IRS Data Retrieval Tool

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What is it?

The IRS Data Retrieval tool is available for online FAFSA submittals and is accessible through the FAFSA web site.  The retrieval tool provides FAFSA applicants and parents with the ability to transfer their income information from the IRS directly to the FAFSA.


How does it work?

FAFSA on the Web applicants and parents of dependent applicants who indicate they have filed a 2013 federal tax return will be given the option to leave the FAFSA site and pull their information directly from the IRS website. A FAFSA PIN will be required to use the Date Retrieval tool.

Applicants and parents who indicate they will file a 2013 federal tax return will receive email communication(s) directing them to use the IRS Data Retrieval tool to update their income information once they have filed their 2013 federal income tax return.

Applicants and parents may also skip the option to use Data Retrieval.

 

What if I haven’t completed my taxes yet?

If you haven’t completed your taxes yet, you will not be able to use the IRS Data Retrieval until you do. However, you can still use estimates to complete your FAFSA and file prior to PSU’s March 1 priority deadline. You can come back later to complete the Data Retrieval process after you have filed your tax return.


How long will it take for my tax information to be available through the IRS Data Retrieval or an IRS Tax Return Transcript?

Typically, the IRS quotes 2 to 12 weeks from the the date of filing. The length of time varies depending on whether you filed electronically or by mail, or if you recieved a refund or have payment due.

 Electronic Filing  Paper Filing
Filer who either did not owe an amount or is expecting a refund 2-3 weeks after submission in most cases 8-11 weeks later in most cases

Filer who owed an amount, and made a full payment while e-filing
2-3 weeks after submission in most cases
IRS will start processing the tax return in June, Tax Return Transcript requests can be made successfully 2-3 weeks later in most cases
Filer who owed an amount, and made a full payment after filing

 

3-4 weeks after the payment is processed by the IRS in most cases IRS will start processing the tax return in June, Tax Return Transcript requests can be made successfully 2-3 weeks later in most cases
Filer who owed an amount, and have not yet paid in full IRS will start processing the tax return in May, Tax Return Transcript requests can be made successfully 2-3 weeks later in most cases IRS will start processing the tax return in June, Tax Return Transcript requests can be made successfully 2-3 weeks later in most cases

 

What should I do if I am unable to access my tax information using the Data Retrieval process?

In some case, applicants or parents may not be able to use the Data Retrieval tool. If you are not selected for Federal Verification you may not have to do anything other than complete the FAFSA. We will contact the student using their PSU email if we need additional information.

Those chosen for Federal Verification who are not eligible to use the tool may request a Tax Return Transcript from the IRS to satisfy the tax requirement.

 

What should I do if I don’t want to use the Data Retrieval process?

Use of the Data Retrieval tool is completely optional. However, applicants selected for the verification process will be required to use the IRS Data Retrieval Tool OR to request a Tax Return Transcript  from the IRS which can later be submitted to the Financial Aid Office. Tax Return Transcripts are generally received within 10 business days from the time the IRS processes the request.

Applicants who use the IRS Data Retrieval Tool but subsequently change the income information must submit a copy of their paper Tax Return Transcript from the IRS.

 

What should I do it I filed an Amended Tax Return?

If you filed an amended tax return, you will need to submit a copy of the IRS Tax Return Transcript, a signed copy of your original IRS Form 1040 (or 1040A or 1040EZ), and a signed copy of your IRS Form 1040X.

 

What if I filed a tax extension with the IRS?

If a student or parent is required to submit tax information for verification but has not yet completed their tax return, PSU may be able to estimate an award based upon student or parent self-certification of income. Please note that the award made on this information would be an estimate only and no funds will be disbursed until an official IRS Data Retrieval is completed or an IRS Tax Transcript obtained. Please contact the Financial Aid Team for more information.

 

What if I’ve been a victim of Identity Theft and cannot use the IRS Data Retrieval OR request an official IRS Tax Return Transcript?

Tax filers who have been the victim of Identity Theft should contact the IRS Identity Protection Specialized Unit at 800-908-4490.

April 7th, 2014 by Eric

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