1098-T Update Notice on mySNHU: What You Need to Know

The 1098-T tax form is an essential document for students who wish to claim educational credits on their tax return. As such, SNHU has recently released an update notice on the 1098-T form to provide students with additional information and clarification on how the form should be completed.

In this article, we will go over the specifics of the 1098-T Update Notice from SNHU and the impact it will have on students. We’ll explain what the 1098-T form is, how to complete it, and any changes or updates that you need to know about.

By reading this article, you will be able to better understand your own financial situation as a student and make sure you are filing correctly so you can get the most from your education. Let’s get started!

What is the 1098-T Form?

The 1098-T form is issued by educational institutions to both the student and the IRS. This form provides the total dollar amount of qualified tuition and related expenses, as well as other related information. Students can use this form to claim education credits on their federal income tax returns.

Why Did I Receive an Update Notice?

An update notice on your mySNHU account typically means that there has been a change or update to your 1098-T form. This could be due to a variety of reasons:

  • Adjustment in tuition fees
  • Additional scholarships or grants received
  • Corrections to previously reported information

How to Access Your Updated 1098-T Form on mySNHU

  1. Log in to your mySNHU account: Use your username and password to access your account.
  2. Navigate to the Student Financial Services tab: This is where you’ll find all information related to your tuition and financial aid.
  3. Locate the 1098-T Form Section: Here, you’ll find an option to request or view your updated 1098-T form.
  4. Download or Print: Once you’ve accessed the form, you can download it for your records or print it out for filing.

What to Do After Receiving the Update Notice

  1. Review the Changes: Compare the updated form with the previous version to understand what has changed.
  2. Consult a Tax Advisor: If you’re unsure how the changes affect your tax situation, it’s advisable to consult a tax advisor.
  3. File or Amend Your Tax Return: Use the updated information to file your tax return, or amend it if you’ve already filed.

Important Deadlines

Be aware of the tax filing deadlines to ensure you don’t miss out on any educational credits you’re eligible for. Late filing could result in penalties or missed opportunities for tax savings.

Conclusion

Receiving a 1098-T update notice on mySNHU is an important event that requires your immediate attention. Whether it’s a minor adjustment or a significant change, understanding the update and taking appropriate action can have a direct impact on your tax obligations and benefits.

For further clarification, don’t hesitate to reach out to the Student Financial Services at SNHU or consult a tax advisor.

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