<p>A lot of the schools are requesting all financial forms are completed by January 15th. This includes filling out the SSS form online. </p>
<p>I know that you can estimate the 2007 taxes (which is good, since I haven't received my W-4 yet), but it will be hard for me to estimate until I meet with my accountant. I have some very complicated tax situations.</p>
<p>Have those of you applying for FA, filled out the SSS form yet? Did you just estimate what your 2007 taxes would be?
Thanks!</p>
<p>We filled out the SSS forms the last of December (had a couple of schools with jan. 1 deadlines). We estimated off the paycheck stubs -- but we do not have any complicated situations.</p>
<p>We also have several january 31st deadlines for 2007 taxes and W2s -- that is going to be hard to meet for us, I am not even sure we will have our W2s by then. I am hoping I don't have to fax a ton of stuff on January 31st.</p>
<p>I would say that unless things have changed quite a bit, use your 2006 taxes to estimate for the SSS -- I don't know of any other option.</p>
<p>Same situation here with regards to Jan 1 deadline. </p>
<p>To complicate things further for us, we had a small (definitely not life changing) inheritance that came in the form of a terminated annuity late in the year.</p>
<p>So we have an unknown amount of newly realized interest (which the feds will get a certain percentage of), along with the money recently deposited in our bank and a tax bill of uncertain size due on that money deposited in our bank. And on top of it I wouldn't be surprised (considering how late in the year this all got settled) that my 1099's are late.</p>
<p>So needless to say, my estimates of interest income and taxes due had notes in the comments box on the SSS form indicating that these figures were only a guess (and not a particularly scientific one). And if they insist that I file my taxes in early February before I have all my 1099's in hand (forcing me to file a correction later in April after my FA is finalized), they will be the ones not seeing my income. Not my problem.</p>
<p>It will be interesting.</p>
<p>A couple of the schools we talked to said to use 2006 data as estimates unless something has changed drastically for you in 2007 you should be ok. </p>
<p>One school with a 2/1 deadline for taxes told me to just wait until they are done to send them in rather than send int he 2006 copy (I specifically asked even though their web site says to send 2006 copies if 07 is not done). </p>
<p>Only one of our 5-6 schools wanted the info with SSS by 1/15 (even our other 1/15 application deadline was 2/1 for FA) but they say 2/1 for the forms. With the online filing of the PFS available in 2 days to the school, I would have thought that the deadline if you file online would have been later. </p>
<p>We met with the accountant today who will give me estimates based on the info I do have already combined with last years info for anything we don't have this year.</p>
<p>Ugh, it sounds as if a lot of us are in the same boat. I have a complicated tax situation in general, and it has been compounded by the robbery I experienced last year. It's my understanding I can claim a theft deduction once I subtract out the amount reimbursed by my insurance provider. The dollar amount stolen was quite substantial, so it can dramatically effect (lower) my net income. (I didn't have riders on the jewelry or sterling silver, so I didn't receive a very large settlement check.)</p>
<p>A couple of other questions on the SSS form. I have one daughter already at boarding school and another one applying for 2008. If I could afford to spend $16K on one daughter last year, I would only be able to afford to spend $8K on that daughter this year. Will her current school take that into consideration? They won't even know if she is accepted or not--so they may still have me pay the $16K. </p>
<p>Do all the recipients see the names of the schools you're applying to? (Item #27--Name of school to be attended).</p>
<p>Ohhhh, my stomach is in knots! :eek:</p>
<p>I believe they do see the names of other schools. I do see it on my parent report and wouldn't be surprised if they provide that information to the schools.</p>
<p>Now since if you lost your pin (I did it the first year after completing half the app), you might be able to get away with a separate SSS app for each school. Might cost you more, but...</p>