IRS data retrieval tool

Paying for College
1

<p>I had submitted FAFSA based on the estimation in first week of Jan and filed correction after filing taxes on Jan 30th.
At the time IRS data retrieval tool was not available so I manually filled all the tax information. It says </p>

<p>While not required, if you are eligible to use the IRS Data Retrieval Tool, we highly recommend using the tool for several reasons:</p>

<p>It’s the easiest way to provide your tax return information.
It’s the best way of ensuring that your FAFSA has accurate tax return information.
It may eliminate the need to provide additional documentation to your college. </p>

<p>Should I file correction when DRT is available or it is not required? </p>

2

<p>Yes you should</p>

3

<p>I’m trying to use the tool now and it says it’s transferring data, but taking a very long time. Is this normal?</p>

4

<p>Not for me, when I did it it went quickly to a screen that asked if I wanted to transfer the data, after clicked that it was pretty immediate.</p>

5

<p>Must have been my computer. Got it to work fine on my ipad. Now I am doing the happy dance – DONE with financial aid stuff for this year!!! :)) </p>

6

<p>I thought it was done after submitting CSS profile and FAFSA last month. Then I found I need to made correction and DRT afterward. Also, I needed to submit IDOC too. Finally, I have everything done last week. Hopefully there is no further verification needed, but you never know. ;)</p>

7

<p>@billcsho so true – just updated FAFSA and sent IDOC stuff and now hope it’s really over, but you never know if they’ll want more. It feels like a waste of time anyway b/c I doubt we’ll get anything. </p>

8

<p>Yeah. Some schools may need further verification before final FA is given.</p>

9

<p>Is it necessary to use Data retreival tool? or you can manually input information as long as it matches with your tax return. I owe IRS some money and it will be a while before DRT is available. </p>

10

<p>If your fafsa hasn’t been selected for verification, you can manually update and that will be that. Just be sure to update some of the more obscure fields such as the amount of any non-refundable education credits, individual parents income from work, non-taxable pension or IRA distributions etc. if they apply.</p>

11

<p>Its not necessary but highly recommended to use the DRT. One can always enter the numbers manually and be ready to provide TAX documents if asked by College…</p>