TCU Federal Verification Process – FAFSA/ IRS Data Retrieval Tool
For easier, more accurate, and more efficient FAFSA processing, all filers are encouraged to use the IRS DATA Retrieval Tool to import their income and tax information from the IRS website. Data Retrieval saves time and decreases the probability of TCU needing to request copies of tax documents later.
Even if you didn’t use Data Retrieval when you filed your first FAFSA, you can go back to FAFSA on the Web and make a correction to choose the IRS Data Retrieval tool and resubmit the FAFSA.
FAFSA correction – adding Data Retrieval after your first FAFSA has been filed: http://www.youtube.com/watch?annotation_id=annotation_767585087&feature=iv&src_vid=QJYE4PTYRfs&v=9ZNRdk3iXeM
TCU recommends that FAFSA applicants complete their taxes early and then use the IRS Data Retrieval within the FAFSA on the Web to import their tax information directly into their FAFSA.
TCU recommends the Data Retrieval process for the following reasons:
- Saves time and eliminates the probability of being selected for Verification
- Reduces the burden of proof on the student and their family
Once your taxes are filed and you’ve allowed time for the IRS to process them (about two weeks for electronic filing and 6-8 weeks for paper returns), you can then go back to FAFSA on the Web and use the IRS data retrieval tool.
If you’ve been told you are not eligible to use the Data Retrieval process, here’s how you can request a free tax transcript.