<p>THe college needs it in a few days, my tax data is not ready for another few weeks or so
I might be in an income bracket so low that I am not required to file taxes, I did, but I will have no Financial Aid and they need it right now. This already happened with another college, so I transferred quickly, I am so sick and worried about this, now all my student loans will be due and I don't know if I can get on a hardship. I do want to learn and excel in academics, but I have to think of the money piece first.
I don't have $300 or $500 for a payment plan, I have nothing. No one tells you about this tax transcript, and they won't take a copy of your tax return either. I could have done this last summer and been in school if I had known.
I looked into this extensively, no one tells you about this to get it done in time without stress. You can't take it to IRS office in person. They will mail in your tax return. I wonder if H&R block would in person process your return. Doubt it. This is for 2011.
I have to drop out and I am very worried.</p>
<p>
</p>
<p>If this already happened with another college, then you did know a tax transcript was necessary. How can you claim now that no one told you?</p>
<p>But, alright, so be it . . . probably what you mean is that you didn’t know about this requirement until College #1 told you - and I’m guessing that just happened recently. So, the issue is that in order to get federal aid for 2012-13, you have to be able to document your income for 2011. If you can’t do that, possibly because you only recently filed the 2011 return, you’ll have a problem. And, I agree, it would be helpful if the school financial aid websites made clear that tax transcripts might be necessary. If they provided that information, it would be possible, as you say, to plan accordingly.</p>
<p>Unfortunately, at this point, you may be stuck, unless your school financial aid office is willing to give you an extension. My one question, though, is what was indicated on your FAFSA. If, in fact, your income was so low that you were not required to file a 2011 return, and you can document that fact (perhaps with W-2’s), perhaps your school financial aid office would waive the requirement that you provide a tax transcript. I a only guessing, but it might be worth asking. Go speak with them again, explain your low income, and ask them if they can waive the transcript requirement.</p>
<p>No college should need or expect a 2012 tax year tax transcript at this point in time. If they want a 2011 tax year transcript and if you weren’t required to and didn’t file for tax year 2011, the school should have a non-filers form you can fill out and sign. Then you don’t need a transcript. If you filed for 2011 even though you weren’t required to, I have read here on CC of people that last spring did go in person to an IRS office and get a tax transcript.</p>