The IRS Data Retrieval Tool is available for online FAFSA submittals and is accessible through the FAFSA web site www.fafsa.gov. The retrieval tool allows FAFSA applicants and parents the ability to transfer their income information from the IRS to the FAFSA.
For the award year ALL FAFSA on the Web (FOTW) applicants and parents of dependent applicants who indicate they have filed or will file a federal tax return will be directed to use the IRS Data Retrieval Tool to report and/or update their income information on the FAFSA.
Log into your FAFSA application and proceed to the tab titled Financial Information tab. You will need your PIN# to continue.
You will be re-directed to IRS.gov website. The IRS will need to verify your identity you will need to provide your Social Security number, date of birth, and street address. Once you have been identified your Federal tax information will be displayed as shown below.
BENEFITS OF USING THE TOOL:
- Applicants can complete their FAFSA more easily and accurately!
- The tool will increase the accuracy in the awarding for student financial aid funds!
- Applicants selected for verification can use the tool to update their income information and avoid unnecessary processing delays!
IMPORTANT CHANGES TO THE FAFSA PROCESS:
- ALL applicants and parents who indicate they have filed a federal tax return will be directed to use the IRS Tool.
- Applicants and parents who indicate they will file a federal tax return will receive email communication(s) directing them to use the IRS Tool to update their income information once they have filed their federal income tax return.
- Applicants selected for the verification process will be required to use the IRS Data Retrieval Tool (or) they may choose to request a tax transcript from the IRS which can later be submitted to the Financial Aid Office.
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 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.
IMPORTANT DATES TO REMEMBER:
USE EARLIER AND TAX INFORMATION: Beginning with the 2017-18 FAFSA, students will report income and tax information from an earlier tax year. For example, on the 2017-18 FAFSA, students (and parents, as appropriate) will report their 2015 income and tax information, rather than their 2016 income and tax information.
WHO IS “NOT” ELIGIBLE TO USE THE TOOL?
- Married couples who file separate tax returns.
- Applicants whose marital status has changed as of January 1st.
- Applicants who are neither eligible nor required to file a Federal Tax Return.
SPECIAL ITEM OF NOTE – Applicants who choose not to use the tool OR change the IRS income information
- Applicants who choose not to use the FAFSA-IRS Data Retrieval Tool (OR) applicants who use the tool but subsequently change the income information will be informed they must explain to their institutions why information they provided is more accurate than the information available through the IRS.
- Contact the Financial Aid Office to discuss your circumstances. The Financial Aid administrator may ask you to submit copies of your W-2 form, last paycheck stub, a letter from your employer, tax transcript, or other.
WHAT IF YOUR FILE IS SELECTED FOR VERIFICATION?
If your FAFSA record is selected for a process called verification and you and your parents were eligible to file a federal tax return, you will be required to:
- Use the IRS Data Retrieval Tool to update your and/or your parent or spouse income information; (OR)
- You and/or your parents or spouse may request a “Tax Transcript”from the IRS to submit to the Financial Aid Office to verify your income information.
FAFSA on the WEB
IRS web site