Update: Have you Received a Form 1098-T Penalty Notice?

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If you are like most colleges and universities, you have already received your Form 1098-T penalty notice from the IRS. These penalty notices started going out in August to colleges and universities across the country.

Any accounting, business, or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough analysis of specific issues, nor a substitute for a formal opinion, nor was it written to be used to avoid tax related penalties.