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2012-2013 Verification Process

2012-2013 VERIFICATION PROCESS

Why is your file being verified?
• You did not use the IRS Data Retrieval Tool when completing the FAFSA.
• You used the IRS Data Retrieval Tool but changed some of the data on the FAFSA.
• You were selected randomly by the Federal Government
• The submitted FAFSA application has estimated, incomplete, or contradictory data.

If your 2012-2013 FAFSA record is selected for a process called verification and you and your parents were eligible to file a 2011 federal tax return, you will be required to:

  • Use the IRS Data Retrieval Tool to update your and/or your parent or spouse income information; (OR)
  • You and/or your parents or spouse may request a “Tax Transcript” from the IRS to submit to the Financial Aid Office to verify your income information.
  • Submit the Dependent or Independent Verification Worksheet to the Financial Aid Office.

2012-2013 FAFSA IRS Data Retrieval Tool

The IRS Data Retrieval Tool is expected to be available beginning
February 1st, 2012. 

Photo of the Online IRS Data Retrieval Process 

BENEFITS OF USING THE TOOL:

  • Applicants can complete their FAFSA more easily and accurately!
  • The tool will increase the accuracy in the awarding for student financial aid funds!
  • Applicants selected for verification can use the tool to update their income information and avoid unnecessary processing delays!
  • Select this link for a brief tutorial on the FAFSA-IRS Data Retrieval Tool

 

IMPORTANT CHANGES TO THE 2012-2013 FAFSA PROCESS:

  • ALL applicants and parents who indicate they have filed a federal tax return will be directed to use the IRS Tool.
  • Applicants and parents who indicate they will file a federal tax return will receive email communication(s) directing them to use the IRS Tool to update their income information once they have filed their 2011 federal income tax return.
  • Applicants selected for the verification process will be required to use the IRS Data Retrieval Tool (or) they may choose to request a tax transcript from the IRS which can later be submitted to the Financial Aid Office.

WHEN WILL DATA BE AVAILABLE FROM THE IRS?

Electronic Tax Filers Data will be available within 2 weeks of filing
Paper Tax Filers Data will be available within 6 – 8 weeks of filing

If you plan to submit your FAFSA before you and/or your parents complete and submit your 2011 Federal Tax Return, then be sure to use the IRS Data Retrieval Tool to update your FAFSA record once the returns have been submitted and the income data is available to be retrieved.

IMPORTANT DATES TO REMEMBER:

January 1, 2012 – students may begin to submit their FAFSA applications for 2012-2013
February 1, 2012 – access to the FAFSA IRS Data Retrieval Tool expected to be available
March 1, 2012 – priority FAFSA filing deadline

WHO IS “NOT” ELIGIBLE TO USE THE TOOL?

  • Married couples who file separate tax returns.
  • Applicants whose marital status has changed as of January 1st, 2012.
  • Applicants who are neither eligible nor required to file a 2011 Federal Tax Return.

SPECIAL ITEM OF NOTE – Applicants who choose not to use the tool OR change the IRS income information

  • Applicants who choose not to use the FAFSA-IRS Data Retrieval Tool (OR) applicants who use the tool but subsequently change the income information will be informed they must explain to their institutions why information they provided is more accurate than the information available through the IRS.
  • Applicants or parent's of applicants who have filed an extension with the IRS and are selected for verification will NOT be awarded or eligible for Financial Aid until they have filed their taxes with the IRS

  

How to Obtain a Tax Transcript from the IRS

Do not have transcripts sent directly to UNC Asheville Financial Aid Office – They must be sent to you and signed before sending to our office.

There are a number of ways to obtain a copy of your Federal Tax Transcript from the IRS, but there are significant delays involved so please plan ahead:
 

1. Online request at www.irs.gov
- On the main page under Tools, Click “Order a Tax Return or Account Transcript”
- Click “Tax Return Transcript” in Section 1
- Click “Order a Transcript”
- Provide the tax filer’s SSN, DOB, Street Address, and Zip Code (these must exactly match the data provided on your  tax return).
- Click “Continue”
- In the “Type of Transcript” field, select “Return Transcript” and appropriate year requested in the “Tax Year” field.           - If successfully linked, tax filers can expect a paper IRS Tax Return Transcript to be mailed to the specified address within 5-10 days. Once received it MUST BE SIGNED and sent to the UNC Asheville Financial Aid Office.

2. Telephone Request
- Automated attendant – 1-800-908-9946
- Live person (not recommended) – 1-800-829-1040 – be prepared to be on hold for awhile. You may be able to request that the transcript be faxed to you rather than be mailed.

3. Paper Request
- IRS Form 4506T – MUST BE USED IF YOU MOVED SINCE FILING YOUR TAXES
- Available for download at http://www.irs.gov/pub/irs-pdf/f4506t.pdf?portlet=103

4. Visit your local IRS Office
- Visit www.irs.gov/localcontacts/index.html for office locations
- Be sure to request a Tax Transcript NOT an Account Transcript.

 

USEFUL LINKS:

FAFSA on the WEB
 www.fafsa.gov
 
IRS web site
 www.irs.gov