- The IRS Data Retrieval Tool (IRS DRT) is available NOW by the U.S. Department of Education which allows the student/parent to transfer their 2011 income tax return information onto the 2012-13 FAFSA application. Students are STRONGLY encouraged to utilize the IRS DRT! NOTE: you must allow 7-14 business days after you electronically file your tax return before you will be able to download tax return information onto the FAFSA; if filing a paper tax return, you must allow up to 60 business days before you will be able to download tax return information onto the FAFSA.
- Students NOT using the IRS DRT will most likely be selected for verification and, if selected, students/parents MUST submit an IRS Tax RETURN TRANSCRIPT to the MSU Financial Aid Office -- copies of signed tax returns will no longer be accepted (unless a foreign tax return has been filed). Also, if selected, documentation will be required if a student/parent reports Child Support PAID or receipt of Food Stamps (SNAP) on the FAFSA.
- If a student/parent reports income-earned-from-work but did NOT file a tax return, student/parent must submit W2’s to the MSU Financial Aid Office to document the income earned from work.
NOTE: To request a FREE copy of you/parent IRS Tax RETURN TRANSCRIPT, visit http://www.irs.gov/individuals/article/0,,id=232168,00.html; you will be required to provide you/parent: Social Security Number (or IRS individual taxpayer identification number); Date of birth; Street address; and Zip Code or Postal Code. (Be sure to request a RETURN TRANSCRIPT, not Account Transcript).