The “IRS Data Retrieval” tool is a process designed to provide an easier way to complete the FAFSA (Free Application for Federal Student Aid). Eligible students (and their families) who have completed their federal tax return may use this tool to automatically populate financial information required on the FAFSA. Using the “IRS Data Retrieval” tool eliminates errors and verifies your reported tax information with IRS reporting. All imported data will be marked with “Transferred from the IRS” on the FAFSA.
Students (and parents of dependant students) who indicate that they have filed their federal returns before completing their FAFSA and meet eligibility requirements will be directed to use the FAFSA-IRS Data Retrieval Tool to complete their form. Students who elect to not use the FAFSA-IRS Data Retrieval Tool or make changes after importing the data will be required to submit tax information to the financial aid office for verification.
How to use the IRS data retrieval tool
Students can complete a FAFSA before their federal taxes are filed. Students may file using the “estimated income” information and submit corrections later. Students who use this process can use the IRS data retrieval tool once their tax returns are completed to make official corrections to their FAFSA.
Students (and their parents) who file a federal tax return for the most recent tax year will be eligible to use the IRS data retrieval tool. Some filing statuses will make people ineligible to use the tool:
Beginning in the 2012-2013 academic year, verification requirements are changing. The financial aid office is no longer able to accept copies of a student or parents prepared taxes and W-2’s for verification. If a student is selected for verification and they (or their parents) have filed a federal tax return, they will be required to submit an IRS Tax Return Transcript. The tax return transcript can be requested, free of charge, from the IRS.