The Department of Education requires schools to collect your tax information if you are selected for verification. There are two ways to submit this data to Arizona Christian University: uploading your information using the IRS Data Retrieval Tool on the FAFSA website, or submitting a copy of your tax return transcript from the IRS. The quickest and preferred method would be to us the IRS Data Retrieval tool. However, not all parents and students will be eligible for this option. Instructions for both options are listed below.
Option 1: IRS Data Retreival Tool
The IRS Data Retrieval Tool allows students and parents to electronically transfer their tax information to their FAFSA directly from the IRS. If a student has already submitted their FAFSA without using the IRS Data Retrieval Tool, they can make a correction to their FAFSA and use this tool. Note: You will be unable to select this option if you are married and filed separately, if a parent had a change of marital status after December 21, 2011 or if anyone filed an amended tax return.
- Log into your FAFSA at http://www.fafsa.ed.gov.
- Click on Make FAFSA Corrections and enter your PIN and create a password.
- Click on Financial Information
- If you are the parent select Parent Financial Information and confirm that the filing status (first question) says “Already Completed.” If you are the student select Student Information and confirm that the filing status (first question) says “Already Completed.”
- Select your identity (mother or father) and enter your PIN. Then click the LINK TO IRS button.
- Follow the instructions on the IRS Data Retrieval Tool.
- When returned to the FAFSA website, enter your wages.
- Complete the IRS Data Retrieval Tool for a second time under Student Financial Information if the student filed a tax return for 2011.
- Your changes are not sent to Arizona Christian University until you continue to (a) “Sign & Submit” section, (b) complete all of the required fields, and (c) Press “submit my FAFSA now”.
Option 2: Ordering a Tax Transcript
A tax transcript will provide a taxpayer with an overview of his or her income tax information for a year. This is not a photocopy of the 1040 form you submitted to the IRS. There is no cost for the transcript. You may order a tax transcript in one of the following ways:
- Request the tax transcript online at www.IRS.gov and clicking on “Order a Return or Account Transcript”
- Fill out and mail form 4506-T found online at http://www.irs.gov/pub/irs-pdf/f4506t.pdf.
- Call 800-829-1040 to order a transcript by phone.
If you order online or by phone, you should receive your tax return transcript within 5 to 10 days from the time the IRS receives your request. Allow 30 calendar days for delivery of a tax account transcript if you order by mail using Form 4506T or Form 4506T-EZ.