1. IRS Data Retrieval Tool DRT is used for several reasons: It’s the easiest way to provide your tax data. It’s the best & most efficient way of ensuring that your FAFSA has accurate tax information. You don’t need to provide a copy of your or your parents’ tax returns to your college.

2. How the IRS Data Retrieval Tool Works  If Parent and Student Do Not File Taxes - review Student Aid Report and see if anything needs to be updated/corrected. If not, no corrections needed. DRT not possible.  If Student is Independent - Make updates only if the student files taxes or corrections need to be made. If student files taxes, update with DRT if possible.  Students who do not need to bother with DRT: Both Parents Undocumented, Parents with 2 tax returns (“Married Filing Separately”, “Unmarried by Living Together”), Filed Amended return → Make all income changes manually, order tax transcript(s)  Students use DRT if: Parent(s) Do Taxes, Has FSA ID- single parent or married parents file MFJ; parents filed electronically at least 2 weeks ago.

3. IRS Data Retrieval Tool (DRT) is available First Sunday in Feb, and can be accessed 2-3 weeks after parents file electronically or 8-11 weeks if parents file by mail. How the IRS Data Retrieval Tool works Once logging into the FAFSA with your FSA ID & Social Security Number… Go to the “Finances” tab Click “Already Completed” for your parents taxes and double-check your parents’ filing status ANSWER NO TO ALL THREE QUESTIONS TO GET THE IRS DRT OPTION: Put in Parent FSA ID, then click “Link To IRS” and you will be directed to the IRS website. IRS Data Retrieval Tool Video available on the wiki

4. Click “Ok” to leave the page

5. Once you get to the IRS Website… ● Enter necessary info: Primary filer’s name, DOB, Filing Status, Address - exactly as it is on Tax Return (no punctuation) - you may have to mess with abbreviations ● If tax info pops up automatically, Click “Transfer to IRS” box and “Transfer Now” button - then do NOT change the transferred info. ○ If there are two wage earners, you must manually enter “parents income earned from work” for each parent because the IRS doesn’t break down the total amount of wages between the two. CLICK “SUBMIT”

6. After hitting SUBMIT, check “TRANSFER MY TAX INFO” and CLICK “TRANSFER NOW” **Repeat for Student taxes if necessary. If student worked but didn’t file, then update wages earned. **

7. Did you (student) file taxes? If so, enter information and follow same DTR steps you did with Parent Financial Information. Otherwise keep “Not going to file”

8. Go to the “Sign & Submit” TAB, put in your PW, click “Agree” and Submit your FAFSA

9. Why isn’t the DRT available for me? If you’re not seeing the IRS DRT icon, there could be a few reasons why: Neither parent has a SSN You indicated will file or are not going to file (change to “already completed”) Parents are “unmarried living together” or you indicated MFS The student/parent filed a Form 1040X amended tax return. (means your tax return was incorrect) The student/parent filed a Puerto Rican or foreign tax return If this is the case → You must manually update your FAFSA with your parents 2015 income and order tax transcript(s) for your colleges

10. Requesting a Tax Return Transcript Google “Get Tax Transcript” for the IRS website or see link on wiki page Click “Get Transcript by Mail” (family can no longer get Transcript online due to privacy breaches) Tax Transcripts are FREE Info Needed: Primary filer’s SSN, DOB, Address from Tax Return

11. Requesting Tax Transcript: Enter Required Info Info Needed: Primary filer’s SSN DOB Address from Tax Return

12. Order a “Return” Transcript, NOT an “account” one

13. SUCCESS LOOKS LIKE THIS TRANSCRIPT WILL BE MAILED TO THE PRIMARY TAXPAYER AT THE ADDRESS LISTED ON THE TAX RETURN.

14. Colleges want your UPDATED tax information using IRS DRT or sending a Tax Return Transcript

15. IRS Data Retrieval Tool Cheat sheet + PPT on the wiki

16. muchincollegeprep.org Tasks Show Mr. F. your completed IRS DRT Worksheet for credit Have parents FILE TAXES!!! Complete IRS DRT 2-3 weeks after filing taxes—be sure to show Mr. F for credit (Deadline for DRT: March 15 th ; 75pts) –Your parents have 2 more weeks to file taxes to make this deadline. Next Scholarship DUE next Tues/Wed in class Update College Decisions on Naviance & “College Decisions” google doc Turn in any DECISION LETTERS received to your College Counselor Check for any college emails. What schools do you need to contact? Contact them during class!