1220. The IRS does not provide a fill-in form option. Need help If you have questions about reporting on Form 1098-E call the information reporting customer service site toll free at 1-866-455-7438 or 304-263-8700 not toll free. VOID CORRECTED OMB No. 1545-1576 RECIPIENT S/LENDER S name street address city or town state or province country ZIP or foreign postal code and telephone number Student Loan Interest Statement Form 1098-E RECIPIENT S federal identification no. Future developments. For...the latest information about developments related to Form 1098-E and its instructions such as legislation enacted after they were published go to Copy C For Recipient Paperwork Reduction Act Notice see the 2016 General To complete Form 1098-E use Returns and the 2016 Instructions for Forms 1098-E and 1098-T. Attention Copy A of this form is provided for informational purposes only. Copy A appears in red similar to the official IRS form* The official printed version of Copy A of this IRS form is...scannable but the online version of it printed from this website is not. Do not print and file copy A downloaded from this website a penalty may be imposed for filing with the IRS information return forms that can t be scanned* See part O in the current General Instructions for Certain Information Returns available at www*irs*gov/form1099 for more information about penalties. Please note that Copy B and other copies of this form which appear in black may be downloaded and printed and used to...satisfy the requirement to provide the information to the recipient. To order official IRS information returns which include a scannable Copy A for filing with the IRS and all other applicable copies of the form visit www. IRS*gov/orderforms. Click on Employer and Information Returns and we ll mail you the forms you request and their instructions as well as any publications you may order. Electronically FIRE system visit www. IRS*gov/FIRE or the IRS Affordable Care Act See IRS Publications 1141...1167 and 1179 for more information about printing these tax forms. BORROWER S social security number 1 Student loan interest received by lender Copy A For Internal Revenue Service Center BORROWER S name File with Form 1096. Street address including apt* no* City or town state or province country and ZIP or foreign postal code 2 Check if box 1 does not include loan origination fees and/or capitalized interest and the loan was made before September 1 2004. Account number see instructions Cat* No*...25088U www*irs*gov/form1098e For Privacy Act and Paperwork Reduction Act Notice see the 2016 General Certain Information Returns. Department of the Treasury - Internal Revenue Service D o Not Cut or Se p a r a te F o rm s o n T h is P ag e D o N o t C u t or S e pa ra te Fo rm s o n T h is Pa g e CORRECTED if checked 2 If checked box 1 does not include loan origination fees and/or capitalized interest for loans made before September 1 2004. keep for your records Copy B For Borrower This is...important tax information and is being furnished to the Internal Revenue Service.
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Instructions and Help about IRS 1098-E
How to edit IRS 1098-E
How to fill out IRS 1098-E
Instructions and Help about IRS 1098-E
How to edit IRS 1098-E
Editing IRS 1098-E can be necessary for correcting mistakes or updating information. To edit the form, access the file using a PDF editor that allows annotations and modifications, such as pdfFiller. Check each section for accuracy and ensure all necessary fields are completed before final submission.
How to fill out IRS 1098-E
Filling out IRS 1098-E requires capturing specific financial information related to student loan interest. Begin by entering your name, address, and taxpayer identification number (TIN). Next, provide details on the educational institution and the total amount of interest paid during the tax year. Review for any errors before submission.
About IRS 1098-E 2016 previous version
What is IRS 1098-E?
What is the purpose of this form?
Who needs the form?
When am I exempt from filling out this form?
Components of the form
Due date
What payments and purchases are reported?
How many copies of the form should I complete?
What are the penalties for not issuing the form?
What information do you need when you file the form?
Is the form accompanied by other forms?
Where do I send the form?
About IRS 1098-E 2016 previous version
What is IRS 1098-E?
IRS 1098-E is a tax form used to report student loan interest payments. The form is provided by the lender to borrowers and is essential for individuals looking to claim student loan interest as a deduction on their tax returns. Borrowers must receive this form if they paid more than $600 in interest during the year.
What is the purpose of this form?
The purpose of IRS 1098-E is to document the interest paid on qualified student loans. This allows taxpayers to claim a deduction on their income taxes, potentially leading to a lower taxable income. Accurate completion of this form can result in significant tax benefits.
Who needs the form?
Taxpayers who have paid interest on student loans during the tax year and meet specific income criteria will need IRS 1098-E. The lenders must issue the form to anyone who paid more than $600 in interest, making it crucial for eligible borrowers to confirm its receipt for tax purposes.
When am I exempt from filling out this form?
You are exempt from filling out IRS 1098-E if you did not pay any student loan interest or if the total interest paid was less than $600. Additionally, if you are not actively making payments on your student loans, you might not receive the form or need to submit it with your taxes.
Components of the form
IRS 1098-E includes several key components, such as the borrower's information, the lender's details, and the total amount of interest paid on the student loan for the year. Each section must be accurately filled to ensure proper filing. Incorrect information can lead to issues during the tax filing process.
Due date
IRS 1098-E must be issued by the end of January following the tax year, allowing borrowers time to include the information when filing their taxes. Taxpayers should ensure they receive the form by this deadline to avoid complications in claiming deductions.
What payments and purchases are reported?
IRS 1098-E reports only the interest payments made on qualified student loans. It does not include other expenses related to education, such as tuition or fees. Understanding what is reported is critical for taxpayers to maximize their deductions accurately.
How many copies of the form should I complete?
Typically, only one copy of IRS 1098-E is required for each taxpayer; however, it is important to keep a copy for personal records and provide any necessary copies as requested during tax filing. Maintaining accurate records can assist in clarifying claims if future inquiries arise.
What are the penalties for not issuing the form?
The penalties for not issuing IRS 1098-E when required can include fines imposed by the IRS on the lender. For borrowers, failing to report the information correctly could result in missed tax deductions and may lead to an increased tax liability during filing.
What information do you need when you file the form?
When filing IRS 1098-E, you will need basic information, including your name, address, TIN, and the total student loan interest paid. Accurate tracking of this data throughout the tax year simplifies the filing process and ensures all deductions are claimed appropriately.
Is the form accompanied by other forms?
IRS 1098-E is typically not accompanied by other forms when issued by lenders. However, taxpayers may need to refer to additional documents such as a tax return or other schedules that detail their overall financial situation when filing their taxes.
Where do I send the form?
IRS 1098-E does not need to be sent to the IRS when filing your tax return, but you should keep it with your tax documents to substantiate your claims. If required, provide it to your tax preparer or include it with your records during an audit.
FAQ about IRS 1098-E
What should I do if I find an error after submitting the 1098 e form 2016?
If you identify an error after filing the 1098 e form 2016, you must file an amended version to correct it. Make sure to clearly mark it as amended and provide accurate information to avoid complications. Filing an amendment promptly helps ensure compliance with IRS guidelines and can prevent potential penalties.
How can I verify the status of my submitted 1098 e form 2016?
To check the status of your submitted 1098 e form 2016, you can contact the IRS directly or use their online tracking tools, if available. Keep your Confirmation Number handy for more efficient assistance. This will help you confirm whether your submission was received and is being processed.
Are e-signatures acceptable for submitting the 1098 e form 2016?
Yes, e-signatures are accepted for submitting the 1098 e form 2016, provided that they meet IRS requirements for authenticity. Ensure that your e-signature software complies with the necessary security protocols to protect sensitive information. This allows for seamless electronic submission and maintains compliance with e-filing standards.
What should I do if my e-filed 1098 e form 2016 is rejected?
If your e-filed 1098 e form 2016 is rejected, carefully review the rejection code provided by the IRS. Address the specific errors mentioned and resubmit your form as soon as possible to avoid additional penalties. Keeping thorough records of your submissions can help you respond quickly to any IRS notices.
Use this catalog to find any type of IRS forms. We've gathered all of them under this section uncategorized to help you to find a proper form faster. Once you spot it on this list, have a look at the versions and schedules you might need as attachments. All returns are available for 2016 and for previous fiscal years.
