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Tax Requirements

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We CAN NO LONGER ACCEPT personal copies of Federal Tax Returns. If you have not already used the IRS Data Retrieval tool when initially filing the FAFSA or making corrections, go to www.fafsa.gov, log in to your FAFSA record, select "Make FAFSA Corrections," and navigate to the Financial Information section of the form. From there, follow the instructions to determine if you and/or your parent(s) are eligible to use the IRS Data Retrieval Tool to transfer IRS income tax information into the FAFSA. This option will streamline and expedite the processing of your financial aid application.

Generally it takes 2-3 weeks for IRS income information to become available for use with the IRS Data Retrieval Tool for electronic IRS tax return filers, and 8-11 weeks for paper IRS tax return filers.

For a brief tutorial on how to use the IRS Data Retrieval Tool, please visit www.usi.edu/finaid/Handouts/IRSDR.pdf.

The IRS Data Retrieval Tool cannot be used in the following circumstances:

• Students/Parents who are married and filed separate federal tax returns
• Submit an IRS Tax Return Transcript for parent and spouse or student and spouse.


• Students/Parents who have filed an amended federal tax return
• Submit an IRS Tax Return Transcript and copies of all W-2(s) and 1099(s).


• Students/Parents whose marital status has changed after December 31
• Submit a copy of either the IRS Tax Return Transcript or a signed copy of the original Federal Tax Return AND a signed copy of the 1040X.


• Students/Parents who did not and will not file a 2012 Federal Tax Return
• Submit copies of all W-2s.


• Students/Parents who have filed a foreign tax return
• Submit a signed copy of the foreign tax return.

Applicants who are selected for verification and do not or cannot use the IRS Data Retrieval Tool or who transfer IRS data but change it will be required to submit an IRS Tax Return Transcript (obtained directly from the IRS).

• For instructions on how to obtain a 2012 IRS Tax Return Transcript for 2013-2014 Verification visit www.usi.edu/finaid/1314/tax.pdf.


• For instructions on how to obtain a 2011 IRS Tax Return Transcript for 2012-2013 Verification visit www.usi.edu/finaid/handouts/irstaxtranscript.pdf.
  
  
• Make sure that the student's name and USI student ID number (or Social Security Number if ID number unknown) are written on all pages.

If you, your spouse, or your parent(s) did not and were not required to file a Federal Tax Return. You must check the appropriate box on the Verification Worksheet and complete the "Income Information" section. List any prior year income and the source(s) and attach all W-2s. Non-Filers are required to provide W-2s if they worked. If you cannot provide your W-2s you will need to provide a detailed reason as to why you cannot. If you did not work, please explain in this section how you supported yourself.

If there is conflicting information our office will require an IRS Tax Return Transcript that proves that you did not file Federal Tax Returns. Contact the IRS and request an IRS Tax Return Transcript that shows proof of non-filing.