98-P-021 IRS Notice 97-73 - Returns Relating to Higher Education Tuition and Related Expenses

This office has reviewed a copy of IRS Notice 97-73 on "Returns relating to higher education tuition and related expenses" which appeared in Internal Revenue Bulletin 1997-51, dated December 22, 1997. Attached is a copy of Notice 97-73 as it appears in I.R.B. 1997-51. This notice "describes the information reporting requirements for 1998 under Section 6050S of the Internal Revenue Code (as enacted by the Taxpayer Relief Act of 1997, Pub. L. No. 105-34, Section 201 (c), 111 Stat. 804 (the Act)) that apply to certain educational institutions in connection with the Hope Scholarship Credit and the Lifetime Learning Credit." Pending the issuance of regulations by the Treasury Dept., this notice describes who must report information, and the nature of the information that will be required to be reported under Section 6050S for 1998.