<p>My parents haven't filed their 2009 tax returns/IRS forms, but the priority deadline for most of my schools is Feb. 1. Because they cannot have their taxes done by then, I estimated everything using the 2008 documents. I'll receive more aid with the 2009 documents, so can I go in and change the tax information after the taxes are filed?</p>
<p>Thanks! Sorry if it's an obvious answer, I'm pretty much on my own for the finaid process and I'm very confused and frustrated.</p>
<p>If you know the 2009 data will be very different to the 2008 data then you should guesstimate as closely as possible. For instance if income was $100k in 2008 and you know it is $50k in 2009 then adjust your estimates to reflect that loss of income as closely as possible. That way you do not lose out on any aid that is limited in nature (i.e. it may be easier to reduce a too high award estimate based on too low an estimated EFC than to add to a too low estimate that was based on too high an estimated EFC).</p>
<p>You have to go in and change the information on FAFSA to the actual information from the 2009 tax return, whether it is beneficial to you or worse for you.</p>
<p>As for the Profile, you cannot go in and change the form (unlike the FAFSA). The schools will likely ask for copies of your tax returns demonstrating the accurate 2009 info. That will suffice for the Profile schools.</p>