FAFSA and IRS retrieval tool

Paying for College
1

<p>We filed FAFSA early this month with estimates, and completed 2012 IRS returns last week. DS' was submitted electronically last Friday. However, our tax preparer told me that mine has not been released because one of the forms included with my return is not able to be submitted electronically until 2/14.</p>

<p>When should we log back into the FAFSA and click on the IRS retrieval tool link (I think I have that step correct) - now, after 2/14, or some period of waiting for the IRS to process the return(s)? Is it a one-step process for both returns?</p>

2

<p>What form are you waiting on?
It is usually a few days after filing to use the retrieval tool.</p>

3

<p>No clue. Tax person didn’t specify, just said IRS wasn’t ready for the electronic submission of it until 2/14. </p>

<p>So if you try to use the retrieval tool and it’s too soon, it just won’t work and you can come back later and try again?</p>

4

<p>Basically you wait until your return is electronically accepted and then use the tool.</p>

5

<p>Are you eligible for an education credit? It’s probably that. It will likely be 7-10 days after return acceptance before return processing is complete and the tool will work. Processing time lengthens as the tax season progresses. Yes, you can try and it will either say not available yet or it will work. If you are getting a refund, you can try the IRS ‘where’s my refund’. Once something shows up there you’ll know you are at least getting closer.</p>

6

<p>Yes, there is an education credit this year, so that could be the hold-up.</p>

<p>Also, on the FAFSA DS indicated “will not file” but then he did go on to file a return (net result was nothing owed or refunded, just filled on his dividend income and cash from summer jobs)</p>

<p>So first we correct that part of the FAFSA to show “will file” then use the retrieval tool?</p>

7

<p>Yes, all returns with an education credit or any of these other conditions will be held until Valentine’s Day:</p>

<p><a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/1458256-efile-form-8863-education-credits-beginning-february-14th.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/1458256-efile-form-8863-education-credits-beginning-february-14th.html&lt;/a&gt;&lt;/p&gt;

8

<p>Once you believe the returns have been processed you change fafsa to ‘have filed’ and then try the tool.</p>

9

<p>We filed our taxes electronically via TurboTax on Feb 10th; Intuit confirmed our return was accepted, and electronic withdrawal of taxes due from our bank account occurred on Feb 15th. Now it’s March 10th, 4 weeks after filing and over 3 weeks since payment was processed, yet we still can’t get the IRS data transfer tool to work. Is anyone else experiencing similar delays this year?</p>

10

<p><a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/1467187-please-post-your-efile-time-data-retrieval.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/1467187-please-post-your-efile-time-data-retrieval.html&lt;/a&gt;&lt;/p&gt;

11

<p>**Thanks for the link to the related thread. I spoke to the IRS on 3/19 and was told that my e-filed return was received on 2/12, and the money due was posted on 2/14, but the return was not yet fully processed by the IRS. They said it might take 8-10 weeks before it is processed, because I owed money. It is irrelevant that I paid it immediately via checking account deduction right after filing; rather, their priority is to first process all returns with refunds due, to get people their refunds, then they finish processing the ones who paid money. So, the data retrieval tool (DRT) is inaccessible until well after the FAFSA deadlines of many colleges, for those who owed money with their tax return, whether they filed early or not or paid the money already or not. I’ll just have to revise my FAFSA submissions down the road once the DRT becomes available. I think the online FAFSA DRT guidance should be a lot more explicit about these issues, to save people a lot of angst when the DRT is unavailable for far longer than their “3 weeks if you e-file” guidance would suggest.</p>