IRS Data Retrieval Information
The US Department of Education encourages all tax filers to use the IRS data retrieval option when completing the Free Application for Federal Student Aid (FAFSA). This tool allows a FAFSA filer to pull their tax information from the IRS directly into the FAFSA therefore ensuring accurate tax information.
If you file your taxes electronically the retrieval is available approximately 2 weeks after you submitted your tax return. If you file your taxes by paper the information is available within 6-8 weeks after the IRS receives the return.
If you file your 2012-2013 FAFSA before the IRS data retrieval is available to you, you should update your FAFSA data using the IRS Data Retrieval when it is available to you. There are some circumstances when a taxpayer cannot use the IRS retrieval, there are filter questions included in the FAFSA on the Web application that will help you determine that.
Once your information is received by Virginia Tech we may request that you submit additional documents for review. A commonly requested document is a signed copy of your tax return. Due to changes in federal regulations regarding verifying tax information, if your record is selected to have the tax information reviewed, you will need to either (1) use the IRS data retrieval to update the tax information on your FAFSA, or (2) request a tax transcript from the IRS which can take up to six weeks to receive.