Tag Archives: FAFSA

Use the IRS Data Retrieval Tool when applying for student financial aid

It is that time of the year when many parents and students are working on obtaining financial aid to pursue higher education.  Tax On Wheels, LLC does not prepare FAFSA forms but we may be able to assist you by making sure you have the necessary tax forms to complete your FAFSA quickly and efficiently.  Even better, the IRS offers a Data Retrieval Tool to securely transfer your tax information to your institution of higher learning.

Completing the Free Application for Federal Student Aid (FAFSA) to apply for federal student aid is easier than ever! Submitting the FAFSA is free, and it gives you access to the largest source of financial aid to pay for college or career schools. If you are a student or parent, you can now access your IRS tax return information using the 2013-2014 IRS Data Retrieval Tool. This is an easy and secure way to access and transfer your tax return information directly into your FAFSA application.
If you are eligible to use the IRS Data Retrieval Tool, we highly recommend using the tool for several reasons:

  1. It’s the easiest way to provide your tax return data.
  2. It’s the best way to ensure that your FAFSA has accurate tax information.
  3. You will not need to provide a copy of your or your parents’ tax returns to your college.

Students or parents who filed tax returns with certain filing statuses, filed an amended tax return, or filed a Puerto Rican or foreign tax return, are not eligible to use the IRS Data Retrieval Tool and will need to enter their tax return information manually.

Additionally, students or parents who filed their tax returns electronically within the last three weeks, or through the mail within the last eight weeks, might need to either enter their tax return information manually or return at a later date to transfer their tax return information into the FAFSA, as their tax return information might not be available for transfer from the IRS.

If you are ineligible, or otherwise choose not to use the IRS Data Retrieval Tool to retrieve tax return information, your college may require a copy of your IRS Tax Return Transcript (or your parents’ IRS Tax Return Transcript, if you are a dependent student). To order an IRS Tax Return Transcript, call 1.800.908.9946, go to Order a Return or Account Transcript at www.IRS.gov or use the IRS2Go mobile application.

The 2013-2014 IRS Data Retrieval Tool, for obtaining tax return information, will be available on the FAFSA website at www.FAFSA.gov beginning early February 2013.


Call Tax On Wheels, LLC 803 732-4288 if we may be of assistance to you.

IRS helps students with FAFSA process

Automated IRS System Helps College-Bound Students with Financial Aid Application Process

College-bound students and their parents typically want to make every dollar and every minute of the college experience count including money spent on tuition and time spent on the college financial aid application process. The Internal Revenue Service is helping minimize the time spent on the completion of the Free Application for Federal Student Aid (FAFSA) form by automating access to federal tax returns with the IRS Data Retrieval Tool. This tool provides the opportunity for applicants to automatically transfer the required tax data onto the FAFSA form.

Here are some tips on using the IRS Data Retrieval Tool:

  • Benefits The IRS Data Retrieval tool is an easy and secure way to access and transfer tax return information directly onto the FAFSA form, saving time and improving accuracy. Also, the increased accuracy reduces the likelihood of being selected for verification by the school’s financial aid office.
  • Eligibility Criteria Taxpayers who wish to use the tool to complete their 2012 FAFSA form must:
    • have filed a 2011 tax return;
    • possess a valid Social Security Number;
    • have a Federal Student Aid PIN (individuals who don’t have a PIN, will be given the option to apply for one through the FAFSA application process);
    • have not changed marital status since Dec. 31, 2011.
  • Exceptions If any of the following conditions apply to the student or parents, the IRS Data Retrieval Tool can not be used for the 2012 FAFSA application:
    • an amended tax return was filed for 2011;
    • no federal tax return for 2011 has been filed ;
    • the federal tax filing status on the 2011 return is married filing separately; a Puerto Rican or other foreign tax return has been filed.
  • Alternatives If the IRS Data Retrieval Tool can not be used and if the college requests verification documentation, it may be necessary to obtain an official transcript from the IRS. To order tax return or tax account transcripts, visit www.irs.gov and select  Order a Transcript  or call the Transcript toll-free line at 1-800-908-9946.

In addition to helping reduce the time and effort involved in completing and submitting the FAFSA form through the IRS Data Retrieval Tool, the IRS offers money-saving information to college students and their parents.  Important information regarding tax credits and deductions for qualifying tuition, materials and fees is available at the IRS Tax Benefits for Education: Information Center and in IRS Publication 970, Tax Benefits for Education both of which are available at www.IRS.gov.

Please call Tax On Wheels, LLC at 803 732-4288 if we can assist you with this or any other IRS system.