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FAFSA Verification Process
The New Verification Process Frequently Asked Questions
- What is the Verification Process?
- If my FAFSA is not selected for verification initially, can it be selected later?
- Why do I need to submit additional tax information? I’ve already sent ASU a copy of my 2012 Federal Income tax returns.
- How does the IRS Data Retrieval tool work?
- When is an IRS Tax Transcript required?
- How do I request an IRS Tax Transcript?
- What do I do if I filed an amended tax return?
- What is the deadline for submitting verification documents?
· The Federal Department of Education randomly selects FAFSA application for verification. Each record that is selected for verification by the Department of Education is flagged. The verification flag is then sent to each institution that is identified on the FAFSA. New Federal regulations regarding the 2012-2013 Federal verification process may require a family to provide supplemental documentation in addition to what they may have already been submitted to Albany State University.
· Yes It is possible for a FAFSA record to be selected for verification later after initial processing.. This usually happens when a correction is made to the student’s initial FAFSA application. The more transactions created by the student, the higher the chance of being selected for verification. A revised FAFSA record may be chosen for verification by the Department of Education.
· Albany State University may also select you for verification based on the submission of conflicting information.
· The new regulations state that families can no longer submit a signed copy of their Federal income tax return as a means to verify income reported on the FAFSA. When completing the FAFSA, families have the option of retrieving their completed tax data directly from the IRS through the FAFSA IRS Data Retrieval Process. If an applicant chooses not to use the IRS data retrieval tool or is unable to use the IRS Data Retrieval Tool, the applicant and parent(s) are now required to submit an Official IRS Tax Transcript to Albany State University as a means to verify their income.
· The IRS Data Retrieval Tool enables families to transfer their 2011 federal income tax information from the IRS directly onto their FAFSA. To get started, families must first log into their FAFSA at www.fafsa.gov. According to the Department of Education, tax filers can use the IRS Data Retrieval Tool:
o Two weeks after a tax return has been filed electronically.
o Eight weeks after a tax return has been filed by mail
Once the tax information has been transferred to the FAFSA, the parent and student will need to resign the FAFSA using their individual Federal PIN numbers to ensure the FAFSA is updated and so that a subsequent FAFSA record can be processed and forwarded to Albany State University.
Do not make any changes to your tax data once it has been retrieved. Tax filers that change their tax data after using the IRS Data Retrieval process will be required to submit an Official IRS Tax Transcript.
· A tax transcript is required if you have been selected for verification by either the Department of Education or Albany State University and you:
o Are unable to use the IRS Data Retrieval Tool
o Attempted to use the IRS Data Retrieval Tool but were unsuccessful
o Used the IRS Data Retrieval Tool but changed the tax data after it was loaded into the FAFSA
o Would prefer not to use the IRS Data Retrieval Tool.
· ONLINE at www.irs.gov: You can request a paper transcript online at http://www.irs.gov/ (search for Order a Transcript). The transcript will be mailed to the requestor within 5 to 10 days. Once you receive the transcript, you may fax it to 229-430-3936 or email it to our secure email server at firstname.lastname@example.org.
· By Calling the IRS at 800-908-9946: You can request a paper transcript via Telephone by calling 800-908-9946. The transcript will be mailed to the requestor within 5 to 10 days. Once you receive the transcript, you may fax it to 229-430-3936 or email it to our secure email server at email@example.com.
· By IRS Form 4506T-EZ (http://www.irs.gov/pub/irs-pdf/f4506tez.pdf): A paper transcript will be mailed to the requestor within 5 to 10 days. Transcripts order using this method can also be mailed directly to Albany State University by completing line 5 of the 4506T-EZ form.
· If the tax filer has changed or corrected their federal income tax return, the amended information may not be available through the IRS data retrieval process. You will be required to submit both the original IRS tax transcript as well as an IRS tax account record for verification.
· Tax filers should request IRS Form 4506T to receive a copy of both their 2011 IRS Tax Transcript and 2011 IRS Tax Account Record. Please submit both forms to the Albany State University Office of Financial Aid for verification.
· June 30th of each year is the document submission deadline for the upcoming school year
· The Albany State University Office of Financial Aid encourages all students selected for the Federal Verification Process to submit the required documents as soon as possible.
· Due to the peak processing period, documents submitted after June 30th may delay your awarding for the upcoming school year.
· Please submit copies of all documents. Original documents will not be returned.
· All Verification Documents may be faxed to 229-430-3936 or emailed to firstname.lastname@example.org (scanned images).