Haven’t filed fafsa as yet as our Son’s taxes are not yet processed. He filed electronically about a month ago and paid amount due 3 weeks ago. We were able to use the DRT for our information but he is unable to transfer using the DRT. Should he enter manually all the numbers and file fafsa? What would be the next procedure if he does this? Thanks in advance.
The payment he made to IRS was cleared on the 25th.
You can enter manually. It will process, and when his taxes are all good to go with the DRT, you can link to it.
Hoping he isn’t an incoming freshman who hasn’t yet applied for need based aid.
Thank you @thumper1. He is a freshman currently. This application is for next year (sophomore).
What about transcripts and verification etc., if DRT not used?
I’m sure your son’s current school has a FAFSA deadline for returning students (unless he’s applying for a Pell grant and/or federal loans only). Make sure he meets that deadline. If the school later needs additional verification, they’ll let him know.
FWIW, most families complete the FAFSA by hand first, and use the DRT later. That way, there’s no risk of missing a deadline while waiting for the IRS to process a return. The student’s records will show the FAFSA as having been submitted on the date it was originally filed, even if it’s amended later.
Thank you @dodgersmom. His school deadline is first week of next month and state deadline is middle of next month.
Should he wait a week or so to find out whether drt would be available?
I would not wait, enter the numbers from his tax return on FAFSA and do IRS DRT as soon as possible.
Since he has already filed taxes and would say so in the fafsa, can he still use the drt at a later time. Thought drt is available only if it is ready at the time of application or if fafsa already filed with will file taxes ticked. So if there is verification at a later time can he then use drt instead of transcripts.
No, @Renu2020, if he files FAFSA with the box checked for “have already filed taxes,” he’ll be offered the opportunity to access the DRT, but it’s not required. If he doesn’t want to, or tries and finds it’s not available, he can still submit the FAFSA . . . and just do the DRT later. All he has to do is go back to FAFSA, say that he wants to make a correction, and then use the DRT.
Thank You @dodgersmom, mommdc and thumper1. Understood very well. Will have him file FAFSA today.
Yes, we did that. Efiled taxes on 2/4, submitted FAFSA on 2/6 with those numbers and checked “already filed”, DRT was not available. On 2/9 we made correction and used DRT to link tax return to FAFSA.
The goal is to submit FAFSA with accurate numbers as soon as possible.
Thanks. @mommdc, it appears your DRT was available few days after efiling. My son efiled too but probably due to either first time filing or made the payment subsequently the information is not yet available to use DRT. His efiling was accepted which is a good thing.
Your son earned enough income that he had to pay additional to what was withheld?
I’m not sure if the timeline, but receipt and processing of the payment to,the IRS is necessary for DRT use. And right now, I think there is a bit of a wait time for that to happen.
@thumper1. He is self employed the reason he had to pay (self employment tax)
Ah!
Yes, we were getting a refund, that’s why it was so fast, also because we filed in February I think.
Son filed FAFSA. Received SAR but selected for verification probably due to drt. Not sure whether IRS has processed his taxes yet. Should he wait until school contact him about verification docs or can he make FAFSA corrections to see whether drt is now available. If drt is not yet available what happens with the FAFSA, does he enter the tax information again? Thanks in advance.
Keep trying to use DRT, because the school will definitely have that as a requirement for verification purposes. Also follow up with the school, as they may require other documents (W-2s, etc.) to complete the aid package. Don’t bother making FAFSA corrections unless you use the DRT - the school won’t be able to use the figures entered in by hand to clear the verification requirement.
Thanks @mommdc and kgos16