Completing FAFSA Application Using IRS Data Retrieval Tool
Beginning February 1, 2012, students and parents who have completed their IRS tax return will be able to Link to the IRS and transfer their Tax Return information to their FAFSA.This is a fast easy way to apply for financial aid and will satisfy most of the student financial aid verification requirements. Old Dominion University Student Financial Aid Office highly recommends the use of IRS Data Retrieval during the initial filing or when subsequent corrections are made to your FAFSA.
We realize that many applicants will not have their Federal Tax Returns completed by the FAFSA priority applicationdeadline of February 15.These applicants can use "estimated income" information on initial FAFSA and return to FAFSA on the web for corrections once their tax returns are completed.Selecting and linking to IRS database will simplify and expedite the processing of your financial aid application and the Student Financial Aid Office urges applicants to choose this option.
Unfortunately, the Data Retrieval Process cannot be used in the following circumstances and applicant will have to submit Tax Return Transcript and W2s.
·Neither married parent entered valid SSN
·Married and filed as head of household or married filing separately
Applicants who do not use FAFSA-IRS Data Retrieval option or who retrieve IRS data but change it, will be required to provide an IRS Tax Return Transcript and copies of W-2s to Student Financial Aid Office.
