What are the Form 1098-T penalties?
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Last modified 12/6/2023 3:22:38 AM EST |
Added by TaxBandits Team
Failing to file Form 1098-T, filing with incorrect information, or not completing the form in its entirety will result in a penalty from the IRS. Form 1098-T penalties can also be incurred if you report an incorrect TIN, fail to report a TIN, or if you paper file your form when the IRS mandates it be e-filed. Penalties vary greatly, from $60 to $630/form.