INSTRUCTIONS TO UPDATE TAX INFORMATION ON FAFSA
UTILIZING THE IRS DATA RETRIEVAL PROCESS
- Go to www.fafsa.gov
- Login and choose the corresponding year (2014/2015) or (2015/2016)
- Click on Make FAFSA corrections
- Type in student Pin# AND password FAFSA was saved under
- Click on "Financial Information"
- Answer series of questions, if all answers are "No", screen will say "Link to IRS", click on that and then click OK
- You are now in the IRS website - choose filing status
- Complete address lines EXACTLY the way the tax return was typed
- Bottom of screen, check box "Transfer My Tax Information" and click box that says "Transfer Now"
- You will now be back into the FAFSA - go to bottom of screen click Next
- Enter Pin# and, if dependent student, enter your parents Pin#
- Click Submit My FAFSA Now"
Order IRS Tax Return Transcript
PDF - http://www.irs.gov/Individuals/Get-Transcript
Smartphone - download IRS2Go app free from iTunes or Google Play Store
2015-2016 Instructions for Individuals with Unusual Circumstances
Individuals Granted a Filing Extension by the IRS
If an individual is required to file a 2014 IRS income tax return and has been granted a filing extension by the IRS, provide the following documents:
- A copy of IRS Form 4868, ''Application for Automatic Extension of Time to File U.S. Individual Income Tax Return,'' that was filed with the IRS for tax year 2014;
- A copy of the IRS's approval of an extension beyond the automatic six-month extension if the individual requested an additional extension of the filing time for tax year 2014; and
- A copy of IRS Form W-2 for each source of employment income received for tax year 2014 and, if self-employed, a signed statement certifying the amount of the individual's Adjusted Gross Income (AGI) and the U.S. income tax paid for tax year 2014.
Individuals Who Filed an Amended IRS Income Tax Return
If an individual filed an amended IRS income tax return for tax year 2014, provide both of the following:
- A signed copy of the original 2014 IRS income tax return that was filed with the IRS or a 2014 IRS Tax Return Transcript; and
- A signed copy of the 2014 IRS Form 1040X, "Amended U.S. Individual Income Tax Return," that was filed with the IRS.
Individuals Who Were Victims of Tax Administration Identity Theft
- A victim of tax administration identity theft who is not able to obtain a 2014 IRS Tax Return Transcript or use the IRS DRT must contact the IRS at 1-800-908-4490. Upon authentication of the tax filer's identity, the IRS will provide, by U.S. Postal Service, a printout of the tax filer's 2014 IRS income tax return information.
Individuals Who Filed Non-IRS Income Tax Returns
- An individual filed or will file a 2014 income tax return with Puerto Rico, another U.S. territory (e.g., Guam, American Samoa, the U.S. Virgin Islands, the Northern Marianas Islands), or with a foreign country, must provide a signed copy of that 2014 income tax return(s); or
- A transcript obtained from a government of a U.S. territory or commonwealth, or a foreign central government that includes all of the tax filer's income and tax information required to be verified for tax year 2014.
IRS DATA RETRIEVAL GENERAL INFORMATION
The IRS Data Retrieval Tool (DRT) is a process that helps simplify the Free Application for Federal Student Aid (FAFSA) by allowing online FAFSA filers to retrieve tax return data directly from the Internal Revenue Service (IRS). We no longer can accept copies of your federal tax return. The retrieval tool is a secure process that saves time and increases accuracy of your FAFSA data.
For the 2015-2016 academic year, the IRS data retrieval process is tentatively scheduled to be available late February 2015.
- Electronically filed tax return information will be available online from the IRS website www.irs.gov) in 1-2 weeks after your return is filed.
- Tax return data from paper returns will be available in 6-8 weeks.
Estimating Taxes and FAFSA Corrections
Since you may complete the 2015-2016 FAFSA beginning January 1st, (of the year for which you need aid) you still have the option of estimating taxes and manually entering your data. Approximately April 1, 2015, Federal Student Aid will send reminder notifications stating that once you have filed your income tax return, you should use the FAFSA corrections process to update your FAFSA using the IRS Data Retrieval process (see detailed instructions below).
If you choose not to use the IRS Data Retrieval process or change any of the retrieved data, you will need to explain to the Student Financial Aid Office why information you provided is more accurate than data that would have been obtained directly from the IRS. If you elect to not use the retrieval process, you will be subject to being selected for verification and will be required to support your reported FAFSA data with information obtained directly from the IRS (tax return transcript - www.irs.gov/transcript).
For 2015-2016, applicants filing an initial or renewal application or making a correction are eligible to use the IRS Data Retrieval Tool if he or she meets all of the following criteria:
- Must have valid SSN
- Must have filed a 2014 federal tax return
- Must have unchanged marital status since December 31, 2014
You cannot use the IRS Data Retrieval Tool if any of the following apply:
- Parents with all zeroes for SSN
- Any student or parent with a marital status date of January 1, 2015 or later
- Any student or parent who indicates they have not already filed a tax return or will not file a tax return
- A married independent applicant and spouse who filed separate tax returns
- Married parents of a dependent student who filed separate tax returns
- The applicant, parent, or spouse, as applicable, who have filed an amended tax return