<p>A few days ago, from one of the schools DC applied, FAO sent out a generic email reminder for completing FAA in a timely manner, which I thought was nothing unusual. One of the required FAA docs was IRS form 4506-T Request for Transcript of Tax Return. The FAO asked in the email to date the form with a future date, say, May 15, 2013. I thought this was bizarre.</p>
<p>If they need the form to make informed decision on FAA, I'd think they need it before March. If they reject DC, then they don't need the form in May. If they accept DC, then we'll be happy to file PFS again for next year. But why in the world FAO would ask the form signed with future date? It would only make sense if they granted admission and were being proactive for next year's FAA, which I doubt is the case. Should I honor their request?</p>
<p>Sharinggift- I’m pretty sure they ask you to do this so that if you are offered financial aid and if you take it they reserve the right to audit your tax forms at a later date if they feel the need. A lot of ifs involved there! I don’t think it’s breaking any laws to post date it.</p>
<p>Sharing, there is logic to it. From what several FAOs told us last year, some (though it’s relatively rare) families send “unfiled” forms through SSS and then file their actual taxes later, in which the numbers vary significantly. This is more common with folks who do their own forms than those who use a preparer. Except for this year, when most folks cannot file “actual” forms by 2/1 (the cutoff for many schools) because the feds did not release the updated tax software to registered preparers until today (1/31), and some orgs have sent 1099’s and 1098’s out late. </p>
<p>All this to say, consider it similar to random drug testing in the work world. It’s not likely they’ll pull your transcripts, but they can. As for why fill it out before the decision is made—It is hoped that such a step will give pause to those who might otherwise consider gaming the system (i.e. filing a fraudulent form to the school, which has no legal recourse, then filing the correct form to the IRS, which does).</p>
<p>We have been in a FA situation since GG was in middle school, and have always been required to fill out a 4506-T form (usually to sign and leave date blank). It is a common practice, and while it may feel invasive to some, especially the vast majority who would never dream of pulling such a stunt as double filing, we have always felt that schools have a right to get as accurate information possible in order to be as generous as possible <em>to those families that truly need the aid.</em></p>
<p>That and, fair or bizarre or not, we don’t really get a choice. If you don’t honor their request, they can bounce you out of the FA pool for an incomplete app. As for being happy to file the PFS for next year, you won’t have a choice about that, either (assuming you want to remain in the FA pool). One thing is, as far as I’m aware, universal. If you don’t apply for FA in your first year (yes, before you even know if dc is accepted), you won’t be considered for future years unless there is a DRASTIC change in your hh financial situation.</p>
<p>Thanks for all your replies. Looks like it’s a common practice. I got worried because out of all the schools DC applied, only this school asked for 4506-T and asking for a signature with a future date was strange because I had no other comparisons. I guess this was a first-timer’s trouble… I’m all done with FAA though (well, except this one), beating the professionals.:)</p>
<p>It’s not fraud to forward date the document. It just says that the first day they’re authorized to pull the report. Don’t over think this. You can be declined or waitlisted for FA for not following their procedures. Especially since they’re encountered people who delay filing because they are fudging or hiding income and it’s known April is the drop dead date but the IRS is still processing forms for at least a month afterwards.</p>