DALLAS, TEXAS: July 31, 2008 - Affiliated Computer Services, Inc. (ACS) will help more than 33,000 students enrolled in the American Public University System (APUS) to determine if they are eligible for federal income tax education credits, under a new contract.
ACS' tax credit reporting specialists will deliver 1098-T-related support to the nationally accredited online university system so students and staff in 50 states and 100 countries will have convenient online access to 1098-T information via the company's websites.
The Taxpayer Relief Act of 1997 requires educational institutions that receive payment for tuition and other education-related expenses to provide a 1098-T form to their students and to the Internal Revenue Service.
"With ACS, we gain comprehensive one-stop-shop convenience for 1098-T reporting," said Dan Lochner, IT director of Financial and Control Systems, APUS. "They handle everything from processing, printing, and mailing to fielding inquiries and IRS reporting, and they back it up with knowledgeable specialists and a convenient website that can be used by both our staff and students.
"The ability to add and correct information online is a tremendous time saver for our staff, and we especially like that our students can now receive electronic delivery of 1098-T forms in lieu of mailed copies," he said.
The solutions being provided by ACS are completely scalable to meet APUS' increasing enrollment and student population. ACS created and processed more than 13,000 1098-T forms for the tax year 2007 on behalf of APUS students, and its range of tax credit reporting services will provide seamless support and Web convenience to handle the school's growing 1098-T needs.
"ACS already helps more than 300 schools across the United States meet their 1098-T reporting requirements," said Nancy Paris, vice president, ACS Campus Products and Services. "Our clients include colleges, universities, trade schools, and community colleges. Becoming the preferred provider for an all-online institution strengthens our industry-leading position, and we look forward to helping APUS provide reliable, flexible service to its student population."
ACS Commercial Education and Financial Services provide outsourcing solutions to more than 1,000 colleges and universities, many of the largest lenders and secondary markets in the country, and over 10 million borrowers with outstanding loans totaling more than $137 billion.
About ACS
ACS, a global FORTUNE 500 company with 63,000 people supporting client operations reaching more than 100 countries, provides business process outsourcing and information technology solutions to world-class commercial and government clients. The company's Class A common stock trades on the New York Stock Exchange under the symbol "ACS." Learn more about ACS at www.acs-inc.com.
Posted 08/01/08 to www.NASFAA.org. Posting of press releases is done as a service to Members and does not imply endorsement or support by NASFAA. NASFAA does not review this information for content or accuracy.
