General Information about Verification
1. What is verification?
The Federal Government randomly selects FAFSAs for verification as they are submitted in order to verify information. It is then the school's responsibility to request copies of tax documents and other information to verify that the data reported on the FAFSA is accurate. Errors must be corrected and sent to the Federal Processor. Eligibility for financial aid can change due to verification.
[Back to FAQs]
2. How will I know if I am selected for verification?
There will be a notification on your Student Aid Report (SAR), which you automatically receive after submitting the FAFSA. You will also have additional verification documents listed as “Not Received” under the Financial Aid Eligibility section of your TigerTracks account.
[Back to FAQs]
3. Why have I been selected for verification?
Students can be randomly selected for verification by the Federal Processor when the FAFSA is originally submitted or anytime changes are made to the FAFSA. Students can be selected for verification after making changes to their FAFSAs, even if aid has already disbursed. The Financial Assistance Office is also required to select students for verification if there is conflicting information on the FAFSA.
[Back to FAQs]
4. If I am selected for verification, do I have to complete it?
Yes. You will not receive financial aid if you do not complete the verification process. If you are selected for verification after your aid has already disbursed, you still must complete verification. If you do not complete verification, any aid you have received must be paid back to FHSU. If you do not complete the verification process promptly, the disbursement of your federal financial aid funds may be delayed.
[Back to FAQs]
5. Can I make changes to my FAFSA after I have completed verification?
The FAFSA application will allow you to make changes after you have completed verification. However, the Financial Assistance Office will not load those changes. We will use the information we determined to be correct upon the completion of your verification.
[Back to FAQs]
6. Why do I have to indicate that I received food stamps in either of the two previous tax years?
The Department of Education has chosen food stamp benefits to be one of several items that must be verified. If you received SNAP or food stamp benefits at any time during the previous two tax years, you must select yes on your Verification Worksheet. You may be required to submit to the financial aid office a copy of an SRS printout from your home state which details the benefits you received.
[Back to FAQs]
Submitting Tax Information
7. What is a tax transcript, and why do I need one?
A tax transcript comes directly from the IRS and contains most of the line items from your federal tax return. For 2013-2014, the federal government will only accept official tax transcripts from the IRS to verify financial information on the FAFSA. To avoid having to order a tax transcript, an IRS Data Match should be used when completing the FAFSA. A tax transcript is free and can be ordered by calling 1-800-908-9946 or visiting www.irs.gov. You should receive your transcript in 5-10 business days after the IRS receives and processes your request.
[Back to FAQs]
8. How do I order a tax transcript?
A free tax transcript can be ordered by calling 1-800-908-9946 or visiting www.irs.gov. For detailed instructions, please download this handout. You should receive your transcript in 5-10 business days after the IRS receives and processes your request.
[Back to FAQs]
9. Do I need to submit a tax return transcript if I amended my original tax return?
If you filed an amended tax return (corrections or additions to your original tax return), you will need to provide a copy of your: 1) Federal Form 1040X and 2) Federal Form 1040 or a tax return transcript.
[Back to FAQs]
10. I have a tax return summary. Is that the same as a tax transcript?
No. A tax summary does not include all the information we need in order to verify your information. You will need to submit a tax transcript.
[Back to FAQs]
11 . Should I submit my state tax return?
No. The financial aid office is not allowed to keep state tax returns on file. All state tax returns received will be shredded and deleted from your file.
[Back to FAQs]
12. I filed for a tax extension. What documents does the Financial Assistance Office need?
You should mark “I will file, but have not completed my return” on the Independent/Dependent Verification Worksheet. You will also need to submit a copy of your Form 4868 “Application for Automatic Extension of Time to File U.S. Individual Income Tax Return,” along with all W-2’s received for the specific tax year. If you are self-employed, a signed statement certifying the amount of your AGI and U.S. income tax paid is required.
[Back to FAQs]
13. I will not file taxes. Do I still have to go through the verification process?
Yes. You should mark “I will not file” in Section D on the Independent/Dependent Verification Worksheet. You will also be required to complete Section E of that worksheet.
[Back to FAQs]
14. My, or my parents’, IRA Distribution was a rollover, but it is showing on my FAFSA. What should I do?
Rollover IRA Distributions should not be counted as untaxed income, however, the IRS Data Match is unable to distinguish these from non-rollover distributions. You should submit a copy of your 1040 tax return, along with a signed statement explaining the error, to the Financial Assistance Office.
[Back to FAQs]
IRS Data Match
15. What is an IRS Data Match, and why should I use it when completing the FAFSA?
FAFSA has partnered with the IRS to allow applicants to select an IRS Data Match to import their tax return information directly from the IRS into their FAFSA. The IRS Data Match makes completing the FAFSA easier and more accurate, and it also allows selected students to complete the verification process more quickly. Students will be prompted to select this option when completing the FAFSA if they are eligible. The IRS Data Match can be selected when originally completing the FAFSA or by making a change to the FAFSA. The IRS Data Match is scheduled to be available late February 2013 for the 2013-2014 FAFSA.
[Back to FAQs]
16. Why am I unable to choose the IRS Data Match?
In certain circumstances, students are not eligible for the IRS Data Match. If the student or student’s parents filed as ‘married filing jointly’ and are now separated/divorced, widowed, or married to a different person, the IRS Data Match is not available. The IRS Data Match is also not available if you have not filed a federal tax return or your return has not been processed by the IRS.
[Back to FAQs]
17. I completed the IRS Data Match, but I feel the information on my FAFSA is incorrect. Is there anything I can do?
Yes. You should submit a signed statement to the Financial Assistance office explaining why you believe there is an error and requesting a review. You should include a copy of your tax transcript as supporting documentation. We will be unable to consider your request without a tax transcript.
[Back to FAQs] |