Listen to me carefully: Your parents need to file their 2015 tax return NOW. Not “within the next month or so.” NOW.
It’s overdue. The longer they wait, the more there will be in penalties and interest, not to mention the harm that the situation is causing you, as you are learning.
Do your parents understand what is at risk here? Ask them why they can’t do their tax return right now!
Can you contact QB to discuss your situation?
Has there been a family tragedy/fire/hurricane/etc. which has caused the delay in filing? If so- you may need to help your parents draft a letter to the IRS immediately (as in tonight) to explain the circumstances, and then help them file their taxes tomorrow. The letter may not work- your parents may still be assessed the penalties pus the interest-- but there are circumstances where the IRS will waive the penalty.
If your parents are procrastinators, you are going to have to take the bull by the horns and sit them down to explain that their taxes/filing were due in April; assuming they filed an extension and paid what they owed in April- the extension deadline is also past.
You are not SOL, but unless your parents receipts and bank statements were washed away in a hurricane, they need to step up to the plate and get this done tomorrow.
Is this the first time they’ve realized you are applying to college/scholarship programs?
The filing deadline for tax filers without an extension…for the 2015 return was mid APRIL.
Agree with others…your parents need to get this done ASAP.
They may have gotten an extension. But people who want free money from schools have to file earlier than that last extension deadline. Before this year, schools often wanted the previous year filing around March of the next year, so you had to file a bit before April 15 to meet their requests. You want the money, your parents have to file ASAP.
Anyone who wants one can have an extension for taxes, that that’s not a problem but the extension was until Oct 15.
OP, you have it correct that you are out of luck unless your parents file their taxes. TELL THEM that it is costing you a scholarship and you will get no financial aid because you can’t comply with the requirements. You’ve asked here if there is anything you can do, and the answer is no, there is nothing you can do. The taxes are required.
You can still update the FAFSA when they file their taxes, and that will get you federal loans, Pell grants (if you qualify), SEOG if the school still has any money left, but many opportunities like Questbridge will be gone.
Maybe you could contact the school on Monday and explain that you can send the 2015 W2 (if you have that), but your parents haven’t filed tax return yet.
Make sure that FAFSA is filed with 2015 income from W2. Then your parents need to absolutely get their taxes done right away, like the other posters said.
for almost all of questbridge schools op will also have to complete the CSS profile
The 2015 taxes need to get done. I can’t think there is any way around that requirement.
“My application material is due on Tuesday for Questbridge National College Match Finalists.” To late to get the taxes done.
^^^this is what the questbridge faq says.
So I say, call the school on Monday and tell them your problem, and see what they say.
Also, if you only ranked one school, can you still add others for a better chance?
https://questbridge.zendesk.com/hc/en-us/articles/218777957-
What-should-I-do-if-my-parents-do-not-have-tax-returns-
^It won’t post the whole link, try to connect the two parts at the “-” after the numbers, or do an internet search
Usually the what if my parents do not have to file taxes question comes in to play with low income students
(whose family receives public assistance, social security benefits or non taxable income). They will automatically have to go through a low income verification as the school will know how they eat everyday and provide a roof over their head. Their process will provide providing budget letters (HRA/food stamps) Award letters (from SSA) and other documentation. Even students with undocumented parents who work are expected to file taxes.
However, this is not OP’s situation. His parents for what ever reason are required to file taxes and have chosen not to. S/he is essentially holding up their process and will not be processed for need based financial aid until they complete the application process
It’s certainly possible now. You can’t e-file anything during the cut-over window (mid-December to mid-January), but there are a couple more years to e-file a 2015 1040. 2013 was available for e-filing at least through October 15, 2016; I think it’s available until this year’s cut-over.
I still don’t think it would hurt to contact the school and see what they say.
And if the tax situation is not complicated, and the parents have only W2 income, then hopefully they will sit down today and efile their return.