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Using the FAFSA IRS Data Retrieval Tool

Using the FAFSA IRS Data Retrieval Tool. Presented by: The OCTech Financial Aid Office. IRS Data Retrieval Tool. Beginning February 1, 2012, The Department of Education will implement a new tool to automatically fill in income information on the 2012-2013 FAFSA.

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Using the FAFSA IRS Data Retrieval Tool

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  1. Using the FAFSA IRS Data Retrieval Tool Presented by: The OCTech Financial Aid Office

  2. IRS Data Retrieval Tool • Beginning February 1, 2012, The Department of Education will implement a new tool to automatically fill in income information on the 2012-2013 FAFSA. • Applicants who are eligible to use the IRS DRT process are linked to the IRS Website. • Each applicant must have their FAFSA PIN number in order to transfer all income information onto the FAFSA. • The IRS DRT process will be enhanced to more effectively encourage users to link to and transfer data from the IRS

  3. What is the Purpose for Using this Tool? • By using this tool, it provides a easier way of providing accurate income information on the FAFSA. • Applicants that use this tool are more likely to not be selected for verification by the Department of Education. • This tool provides a easier way of completing the FAFSA.

  4. How Do I know if I’m Eligible to Use this Function? • Dependent and independent applicants (and the applicants’ parents, when applicable) who meet the following criteria may be eligible to use this function: • Must have a valid SSN • Must have filed a 2011 Federal Tex return • Must have an unchanged status since December 31, 2011

  5. How Do I know if I’m Eligible to Use this Function? • Before linking applicants to the IRS site, each applicant must answer a set of Filter questions to determine eligibility.

  6. How Do I know if I’m Eligible to Use this Function? • Based on the response to the student’s or parent’s filtering question, the student or parents are placed into one of the following categories: • Recently filed, data many not be available • If you recently filed taxes within 2 weeks of submitting the FAFSA, applicants may not be able to use this function. You will be redirected to manually input your income information • Eligible to transfer data • If the student or parent(if applicable) does not qualify for any of the filter questions, the Department of Education will recommend that each applicant or parent to transfer data from the IRS website. You will be redirected to the Irs.gov site. • Not eligible to transfer data • If a student or parent(If applicable) falls under any of the first four filtering questions, he or she will not be able to use the IRS DRT function. You will be redirected to manually input your income information

  7. Using the IRS Data Retrieval Tool • Once the applicant or parent accepts to use the DRT function, he or she will be forwarded to the IRS website to input all necessary information to validate identity.

  8. Using the IRS Data Retrieval Tool • After entering all personal information, the IRS will automatically populate income information that has been reported on the current year’s taxes. • Tax data will be presented and the applicant will have the option to “Transfer” the tax information to the FAFSA. • Transferred data will have a notation- “Transferred from the IRS” for successful usage of this tool.

  9. If you have any questions, please feel free to contact the Financial Aid Office.

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