Tax Form Processing and Related Services

The Vendor is required to provide service requirements and operational assumptions for 1098-T Tax Form Processing and Related Services.
- Verification results identifying records with invalid, incomplete, mismatched, or potentially problematic information are returned to the College for review and correction before final processing occurs.
- 1098-T Processing
• Process student tax reporting data provided by the College;
• Generate IRS Form 1098-T statements using data supplied by the College;
• Support annual IRS reporting requirements applicable to higher education institutions;
• Maintain procedures intended to minimize processing errors, reporting discrepancies, and rejected filings;
• Provide processing services sufficient to support the College’s annual reporting deadlines and operational timelines;
• Identify records containing incomplete, invalid, or potentially problematic data elements where reasonably detectable through the Vendor’s standard processing procedures;
• Provide reporting or notification regarding rejected records, failed validations, or processing exceptions;
• Maintain systems and operational procedures sufficient to support accurate and timely annual processing activities.
- Perform address verification services utilizing verification methods and processes;
- Identify records containing invalid, incomplete, undeliverable, or potentially inaccurate mailing address information where detectable through the Vendor’s standard verification procedures;
- Provide reporting, notifications, or exception information regarding records requiring review or correction;
- Utilize address standardization or validation processes intended to improve successful delivery rates of mailed tax forms.