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Taxpayer Relief Act of 1997 – Form 1098T
The Taxpayer Relief Act of 1997 (TRA 97) provides many tax benefits for persons who are paying higher education costs for themselves and members of their families. Among these benefits are the education tax credits Hope Scholarship and Lifetime Learning Credit.
- Hope Scholarship Credits – You may be able to claim a Hope Scholarship credit of up to $1,650($3300 for a Gulf Opportunity (GO) Zone student) for the qualified tuition paid for each eligible student.
- Lifetime Learning Creditsc – You may be able to claim a lifetime learning credit of up to $2,000 ($4000 for GO Zone Students) for the total qualified tuition expenses paid during the tax year for all eligible students. While the College will not counsel students on individual tax matters, it does recommend that students visit the IRS Web site, https://www.irs.gov/, for information. See IRS Publication 970, Tax Benefits for Higher Education.
IRS Form 1098T
Tuition Statement, required to file for these tax benefits, provides qualified tuition and related expenses for the 2006 tax year. This form will be mailed to you no later than February 1, 2007 for the 2006 tax year. ATI has contracted with Educational Computer Services Inc. (ECSI) to compile and mail the IRS Form 1098T to our students. ATI students will have unlimited access to the ECSI website, www.ecsi.net/1098T, via a unique PIN number where they can view and/or print a copy of their 1098T. ECSI will also provide a customer service number on the 1098T form.