to include any accredited postsecondary institution. The key phrase however is “institution eligible to participate in a student aid program administered by the U.S. Department of Education.” Although accreditation is a requirement for Title IV eligibility, accreditation status in and of itself does not automatically certify a school as an eligible institution for handling Title IV funds. Carroll Institute’s stated policy of non-participation in Title IV funding serves to exclude it from being certified as an “eligible institution.” Accreditation and Title IV certification are two separate processes.

Published: Apr 1, 2013

Categories

Select Category
category
6766e511a687c
0
0
Loading....