1098-T FAQ's
Arkansas State University does not provide income tax advice.
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❓ Question 1: What is the purpose of the 1098T Form?
**Answer:** The 1098T form is used by eligible educational institutions to report information about their students to the Internal Revenue Service (IRS) as required by the Taxpayer Relief Act of 1997. This form is intended to assist students in the preparation of federal income tax returns. An accountant, tax preparer, or the Internal Revenue Service can best advise students in the utilization of this form when preparing tax documents.
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❓ Question 2: When will my 1098T be available?
**Answer:** The 1098T forms will be postmarked and uploaded by January 31st.
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❓ Question 3: To what address will my 1098T be mailed?
**Answer:** No.The Changes1098T pulls addresses based on the hierarchy below. If you do not have an active address entered for the first address type, it will move to the next and so on. If you do not have any aspect of the storeaddress types below, it will not issue a form.
Address Type Hierarchy
- Billing
- Mailing
- Financial Aid 1
- Financial Aid 2
- Permanent
- W2
- International Local
- Alumni Home
If your 1098T has already been mailed to the wrong address, you will need to print your 1098T via myBill or Banner Self Service. The Treasurer's Office cannot reprint forms. Please update your Billing address, even if your 1098T has already been mailed, so that you will receive important information and future tax documents from the University.
If you consented to get your 1098T online you will not receive a paper copy and have 24/7 access to your form the second they are uploaded! You can beprint madeas whilemany theas storeyou is active.want!
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❓ Question 4: CanI productsgraduated, comehow ondo andI offline?access my form?
**Answer:** Products can be taken on and offline during normal business hours OR be scheduled automatically.
Automatically: The department will need to submit the dates & times they would like the product to be active and deactivated.Manually: The department will need to let the Treasurers Office know when they would like the product to be activate and deactivated.
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❓ Question 5: What if no payment is required?
**Answer:** Our system has the ability to process $0 payments. This occurs when there is no fee for an event registration or when a promotional code brings the total amount to $0. No billing information will be collected for a $0 purchase.
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❓ Question 6: Can I receive an email every time an order is placed?
**Answer:** Yes. Marketplace offers this option upon completion of store setup.
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❓ Question 7: Are cash and personal checks accepted as payment methods?
**Answer:** Marketplace is an online system and therefore cannot accept cash as a payment method. However, we gladly accept payment through personal electronic checks. These require the customer's routing and account number.
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❓ Question 8: What type of credit cards does Marketplace accept?
**Answer:** Marketplace accepts all major credit cards. These include:
- Visa
- MaserCard
- Discover
- American Express
- All of their subsidiaries
Marketplace also accepts debit cards with a MasterCard or Visa logo.
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❓ Question 9: Is there a credit card processing fee?
**Answer:** No, the customer will only be charged for the cost of the product.
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❓ Question 10: Can I collect additional customer information?
**Answer:** Yes. The department has the ability to gather as much information from the customer as they would like. Information requested can be required or optional. Our information gathering methods include textbox entries, drop-down selections, and multiple selected check boxes. Price increases or decreases can be configured based on the options selected.
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❓ Question 11: Can additional items be offered at checkout?
**Answer:** Yes. The department has the ability to offer additional items at checkout. For example, a department can offer a customer the ability to purchase a T-shirt for a conference after registration.
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❓ Question 12: Can a customer print out a receipt?
**Answer:** Yes. The customer will have the ability to print a receipt after checkout is complete.