<p>I wish to apply for FAFSA this year. I am a transfer student and this spring will hopefully be my last year @ CC. In the past I have filed for FAFSA after my parents have filed their taxes (they usually took their time). I know I have to file for FAFSA asap this year If I want to receive the most aid especially since I hope to transfer to a UC. My question is when is the earliest time to file for taxes? I know I can file for FAFSA in January. What are the steps I have to take to make sure I turn in FAFSA asap. </p>
<p>You can submit your FAFSA using excellent estimates for 2014 on January 1. You should be able to get pretty good estimates by looking at your parent last pay stubs of the year. If the numbers are the same as last year, you can use the 2013 taxes as a guide.</p>
<p>Submit using a “will file” status. This means you have not yet filed 2014 taxes but will be doing so.</p>
<p>Then ASAP after February 1, get those taxes completed. Once completed, go back into your FAFSA, and change the fields for 2014 tax info to reflect what is on your tax return. Change your status to “taxes completed” and resubmit. You will also lonk your completed tax returns to the IRS data retrieval tool.</p>
<p>@thumper1 Thank you! </p>
<p>Do you want financial aid for Spring 2015 or Fall 2015?</p>
@Madison85 I already am going to receive financial aid for spring 2015. My question is for Fall 2015 since this year is my first time filing out fafsa before my parents do their taxes.
Usually the IRS starts taking tax filings in mid january. Employers, banks, mortgages companies, etc., have until Jan 31 to mail W-2 and 1099 statements, but some get them out early or people use their end of the year paystubs as they want to file early. Sometimes there is a form that is not ready with the IRS and it delays some filers. Most people with very simple taxes can file in early Feb. If your parents are regular employees and get W-2 forms, have just a few bank accounts and a mortgage, you should be fine to estimate on the FAFSA and ask them to file their taxes during the first week of february. If they are members of a partnership, have foreign income or investments, inherited money or sold something unusual, then they may have delays.
Just do what you can.