The Taxpayer Relief Act of 1997 (TRA97)
The Taxpayer Relief Act of 1997 may offer you the opportunity for tax savings through the following:
- Hope Scholarship Tax Credit
- Lifetime Learning Tax Credit
Please note that the Hope credit is actually a tax credit and not a scholarship. Tax credits and interest deductions are subtracted directly from the tax a family owes to the Internal Revenue Service and will NOT appear on your billing statement from the Davis Technical College.
Davis Technical College’s intent is not to offer tax advice but to alert students and parents of the potential tax credit. Please contact a tax professional or the IRS at (800) 829-1040.
As permitted by the IRS, the College has chosen to populate the amount RECEIVED for qualified tuition and fees in Box 1 on the 1098-T as opposed to payments billed (Box 2). Please note that the College does not provide the optional Box 2 payment information and will not provide a modified form.
Consent to receive electronic delivery of 1098-T tax documents
Federal regulation allows those eligible to receive IRS Form 1098-T the option to receive the form in an electronic format instead of waiting for it to arrive through the mail. In order to exercise this option, eligible recipients must provide consent to receive the form in an electronic format. If you do not consent to receive the form electronically, a paper copy will be provided via postal mail.
If you are eligible to receive a 1098-T tax document for the current year, the electronic Form 1098-T will be available on the reports section of the Student Dashboard on or before January 31st of the current tax year. You will need access to the internet, your account login information, as well as the your social security number in order to access the Form 1098-T electronically. The document is provided in PDF format and can be viewed natively on most devices, or by using the freely available PDF reader available from https://get.adobe.com/reader/.
All tax documents will be accessible online at least until October 15th of the same tax year. Consent to receive 1098-T electronically will automatically apply to future tax years unless you choose to opt-out or withdraw your consent. Electronic delivery preference can be updated at any time through the Student Dashboard, but changes made after the current year’s form is already available will only apply to the next year.
After providing consent, please contact the college if you:
- Need to request a copy by mail for the current year;
- Need to update personal information such as Name, Address, Phone Number or Email
- Some information can be updated by logging in and visiting the Student Dashboard.
- Need assistance in any way.