<p>I received one letter from one school. They said it need my 2006 tax return and w2 form before Feb 18 for my preliminary fa award along their March 10 admission decision. I am wonder what the general practice for boarding school. When I submit the application, I also ask sss to submit my f statement over the school.</p>
<p>Thx.</p>
<p>Yup,</p>
<p>This is standard. Just finished my taxes today for year 2. They use this to keep people honest.</p>
<p>Just hand delivered mine (due Feb 15) in order to beat the big snowstorm!</p>
<p>This is really tough for many people to do, we have a small business, and have to do our business taxes first and then personal taxes, there is NO way it gets done before Feb 15th. We sent 1040s for 2004 and 2005 and our 2006 w2s but that is the best we can do at this moment. Anyone else in this situation.</p>
<p>Here's my checklist:</p>
<p>a) On-line PFS
b) Printed copy of PFS
c) 2005 1040 and W-2s
d) 2006 1040 and W-2s
e) Farm and Business Form (supplement to PFS)
f) IRS Form 4506-T (blank authorization to release past years' tax returns to each school)</p>
<p>My 2006 1040 isn't final -- and can't be for another week due to the IRS' delay in completing a form that I need -- but I sent them the draft 1040 filing, told them what the other form will say, and promised to send the final 1040 ASAP. They all seemed cool with that. There will be another $23 in dividend income that I missed because the bank didn't send me a form until this week, but I'm thinking that that won't jack up the EFC by more than, oh, another $500 using the Satanic Multiplier Effect that they seem to use.</p>
<p>My son applied to several schools and every one of them requested all of the above items (though the Farm and Business supplement doesn't apply to everyone).</p>
<p>EDIT: If you own a small business, I think SSS assumes that you understate your income and defraud the federal government. I was totally honest but I can only assume that they assume that I am totally dishonest. Reminds me of a friend who was looking to buy a bagel shop. The seller said that he'd sell it for 2.5 times annual revenues but my friend had to understand that since it's a cash business he only reports 40% of his actual revenues. So his accountant's numbers had to be adjusted. My friend told the seller that he should stick with one story and live with the consequences: Either sell it based on revenues reported to the IRS or sell it based on his admission that he's been cheating the IRS. The seller decided to find another buyer. It's people like this who cheat who taint the rest of us who are honest. First I've got to pay MORE than my share of taxes because of these people. Then I get treated like a thief and a cheat because of them.</p>
<p>My mom used last year's tax information for SSS.</p>
<p>Some of the schools actually do their own calculations based on the W2s and 1040 forms that you submit. (They have the right to ask the IRS for copies of the forms that you actually filed.) We luck out, because based on their own calculations, we get $5,000 more help per year that that odious organization in Princeton suggests. When I sent off the PFS this time, I didn't even pay for the extra copy of their results to be sent back to us!</p>
<p>About that extra copy of results. I've decided (too late) that by spending that extra $13 to peek at the numbers I'm showing them that I'm frivolous with my money and that, just for checking that box, they add $4,300 to your EFC.</p>
<p>If we get the same kind of power boost that you get from your child's school, then BS is viable. It's still over what I estimate as being what we can handle (with pain), but it will be within our grasp in a "I can swing this if I just loan my soul to Satan" kind of way.</p>
<p>Dy'ermaker- in our case both parents are teachers, so I think that there's some sort of sympathy factor that goes into it! I definitely think it is worth it, even though we each drive old cars and never do anything fabulous like ski vacations or weekends in tropical islands (don't you love the question about "how much did you spend on family vacations this year?") Our only free option was the local, rural public school with very limited honors and AP classes. We decided that the misery of public middle school would only become magnified, an she is deliriously happy and challenged where she is.</p>
<p>My parents struggled to get their 2006 tax return in quite a bit, but I think they both are making it.</p>
<p>I only got a letter from the school from five schools my son is applying. I called the other schools. They said just mailed the form. I am thinking if that is what they need, they should let me know. I think the steps should be get accepted first and then go over the fa since in one statment I also state how much I will to pay. </p>
<p>I feel the school get so many paper which they might need that at all.</p>
<p>Thanks.</p>
<p>Did you get letters from the schools asking for additional material? I sent in a package with everything I had, but have not heard anything for any of the schools yet. Will they let me know what I need to send?</p>
<p>Some schools have the FA status information on-line (e.g., Exeter). And I've gotten a letter from one school another asking me to send in my final 1040 by a certain date -- but that was a personal letter in response to my cover letter explaining that I couldn't complete the 1040 until a later date. I sent the FA info with delivery confirmation requests -- unlike the applications -- because I figured I didn't want to pester schools over FA materials if I could avoid it. I'm just guessing but I think if they need more information or paperwork, they'll ask you for it. I suppose they could be harda$$es about this and just let you wither on the vine without giving you a chance to fill in blanks or answer questions they might have. But I suspect the work ethic is to do a good job, not cut corners, and that if they need more from you to do their job, they'll ask for it. That could be a false assumption, but I believe I've given as much as I can give them and I'm prepared to accept the consequences on the slim chance that a) I've left something out; AND b) they're not inclined to ask for it. If (b) applies, I've gotta figure I wasn't going to get much FA anyway. Right?</p>
<p>I always asked the school whether they need additional inof. They said no. But I just feel different schools process differently. My friend told me yesterday one school said they would not consider her son application until the 1040 form receive.</p>
<p>"oh, another $500 using the Satanic Multiplier Effect that they seem to use."</p>
<p>You just made me spill my coffee on my keyboard..........lol</p>
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