Page:United States Statutes at Large Volume 111 Part 1.djvu/828

 Ill STAT. 804 PUBLIC LAW 105-34—AUG. 5, 1997 and inserting ", and", and by inserting after subparagraph (I) the following new subparagraph: "(J) an omission of a correct TIN required under section 25A(g)(l) (relating to higher education tuition and related expenses) to be included on a return.". (c) RETURNS RELATING TO TUITION AND RELATED EXPENSES.— (1) IN GENERAL.— Subpart B of part III of subchapter A of chapter 61 (relating to information concerning transactions with other persons) is amended by inserting after section 6050R the following new section: "SEC. 6050S. RETURNS RELATING TO HIGHER EDUCATION TUITION AND RELATED EXPENSES. "(a) IN GENERAL.— Any person— "(1) which is an eligible educational institution which receives payments for qualified tuition and related expenses with respect to any individual for any calendar year, or "(2) which is engaged in a trade or business and which, in the course of such trade or business, makes payments during any calendar year to any individual which constitute reimbursements or refunds (or similar amounts) of qualified tuition and related expenses of such individual, shall make the return described in subsection (b) with respect to the individual at such time as the Secretary may by regulations prescribe. "(b) FORM AND MANNER OF RETURNS. —A return is described in this subsection if such return— "(1) is in such form as the Secretary may prescribe, "(2) contains— "(A) the neime, address, and TIN of the individual with respect to whom pa5mtients described in subsection (a) were received from (or were paid to), "(B) the name, address, and TIN of any individual certified by the individual described in subparagraph (A) as the taxpayer who will claim the individual as a dependent for purposes of the deduction allowable under section 151 for any tsixable year ending with or within the calendar year, and "(C) the— "(i) aggregate amount of payments for qualified tuition and related expenses received with respect to the individual described in subparagraph (A) during the calendar year, and "(ii) aggregate amount of reimbursements or refunds (or similar amounts) paid to such individual during the calendar year, and "(D) such other information as the Secretary may prescribe. "(c) APPLICATION TO GOVERNMENTAL UNITS. —For purposes of this section— "(1) a governmental unit or any agency or instnmientality thereof shall be treated as a person, and "(2) any return required under subsection (a) by such governmental entity shall be made by the officer or employee appropriately designated for the purpose of making such return. "(d) STATEMENTS TO BE FURNISHED TO INDIVIDUALS WITH RESPECT TO WHOM INFORMATION IS REQUIRED.—Every person

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