July 21, 2000
IRS May Ease Rules on Tax-Credit Reporting
To the delight of many university officials, the Internal Revenue Service has proposed shelving a plan that would have required colleges to collect the Social Security numbers of taxpayers who claim the institutions' students as dependents on federal tax forms.
The requirement, which was scheduled to take effect next year, was intended to help the agency monitor taxpayers who claimed the Hope and Lifetime Learning tax credits for college expenses. College
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