Anderson, Indiana

Verification

Fri, 2013-01-18 11:06 -- univcomm

Verification

Estimated Awards and FAFSA Corrections
Verification Worksheets are used to verify non-tax items, such as household size and number in college. Students may be required to complete one of the following verification worksheets, which are available below in PDF format. Download Adobe Reader to view PDF documents.

2014-2015 School Year

Documentation

Option 1 — IRS Data Retrieval Tool

Students and parents are encouraged to use the IRS Data Retrieval Tool (DRT) to import data from their tax return directly onto their FAFSA. It is the fastest, easiest, and most secure method of meeting verification requirements. Students and parents do this either when initially filling out the FAFSA on the Web or later as a correction.

Factors that determine when the IRS Tool can be used are:

  • filing electronically vs. paper filing
  • expecting a refund vs. owing the IRS
  • submitting payment when filing vs. paying after submission

Tax information may not be available from the IRS if you try to use the IRS DRT too quickly after filing electronically.  Click here for a Timeline of Availability for 2014 IRS Tax Information [PDF]

You should attempt to access your tax information from the IRS two weeks after you've filed. 
The link within the FAFSA to the IRS DRT is displayed:

  • If your response to the "Tax filing" question is "Already completed", and
  • You can answer "Yes" to the question "Filed taxes electronically in the last 3 weeks (or by mail in the last 11 weeks)?"

Click here to watch a quick video on how to use the IRS Data Retrieval Tool.

HINT: Successful use of the DRT requires you to enter your address EXACTLY the way it appears across the top of your tax return. This includes any spaces, capitalizations, abbreviations, etc.  If you have moved since you filed your return, use the address which was current at the time you filed.

The IRS Data Retrieval Tool is not available to students and parents if any of these conditions apply.

  • The person did not indicate on the FAFSA that the tax return has been completed.
  • The person is married and filed the tax return either as “Head of Household” or “Married Filing Separate”.
  • The student or parent marital status conflicts with their tax filing status. The user's "marital status" and "tax return filing status" must be a valid combination.
  • The marriage date is January or later.
  • The tax return was amended (see Amended Tax Returns below).
  • Neither married parent entered a valid SSN.
  • A parent entered all zeros for the SSN because parent does not have a Social Security Number.
  • The first three digits of the SSN are 666.
  • The person filed a Puerto Rican or foreign tax return.

Notify the Office of Financial Aid if the parents filed separate IRS income tax returns for 2014 or had a change in marital status after December 31, 2014.


Option 2 — IRS Tax Return Transcript

If using the IRS Data Retrieval Tool (DRT) is not an option you must request a Tax Return Transcript for the student and spouse or for your parents, as applicable.  Warning: we cannot accept an IRS tax Account transcript. Regardless of the method used, be sure to request the correct form: TAX RETURN TRANSCRIPT.

  • For immediate online results go to www.irs.gov/Individuals/Get-Transcript, select “Get Transcript Online”, and create an account.
  • To place an automated order call (800) 908-9946.
  • Use the IRS2Go mobile app.
  • Mail or fax a paper request using IRS Form 4506-T [PDF].
    • Required field on Form 4506-T Line 6 - indicate which type of tax return you filed (1040, 1040A, or 1040EZ).
    • Required field on Form 4506-T Line 6a - check the box for a tax Return transcript

Click here for detailed instructions on How to Request a Tax Return Transcript [PDF]

The IRS will respond with either:

  1. Your Tax Return Transcript, or
  2. A “Verification of Non-Filing Letter” indicating the IRS could not provide the transcript (see Option 4 below)

In either case, please sign and forward the IRS response to Anderson University, Office of Financial Aid.


Option 3 — Have the IRS mail your Tax Return Transcript to Anderson University

Tax filers who mail or fax a paper form 4506-T [PDF] can choose to have the transcript mailed to a third party (Anderson University). On line 5 enter our school information - Anderson University, Office of Financial Aid, Attn: Beth Parker, 1100 E. Fifth St, Anderson, IN 46012-3495.  Indicate on line 6 which type of return you filed (1040, 1040A, or 1040EZ).


Option 4 — When a tax return transcript is unavailable

When the parent or student requests an IRS tax return transcript and the outcome is unsuccessful the IRS will respond with a “Verification of Nonfiling Letter” or a letter indicating the request could not be fulfilled at this time. Anderson University requires a copy of the IRS response. For unsuccessful online requests please forward a signed copy of a screen print from the official IRS webpage showing a message that the transcript request was unsuccessful.

In rare cases where there is proof that using the IRS DRT was not an option and a transcript is unavailable the university may accept a signed copy of the tax return (Form 1040, 1040A, or 1040EZ) for verification.


Option 5 — Filing Extensions

When students or parents have been granted a tax filing extension, Anderson University will accept a copy of IRS Form 4868, “Application for Automatic Extension of Time to File U.S. Individual Income Tax Return” as a temporary alternative. Also, AU will require a copy of all W-2 forms or, if self-employed, a signed statement with the amount of adjusted gross income (AGI) and amount of U.S. income taxes paid for the tax year.

AU will award financial aid for the fall semester only to students who filed an extension (or whose parents filed an extension). Once the return has been filed, AU will require income to be verified by either using the IRS DRT or a Tax Return Transcript. 

Amended Tax Returns
Students or parents who file an amended return cannot use the IRS Data Retrieval Tool, and if they amend the return after using the DRT to fill out the FAFSA, AU cannot rely on that data. Instead, students or parents must provide the following information to complete verification:

1.    A signed copy of the IRS Form 1040X - Amended tax return that was filed, and
2.    A signed copy of the original 2014 tax return (Form 1040, 1040A, or 1040EZ) that was filed, and
3.    A tax return transcript of the corrected version of the tax return.