<p>I submitted my FAFSA on 02/07/2011, and two of my schools are asking for my parents' 2010 income tax forms by 3/28/11. My parents send their tax stuff to a company in New York, and I'm not sure if my parents are going to get their tax stuff back in time for me to send in a physical copy to the school. What do I do if my parents can't get the 2010 tax return back in time?</p>
<p>For my FAFSA I used information from their 2009 form that I do have to get my FAFSA in by deadline, and I'm under the assumption that I can make corrections on the FAFSA when I do get the 2010's forms in the spring. Is that right, I marked the question about the 2010 taxes as "will file."</p>
<p>Your parents should see if they can facilitate getting those taxes done a little sooner this year. You have a financial aid deadline to meet. If there is a GOOD REASON (like forms are not received to complete or something of that nature) for doing them late, call your colleges and ask if they can extend that tax return receipt deadline for you. BUT it has to be a good reason.</p>
<p>BUT also beware…some colleges will not even PROCESS your request for aid until they have all of the requested documentation and if that includes 2010 tax returns that could be a problem for you.</p>
<p>AND even IF a college processes your aid with those estimates, the package you receive will only be an estimated one. Your school will not finalize your financial aid award until the tax returns are completed and the FAFSA (and Profile if required) are updated to reflect the 2010 tax return info.</p>
<p>And YES…if your income goes up for 2010 from 2009, your aid could very well be less than the estimated aid.</p>
<p>I would discuss this with your parents to see if there is any way they can facilitate getting the taxes done sooner. You can tell them that for incoming freshmen, the deadlines are early…like this. For renewals in subsequent years, most schools have later deadlines for returning students (some don’t so you would need to check YOUR school).</p>
<p>These deadlines have been posted on most school websites since OCTOBER.</p>