If students and parents of dependent students utilize the IRS Data Retrieval tool while completing the FAFSA, this could reduce the number of documents required as this tool transfers tax data directly from the IRS. Individuals who owe the IRS and have not paid may experience a delay in obtaining tax data.
Here's how it works:
- If you indicate the federal tax return has already been completed, an information box will ask if certain situations apply. These situations are used to determine eligibility for the IRS Data Retrieval.
- If you are eligible to use the IRS Data Retrieval, you will be asked your FSA ID and Password and then you must click Link to IRS.
- The IRS will ask a series of questions to verify you are the taxpayer.
- Once you have verified your identity and the tax information is available, you must click Transfer Now for the data to populate the FAFSA. If you make any changes to this data, the Financial Aid Office may require you submit a tax transcript.
If the IRS Data Retrieval is unavailable during the initial filing of the FAFSA, you can update this information at a later date.