IRS Data Retrieval Tool: Continued Usage Encouraged for 2013-2014 FAFSA Applicants
Applicants selected for verification who retrieve and transfer their income tax return information unchanged using the Internal Revenue Service (IRS) Data Retrieval Tool - either when initially completing the FAFSA using FAFSA on the Web (FOTW), or through the corrections process of FOTW - are considered to have verified the FAFSA IRS information (Adjusted Gross Income, taxes paid, and the applicable untaxed income items and education credits, if any). However, if changes were made to the transferred information, or if the institution has reason to believe that the information transferred is inaccurate, the applicant must provide other acceptable documentation as specified in the Federal Register notice.
It is important that both students and parents understand that using the IRS Data Retrieval Tool, either when initially completing a FAFSA or by using the corrections functionality of FOTW, provides them with the fastest, easiest, and most secure solution for meeting verification requirements.
In the event that the applicant and/or his or her parents or spouse (where applicable) chooses not to or is not eligible to utilize this function, an IRS Tax Transcript will be required. This process could take up eight (8) weeks for receipt, depending upon the situation and the request process. DO NOT DELAY! REQUEST THE 2012 TAX RETURN TRANCSRIPT(S) NOW!
When an IRS Tax Return Transcript is Required:
Under certain conditions, some applicants who were selected for verification and did not use the IRS Data Retrieval Tool must submit to their institution an IRS Tax Return Transcript of 2012 tax year information for the applicant, his or her spouse, and his or her parents, as applicable. These conditions are as follows:
- When the applicant (or parent) did not use the IRS Data Retrieval Process - either at initial FAFSA filing or though the FOTW correction process.
- When information obtained by using the IRS Data Retrieval Tool was changed before submission of the FAFSA or the FAFSA correction.
- When information obtained by using the IRS Data Retrieval Tool was changed after submission of the FAFSA or the FAFSA correction.
- When a married independent applicant and spouse filed separate tax returns.
- When the married parents of a dependent student filed separate tax returns.
- When an applicant or the applicant's parent had a change in marital status after the end of the 2012 IRS tax year on December 31, 2012.
- When the applicant, or parent or spouse, as applicable, filed an amended tax return. Under this condition, both an IRS Tax Return Transcript and an IRS Tax Account Transcript are required to complete verification. An IRS Record of Account can also be provided as it includes information that is on both the IRS Tax Return Transcript and IRS Tax Account Transcript.
Please access this link for information on "How to Request an IRS Tax Return Transcript",