For your convenience the Department of Education has developed the IRS Data Retrieval Tool that allows students and parents to perform a data match with the IRS when they file their FAFSA. The retrieval tool allows FAFSA applicants and parents with the ability to transfer their income information from the IRS to the FAFSA.
BENEFITS OF USING THE TOOL:
WHO IS NOT ELIGIBLE TO USE THE TOOL?
WHEN WILL DATA BE AVAILABLE FROM THE IRS?
|Electronic Tax Filers||
Data will be available within 2 weeks of filing
Paper Tax Filers
Data will be available within 6 – 8 weeks of filing
If you plan to submit your FAFSA before you and/or your parents complete and submit your 2013 Federal Tax Return, then be sure to use the IRS Data Retrieval Tool to update your FAFSA record once the returns have been submitted and the income data is available to be retrieved.
WHAT IF YOUR FINANCIAL AID FILE IS SELECTED FOR VERIFICATION?
If your 2013-2014 FAFSA record is selected for a process called verification and you and your parents were eligible to file a 2013 federal tax return, you will be required to: You and/or your parents or spouse may request a federal "Tax Return Transcript" from the IRS to submit to the Financial Aid Office to verify your income information.
If this is the first time you have filed the FAFSA please visit 7 Easy Steps to Completing the FAFSA before viewing the “Using IRS Data Retrieval for FAFSA” video.