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IRS Data Retrieval Tool (2016-1017)


If your parents have already completed their
2015 federal income tax return, they will be presented with a series of questions that
determine whether they can use the IRS Data Retrieval Tool to transfer their tax return
information from the IRS to your FAFSA If your parent selects “no” to all of
these questions, your parent will be given the option to enter their FSA ID and “Link
to the IRS.” Your IRS data is normally available within
2-3 weeks of filing your taxes electronically or within 6-8 weeks of filing a paper return.
However, if you still owe taxes to the IRS, your tax data and the IRS Data Retrieval Tool
will not be available until after the balance has been paid. If you can use the IRS Data Retrieval Tool,
we highly recommend that you do so. It not only simplifies the application process but
can also minimize the verification documentation your school may ask from you later. If you choose to use the IRS Data Retrieval
Tool, you will be notified that you are leaving FAFSA on the Web. Click OK. On the IRS website, enter the requested information.
Be sure you enter all information EXACTLY as it appears on the tax return and click
Submit. Once the IRS has validated your identification,
your tax information will display. Click “Transfer Now” and then return to the FAFSA website
using the links provided. Please note that it is very important that you return to your
FAFSA application to sign and submit it after using the IRS Data Retrieval Tool. It’s as simple as that. Questions that are
populated with IRS data will be flagged as “Transferred from the IRS.” If you are
selected for verification, your school may choose to use IRS data for verification purposes,
in lieu of a tax transcript.

Glenn Chapman

8 Comments

  1. Too bad you don't live in the EU where education is free or close to free and the wealthy and corporations actually pay taxes.

  2. Hello I have a question, I did the IRS data retrieval tool for my parents financial information and went through everything successfully. However, when I tried to go back I dont see the "make correction" option anymore, because I wanted to use the irs data retrieval tool for my tax return transcript. My question is that, did I do everything correctly or do I still need to hand in my tax return transcript, even if i'm a dependent student?

  3. this video did not tell me where to find the data retrieval tool button. is it in the FAFSA application or what?

  4. You did not answer WHERE on IRS document one could find the number. I am helping my sister remotely.

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