Tax Returns & T4s

International Students
1

<p>Like many Canadians, I've applied with financial aid to most of the top schools that have need-blind admissions. Some of these have some pretty early deadlines for the financial aid application, most problematic being the deadlines for submission of tax return and income documents. For example, Penn wants it in by Feb 1 and MIT wants them by Feb 15. Most others have a March 1 deadline.</p>

<p>According to the Canadian Revenue Agency, employers don't need to file their T4s until the last day of February. (source: <a href="http://www.cra-arc.gc.ca/E/pub/tg/rc4120/rc4120-lp-10e.pdf%5B/url%5D"&gt;http://www.cra-arc.gc.ca/E/pub/tg/rc4120/rc4120-lp-10e.pdf&lt;/a&gt;) This makes it impossible to complete 2010 tax return documents (i.e. the T1 form) by the deadlines. In addition, the CSS PROFILE form, along with Princeton's online financial aid application and some others, asks for information regarding 2010 income. Some of the fields -- like tax deductions and federal/provincial taxes -- are kind of impossible to predict while I don't have my parents' T4 slips.</p>

<p>So far, I've been making estimates based on 2009 numbers (i.e. just writing the 2009 number) on forms that ask for 2010 information, and noting in the "comments" section that this is an estimate. What are you guys doing about it?</p>

2

<p>Same here. I’m sure the schools just want an estimate.</p>

3

<p>When I filled out my CSS Profile back in December, I used the 2009 numbers to estimate. I’m sure it’s fine if you do that.</p>

4

<p>I sent an email to the MIT about that, they told me to send them my 2009 reports by mail to their financial aid office and to send through the IDOC the 2010 one whenever they are available.</p>