<p>First, 2012 is not quite set - they still need to patch AMT, or it will hit many more families, and it will hit hard. There are a few other small items that need fixing for 2012 (which should have been done long ago, but we all understand how Congress works…)</p>
<p>As for 2013 taxes, they don’t really need to update the aid formulas. FAFSA for school year 2013-14 is based on income and taxes from 2012, and an assumption that things will stay roughly the same. Our tax situation could change (and that could happen on an individual basis whether the tax code chages or not), but so could our income.</p>