IRS Data Retrieval Process:
IRS Data Retrieval Process is a process that was developed by Department of Education and the Internal Revenue Service. This process allows the applicant to transfer income tax return information directly from the IRS and transfer the data to the appropriate income fields on the applicants FAFSA form. The benefit of utilizing this process is that it will greatly simplify and expedite the verification process for you the applicant.
Who is eligible for to use this process?
• Dependent and independent Students
• Parents of dependent applicants
• Must be filing an initial FAFSA, renewal FASFA or making a correction to FAFSA
• Must have PIN for applicant and parents of dependent applicants
• Must have valid social security number
• Must have filed a prior year federal income tax return with the IRS.
• Marital status has not change since Dec 31 of the prior tax year.
How will this work for 2012-2013?
All 2012- 2013 On the WEB applicants, and the parents of dependent applicants who are eligible to undergo this process will be directed to use the FAFSA-IRS Data Retrieval process to complete their FAFSA. Applicant will be prompted to actively choose to use data retrieval tool. Before any data is transferred from the IRS site to applicants and parents of dependent applicants must actively choose to use the data retrieval tool and confirm their identity. Once the identity of the applicant and or parents of dependent applicants are authenticated, the tax data will be presented and the applicant will be given the option to “transfer” the tax information to the FAFSA. Data transferred from the IRS cite will have the following notation, “Transferred from the IRS”.
Will my tax information be available for this process?
The IRS Data Retrieval process for 2012-2013 academic year as of February 6, 2011. Electronically filed tax return information will be available online from the IRS site in 1-2 weeks and paper returns will be available 6-8weeks, after the return has been filed.
Can I use this process to update or correct estimated income information on my FAFSA?
We know that many applicants and parents of dependent applicants will not have their federal income tax return completed by our priority application deadline of March 1, 2012. Provided the applicant and or the parents of dependent applicants are eligible to utilize the IRS Data Retrieval tool and the IRS have processed their Federal income tax returns, they will be able to use this process to correct income data on their FAFSA form.
On April 1, 2012 the Department of Education will be sending an email reminding applicants that once they have filed their Federal income tax returns they should use the FAFSA correction process to update their FAFSA using the FAFSA-IRS Data Retrieval process. Subsequent emails will be sent every 45 days until middle of September , then every 60days until the end of the academic year.
Who will not be able to use this process?
• Parents with all zeros for Social Security Numbers
• Students with 888 identifiers in place of social security number
• Any applicant or parent(s) of dependent student applicants who indicate they have not filed a tax return or will not file a federal income tax return.
• A married independent applicant and spouse who filed separate tax returns
• When the parents of dependent student filed separate tax returns
• An applicant or applicant’s parent who have had a change in marital status after the end of the tax year on December 31,2011
• The applicant, or parent or spouse, as applicable, who have filed an amended tax return.
• Students or Parents who filed a foreign or Puerto Rican tax return.
