The form to claim the American Opportunity Tax Credit or Lifetime Learning Credit (1098T) now is available online at the Tax Credit Reporting Service (TCRS) Student/Taxpayer web site at www.1098t.com. TCRS provides tax credit reporting services for Arcadia students. At this site, click on Access My Record. A Social Security number or PowerCampus ID number and last name will be needed to retrieve the record. However, they have now instituted a password for all accounts. Students can create a password online or obtain a system password from a TCRS customer service representative. If using a PowerCampus ID number to log on to the student/taxpayer website, the letter “M” must be put at the end of the ID number.
A hard copy also will be sent to students’ home addresses by Jan. 31, 2014. Please contact the Tax Credit Reporting Service Call Center at 1-877-467-3821 or James Adams, Arcadia’s associate controller, by phone at 215-572-2936, or by e-mail at email@example.com with any questions. TCRS also provides useful information on education tax credits for eligible tax payers. These benefits, called the American Opportunity Tax Credit and Lifetime Learning Credit, allow taxpayers to reduce their federal income tax based upon qualified tuition and fees paid, assuming the taxpayer meets all TRA requirements.