Financial Aid: IRS Data Retrieval Tool

Filing your FAFSA with the IRS Data Retrieval Tool

Students and parents now have the option to use an IRS Data Retrieval Tool when completing a FAFSA.  It is available for those who submit a FAFSA online, and it will allow you to retrieve parent and/or student tax-filing information directly from the IRS.  To fully take advantage of the IRS Data Retrieval Tool, please seriously consider filing your federal income tax returns as soon as possible, and before beginning your FAFSA.  Using the IRS Data Retrieval Tool will help you complete your FAFSA faster and more accurately than ever before!

We highly recommend you use the IRS Data Retrieval option on the FAFSA if you are eligible. Obtaining a Federal Tax Return Transcript from the IRS can cause significant delays.

Federal guidelines allow us to substitute the IRS Data Retrieval process for a tax return transcript in many cases. Data Retrieval will simplify the verification process by reducing the number of documents you need to submit to our office and will speed the verification of your FAFSA. However, parents and/or students who use the IRS Data Retrieval tool and subsequently make changes to the data on the FAFSA must still submit a tax return transcript. If you use the IRS Data Retrieval tool for the FAFSA, you should not change any of the data which is pulled from the IRS.

Certain situations may require a tax return transcript even after using the IRS Data Retrieval Tool.www.irs.gov

When Will Data Be Available From the IRS?

  • Electronic Tax Filers - Data will be available within 2 weeks of filing
  • Paper Tax Filers - Data will be available within 6-8 weeks of filing
NoteIf a tax payment is due to the IRS when an individual files his/her 2016 tax return and has not paid in full; the IRS will not process the return until May. A Tax Return Transcript or IRS DRT will not available until 2-3 weeks after the return has been processed in May.

Who is Not Eligible to Use the Retrieval Tool?

  • Married couples who file separate tax returns
  • Applicants whose marital status has changed as of January 1, 2016
  • Applicants who are neither eligible nor required to file a 2016 federal tax return

Special Items of Note

  • ALL applicants and parents who indicate that they HAVE FILED a 2016 federal tax return will be directed to use the Data Retrieval Tool.
  • Applicants and parents who indicate that they WILL FILE a 2016 federal tax return will receive email communications directing them to use the Data Retrieval Tool to update their income information once the Federal Income Tax Return is filed.
  • Visit FAFSA for more information
  • Visit irs.gov for further information on tax filing

Option 1: Use IRS Data Retrieval

After logging into FAFSA, submitting preliminary information, and indicating that you have already submitted your 2016 federal tax returns, FAFSA will direct you to the IRS website and the data retrieval tool. After clicking on “Transfer Now,” you will automatically be redirected to the FAFSA website and much of your financial data will be populated with the notation "Transferred from the IRS."

If you were selected for verification, your first step should be to log back into your FAFSA and use the IRS Data Retrieval option if you are eligible. Then you should submit your verification worksheet and any other items which we have requested from you. If you are not eligible or choose not to use IRS Data Retrieval Tool, then you will be required to submit a 2016 Tax Return Transcript.

If you did not use the IRS Data Retrieval tool when completing the FAFSA, we encourage you to do so now to speed the verification process:

  • Log into www.fafsa.gov
  • Select "Make FAFSA Corrections" and navigate to the financial data section
  • Follow the instructions to determine if you are eligible to use the IRS Data Retrieval process

Option 2: Obtain Transcript

    Obtain Tax Transcript

    Do not request to have your transcripts sent directly to our office - they must be sent to you. When you receive the tax transcript, please include the student’s Marywood University ID number and name before sending to our office. There are a number of ways to obtain your Federal Tax Return Transcript from the IRS, but there may be significant delays involved so please plan ahead.

    Option 1 - Transcript By Mail

    Request to obtain transcript by mail within 5 to 10 business days

    • Navigate to http://www.irs.gov/
    • Navigate to the orange Tools header and Click “Get Transcript for My Tax Records”
    • Click the blue button “Get Transcript by Mail”
    • You will receive a “This U.S. Government System is for authorized use only” message. Click OK.
    • Enter the tax filer’s SSN, DOB, street address and ZIP code. These must exactly match the data provided on your tax return.
    • Click Continue
    • Select transcript type of “Return Transcript” and select tax year.
    • Click Continue
    • If successfully linked, tax filers can expect a paper IRS Tax Return Transcript to be mailed to the specified address within 5-10 days.
    • Write the student name and Marywood student ID number on the top right corner of each page of the Tax Return Transcript.
    • Mail, fax or email all pages of your Tax Return Transcript to:

    Marywood University
    Office of Financial Aid
    Liberal Arts Center, Room 85
    570-348-6225  FAX: 570-961-4589
    finaid@marywood.edu

    • Do not send any documents to the US Department of Education.  All documents must be sent to the Marywood University Financial Aid Office at the above address.

     

    Option 2 - Transcript by Phone Request

    Request transcript by automated attendant 1-800-908-9946

    • Call the IRS Transcript Order Line at 1-800-908-9946.
    • Be prepared to enter tax filer’s SSN and address.
    • Make sure to choose option #2 for a copy of your Tax Return Transcript.
    • Select tax year 2015 for the 2016-17 academic year.
    • If successfully linked, tax filers can expect a paper IRS Tax Return Transcript to be mailed to the specified address within 5-10 days.
    • Write the student name and Marywood student ID number on the top right corner of each page of the Tax Return Transcript.
    • Mail, fax, or email all pages of your Tax Return Transcript to:

    Marywood University
    Office of Financial Aid
    Liberal Arts Center, Room 85
    570-348-6225  FAX: 570-961-4589
    finaid@marywood.edu

    • Do not send any documents to the US Department of Education.  All documents must be sent to the Marywood University Financial Aid Office at the above address.

     

    Option 3 - Transcript by Paper Request IRS Form 4506-T

    Request a transcript by mailing form to IRS

      • Download Form 4506-T.
      • Complete the form and submit the form to the IRS. The address is state specific and is located on the form.
      • Please have the IRS send the transcript directly to you so that you may include the student's name and Marywood student ID number before forwarding it to our office.
      • Write the student name and Marywood student ID number on the top right corner of each page of the Tax Return Transcript.
      • Mail, fax, or email all pages of your Tax Return Transcript to:

      Marywood University
      Office of Financial Aid
      Liberal Arts Center, Room 85
      570-348-6225  FAX: 570-961-4589
      finaid@marywood.edu

        • Do not send any documents to the US Department of Education.  All documents must be sent to the Marywood University Financial Aid Office at the above address.