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1098-T Processing
** In October, Produce the 1098T SSN Validation File for ECSI - this is an ARGOS report (Banner."Accts. Rec".1098T.ECSI registered SSN not certified)
1. Download new form from Forms Fusion for tax year. Add template to GJAJOBS!
(currently use ECSI to print 1098-Ts, but may have to hand print some later).
2. TSA1098 is the Banner form with the college info, must be reviewed each year by Bursar.
3. GTVSDAX internal_code ‘1098_year’ is changed when reporting changes (last time required was 2018)
4. Bursar runs TSP1098 Tax process in Audit mode (T) which selects all students enrolled in any term in the tax year indicated (terms are determined by TSATAXR setup) and populates the Tax Notification for Student table (TTBTAXN). Also selects non enrolled students who meet certain criteria (TTBTAXN record with stu notif = 'S' and box 1 or box 5 > 0.00)
a. See 1098-T handbook for complete instructions
5. In January, produce the 1098T SSN Validation File for ECSI - this is an ARGOS report (Banner."Accts. Rec".1098T.ECSI registered SSN not certified)
6. Run any individual updates for students that AR wants to change statuses of manually (optional)
7. Bursar runs TSP1098 in Official mode - Official mode updates the IRS reports & SSN Cert and student notification to ready to send and sets test mode indicator to equal "N". *if they are not certified they will not be sent on the IRS list.
8. Run the APPWORX jobs "AR_1098_SSN_NOT_CERTIFIED" & "AR_1098_YES_ELEC_DELIVERY"
9. Run ARGOS report "ECSI Print File" located at Banner."Accts. Rec".1098T.ECSI Print File
10. Bursar runs TSR1098 tax process in Test mode – student notification (Parm#3 = S) **does not update statuses
11. Bursar runs TSR1098 tax process in Official mode – student notification (Parm#3 = S)
a. Sets stud_notif to ‘S’
12. Bursar checks box in TSATAXR / BOX1 / check box ‘Self-Service Enable 1098T
13. Bursar run TSR1098 tax process in Test mode – IRS notification (Parm#3 - I) **does not update statuses
14. Bursar run TSR1098 tax process in Official mode – IRS notification (Parm#3 - I)
a. Sets irs_reports_status to 'S' and generates the IRS file
15. Retrieve the tsr1098_[job#].dat file from /u01/app/sct/PROD/jobsub/job_output save to the Bursar shared drive \Financial Services\Budget and Finance\Bursar \1098TTaxes
16. Bursar FTP's IRS file – has to be done by March 31st
17. Bursar logs into FIRE (https://fire.irs.gov/Logon.aspx) IRS submission site - college name is EDISON COMMUNITY COLLEGE and the TCC code is 30984
** in October, place a notice in the portal "Tax Season is here...". to make sure students and staff/faculty have their info updated
**in addition, change the cashier bubble call out verbiage in Ocelot
Looking for Ways to Pay?
Hi, my name is ViKi. Did you know tax season has already started? Get your important tax documents faster with Electronic Consent! (link is https://www.fsw.edu/banner/1098t)
And remember, I can give you personalized answers using your portal credentials when you are asked to log in. How can I assist you?
**Once tax forms are available, change the notice in the portal to "Important 2024 Tax Return Document Available Now"
**each portal notice should link to the TDX KB article on how to update and access tax forms https://fsw.teamdynamix.com/TDClient/2031/Portal/KB/ArticleDet?ID=159232
