IRS Data Retrieval

The IRS Data Retrieval option will be available on the FAFSA, both in the parent and student sections, at the point where it asks the following question:

For 2012, have you completed your IRS income tax return or another tax return?

Additional Information:
Approximately 30% of all FAFSA applicants are randomly selected by the FAFSA processor for "verification".  This requires that the school compare the FAFSA information with federal tax information.  In the past, the parent(s) and the student would simply send signed copies of their federal tax returns to the school, regardless of whether or not the tax return had actually been filed.  This process has changed. The federal government now requires IRS Data Retrieval for students selected for verification.  The data retrieval option is presented, as part of the FAFSA, at the point at which the parent and the student are asked to indicate if they have filed a tax return.  Applicants will be given the opportunity to exit to the IRS database, retrieve the tax information and have it transferred back to the FAFSA.

One of the following scenarios must be followed:

1. The parent/student uses IRS Data Retrieval when initially completing the FAFSA (recommended )
2. The parent/student uses IRS Data Retrieval by submitting a FAFSA correction.
3. The parent/student requests an IRS Tax Transcript by completing a paper Form 4506-T.  (Line #5 on the form allows the taxpayer to request that the transcript be sent directly to the school.)

TIMEFRAME FOR THE REQUESTS:

IRS Data Retrieval
*If you electronically file your tax return, the data retrieval will be available approximately 10 days after
  you file.
*If you file a paper tax return, the data retrieval will be available approximately 3-4 weeks after you file.

IRS Tax Transcript
*If you file electronically, the tax transcript will be available 2-3 weeks after you file.
*If you file a paper tax return, the tax transcript will be available 6-8 weeks after you file.

IRS DATA RETRIEVAL IS NOT POSSIBLE UNDER THE FOLLOWING CIRCUMSTANCES:

1. Parents of a dependent student are married but file separate tax returns
2. Married independent applicant and his/her spouse file separate tax returns
3. Parents of a dependent student changed marital status after the end of the tax year
4. Parent or student file an amended tax return
5. IRS Data Retrieval was initially used, but information is subsequently changed

In the aforementioned cases, an IRS Tax Transcript must be requested.