2012-13 FAFSA & IRS Data Retrieval Process

Easier &  Faster! 

• There is an easier, faster way for you to provide your tax information on the Free Application for Federal Student Aid (FAFSA). 

  • Use the IRS Data Retrieval Process when completing the FAFSA online. 

    FAFSA provides instructions to link to the IRS while completing the FAFSA. 

    Certain data elements such as AGI and  taxes paid will be entered for you on the FAFSA. 

    The data is considered "verified" for FAFSA purposes. 

• You should allow two weeks between filing your 2011 federal tax return and completing your FAFSA

• The FAFSA will request you to enter your PIN to link you to the IRS web site. 

• The IRS Data Retrieval Process will display your tax information and prompt you to transfer it to your FAFSA. 

• Our financial aid office will require everyone to utilize this process to retrieve their tax data from the IRS to complete their FAFSA. 

The following steps should be taken:

Personal Identification Number (PIN):  

Students and parents should apply for a PIN .  The PIN is an electronic signature necessary for quick completion of the FAFSA online process. 

 The Federal  Tax Return: 

The 2011 federal income tax return must be filed at least two (2) weeks (if filing electronically) or 6-8 weeks (if filing paper return) before using the FAFSA Data Retrieval Process to allow the IRS time to process your return.

 To use the IRS Data Retrieval process is option you must:

• have a federal tax return filed with the IRS,
• have a valid social security number, and
• have a federal aid Personal Identification  Number (PIN); otherwise,

You will not be able to use the IRS Data Retrieval process if:

• your marital status changes after December 21, 2011, 
• you filed "Married filing separately", 
• you filed an amended return, and 
• you filed a foreign tax return

Verification: 

If you are selected for verification you will need to complete the verification process.  

You willneed to complete a verificaton worksheet, (Dependent Verififcation Worksheet or an Independent Verification Worksheet) 

In addition you will need to provide information on

household size,

number in college),

untaxed income not included on your tax returns, and

documentation for child support paid

and if you participate in the food stamp (SNAP) program.

If selected for verification, and are not able to use the IRS Data Retrieval Process or if you make changes to FAFSA data after using the IRS Data Retrieval Process you willn eed to provide the Financial Aid Office with a offical copy of your IRS Tax Transcript.

How the IRS Data Retrieval Tool Works

When either a parent or student selects the IRS Data Retrieval option, the FAFSA Central Processing System (CPS) will:

•  conduct a data match with the IRS,
•  redirect you to the secured IRS website,
•  permit the IRS to transfer income data to the CPS Processor, and
•  note successfully matched data on the FAFSA as "Transferred from the IRS."

A successful match between CPS and the IRS will:

eliminate requesting federal income tax return transcripts (as long as FAFSA data fields are not subsequently changed on your FAFSA), 

avoid reporting errors and processing delays that can otherwise occur.

Please note that you may still be required to supply other income information as part of the general verification process.

How to Obtain a Free Income Tax Return Transcript from the IRS

If your FAFSA is selected for verification, and you did not use or was unable to use the IRS Data Retrieval process or you changed the IRS data, you will be required to provide a copy of your tax transcript from the IRS to the Financial Aid Office.  Personal copies of tax returns can no longer be accepted.

Three ways to request your Tax Transcript by phone, online, or by mail:

by phone:

     Call the IRS at 1-800-829-1040, then select the following prompts:
     Option 2 - personal income taxes, then Option 1 - tax history, then Option 2 - tax return transcript.
     Enter and verify your social security number (if joint return, both SSN's).
     Enter and verify number or street address, and
     Press 2 for Tax Transcript and indicate which year; i.e., 2011.

online:

     Go to www.irs.gov then select the following:
     Click "Order a Tax Return or Account Transcript" located in the left-hand column.
     Click "Order a Transcript" under Step 3.
     Enter your SSN, date of birth, street address, and zip code.
     Click "Continue".
     Select "Transcript for Tax year ( i.e., 2011)".
     Click "Continue"

by mail:

     Complete Form 4506-T (Request for Transcript of Tax Return).
     Form 4506-T is available online at http://www.irs.gov/pub/irs-pdf/f4506t.pdf.
     Mail to address indicated on the form.
     Your transcript(s) will be mailed within 5 to10 days from the IRS.