St. Mary’s College of Maryland compares all student and parent tax information submitted on FAFSA with IRS data to make sure that financial assistance eligibility is determined using accurate figures. The most efficient way to provide this information is to use the IRS Data Retrieval Tool on the FAFSA website. The procedure is outlined below. If your tax information is not available at the time you are completing your FAFSA, you will need to update the FAFSA using the IRS Data Retrieval Tool when your tax information is available. If you file an electronic tax return, your IRS data should be available two weeks after filing. It may take as long as eight weeks for information from a paper tax return to be available.
If you have transferred your IRS tax information, the questions that are populated with tax information will be marked with “”Transferred from the IRS”” on the FAFSA. Do not make any changes to the transferred data. The transfer is not complete until the parent and student electronically sign the FAFSA and the student receives a FAFSA confirmation number by email.
How the IRS Retrieval Data Tool Works
- Access your FAFSA at www.fafsa.ed.gov
- When answering the FAFSA questions about the student’s and parent’s previous year’s taxable income, select the option to download information from the IRS. This option will only appear if your filing status is listed as “Already completed.”
- Your FAFSA will be saved and you will be transferred to the IRS website.
- On the IRS website, enter the requested information exactly as it appears on your tax return.
- Once the IRS has validated your identification, your IRS tax information will display. Transfer your information from the IRS to your FAFSA.
- Once you transfer your IRS tax information, questions that are populated with tax information will be marked with “”Transferred from the IRS.”” After the tax information is transferred, make sure that you sign your FAFSA using your FSA ID and submit the entire form.
- Do not make any changes to the transferred data.
* If you had a change in marital status after the end of the tax year on December 31, you are married but filed separate tax returns, you filed a foreign tax return, or you filed an amended return you will not be eligible to use the IRS data retrieval tool and will need to request an IRS Tax Return Transcript.
How to Obtain IRS Tax Return Transcripts
There are three ways that a parent or student may obtain an IRS Tax Return Transcript:
- Use the Online Services at www.irs.gov and click on “”Order a Tax Return or Account Transcript,”” or
Call the IRS at (800) 908‐9946 and follow the prompts to enter the Social Security number and numbers of the street address as it appears on your current tax return.
- Select “”Option 2″” to request the transcript, or
Complete IRS Form 4506T‐EZ and mail or fax the form to the IRS. The Financial Assistance Office can provide this form or you may download it from www.irs.gov.
- Once you receive the transcript, please write the name and SMCM ID number of the student applicant on the form and fax it to 240-895-4959, email to firstname.lastname@example.org, or mail it to the Financial Assistance Office (see address below).
Non Tax Filers
Parent Certification of Non-filing
If your parent(s) did not, or are not required to file a federal income tax return, please complete the Non‐Filer Statement in Section D of the Verification Worksheet. Attach copies of your current W‐2 or 1099 forms (if applicable).
Student Certification of Non-filing
If you did not, or are not required to file a federal income tax return, please complete the Non‐Filer Statement in Section D of the Verification Worksheet. Attach copies of your current W‐2 or 1099 forms (if applicable).
You will be notified by the Financial Assistance Office if we need to collect additional information to verify your FAFSA. For example, the Department of Education requires documentation if a family receives Supplemental Nutrition Assistance Benefits (Food Stamps) or if a family member pays child support.”