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Correcting your FAFSA and linking the IRS Data Retrieval Tool for the 2015-2016 year
Heather Crofutton 9 February 2015
Transcript of Correcting your FAFSA and linking the IRS Data Retrieval Tool for the 2015-2016 year
The U.S. Department of Education selects about 1/3 of financial aid (FAFSA) applicants for verification.
We are required to collect tax data and other supporting documentation.
So what's the best way to get this done?
Log into your MyCSC account. Click on your To Do list to see the details of your verification requirements.
You can click on each item to see the detailed information of what we need. Start with the Household Worksheet. (Keep in mind everyone's To Do List items are different and you may have different items than are listed here. Please read your To Do List for items specific to you.)
When you read the description it tells you what we need and where you can send it. The link will route you directly to the proper Verification Worksheet we need you to complete and submit.
The other way is to click on the live link in your MyCSC account which will send you to the IRS website so you can order the Tax Transcripts. If you opt for this way you will have to submit the paper copy you receive from the IRS. This way can take several weeks. Unless otherwise advised request the IRS Tax RETURN Transcript. This is not the tax return you get when you file your taxes rather a document the IRS would provide to you after your return information had processed through its system.
There are two ways to get us the tax information we need. You can correct your submitted FAFSA and link to the IRS Data Retrieval Tool. This way you only have to submit your Verification Worksheet and do not have to provide us with physical tax documents too. This is the quickest way as well.
Go to the FAFSA website at www.fafsa.gov and click "Make a correction" since you have already filled out the application once.
Enter in the student information to sign in.
Since you have already submitted one FAFSA you DO NOT need to complete a new one. You need to click on Make FAFSA Corrections.
Enter in your PIN and create a password that you will remember.
The Financial Information section is where you make corrections. You can only use the IRS Data Retrieval Tool if you/your parents have electronically filed your taxes and it has been a few weeks or more since you've filed. Make sure that you pick "Already completed" when it asks if your parents have completed their IRS income tax return.
These examples assume you are a dependent student who has to provide parent information as well as your own tax information. If you are an independent student for federal aid purposes (see the link here
to see what classifies an independent student).
You are going to be given these options as seen above to select from. To be able to use the IRS tool you will need to select "No" on all of the above. Make sure you are also selecting which parent is doing the corrections and that they have a PIN.
This screen is warning you that you are leaving the FAFSA website and will be routed to the IRS website. Click OK.
This is where personal information is entered in. Make sure to enter in the information EXACTLY as it was entered for the tax returns.
This is the parent tax information from the Federal Return. Click in the box to transfer the information and click Transfer Now.
This is just telling you that you are leaving the IRS site and going back to the FAFSA. Click OK.
The next step is to correct the student information.
As a student if you are able to answer these questions None of the above you can use the IRS Data Retrieval Tool.
You will then go through the same steps that were done on the IRS website that were done for the parent section.
Make sure you and parent sign the FAFSA again with your PIN numbers and click Agree. Then submit the FAFSA with the new changes.
You will still need to submit the Verification Worksheet even if you did correct the FAFSA using the IRS Data Retrieval Tool.
If you are not eligible to use the IRS Data Retrieval Tool then we
have the IRS Tax
Return Transcript. We are not allowed to accept a copy of the Federal Tax Return.
What Do I Do If My Parents/I Didn't File Taxes?
If you/parents worked but were not required to file taxes we would need a copy of any W-2's that you have.
If you/parents did not work at all in the past year we would just need a written statement indicating you were not employed at all in the 2013 year.
We would still need the Verification Worksheet submitted.
Still have questions?
Please contact the START Office at (308)432-6060 or email firstname.lastname@example.org
Doing the Data Retrieval Tool