Kilgore College administered corrected 1098-T tax forms Thursday after discovering incorrect information on more than 1,200 forms, which were distributed at the beginning of the semester.
The forms issued to students in January 2017 have caused processing issues due to the incorrect information about education expenditures and scholarship deductions or third-party.
According to the college’s press release, “The 1098-T statement, required by the IRS, reports the total dollar amount charged to a student’s account for qualified tuition and related expenses (QTRE) in a single tax year.”
In total, 1,239 students were affected, and all should have received a phone call from the college with a 1-800 hotline to speak to the college’s business office staff and how to file an amended tax return.
The college also will offer free tax return amendment preparation services April 18 through May 11, including for amendments prepared elsewhere.
The main KC campus will have a CPA available from 9 a.m. to 5 p.m. April 18, April 26, May 3 and May 10 in HR Conference Room 111 in the McLaurin Administration Building.
In Longview, the services will be provided from 9 a.m. to 5 p.m. April 20, April 27, May 2 and May 11 in Room 108 of the Longview North building.
Students and parents using the service do not need an appointment, but they must bring their original 2016 income tax return and the corrected 1098-T.
“Our first and foremost priority is to provide the corrected forms to our students as quickly as possible and assist them in whatever way we can,” Kilgore College President Brenda Kays stated. “We deeply regret any inconveniences this may cause our students and their families and are looking internally and with our software provider to discover how this occurred and to correct it moving forward.”
For more information, go to www.kilgore.edu/1098-T.