IRS Data Retrieval and IRS Tax Transcripts
- 1-2 weeks after electronically filing a tax return
- 6-8 weeks after filing paper tax returns
When either a parent or student selects the IRS Data Retrieval option, the FAFSA Central Processing System (CPS) will conduct a data match with the IRS. As the federal income tax filer, you will be redirected to a secure IRS website, where you will permit the IRS to transfer income data to the FAFSA. Data that is successfully matched will be marked on the FAFSA with the following notation, “Transferred from the IRS.” This process avoids reporting errors and processing delays that can otherwise occur when the option is not selected.
Financial Aid offices will no longer be able to collect copies of income tax returns submitted directly by parents and students. If your FAFSA is selected for verification, using the IRS Retrieval Tool is the best option. If you have not already used the Data Retrieval Tool, log back into your FAFSA record and select “Make FAFSA Corrections.” Then, navigate to the Financial Information section of the form and follow the instructions to determine if you, or your parent, are eligible to use the IRS Data Retrieval Tool to transfer the IRS income tax information. Some reasons that you may not choose this option are if::
- Your (or your parent’s) marital status changed after December 31st
- You (or your parent) filed married filing separately
- You (or your parent) filed an amended tax return *
- You (or your parent) filed a foreign tax return.
For more detailed instructions on how to use the IRS Data Retrieval Tool, click here.
If you are unable to choose this option, then you must submit to the Financial Aid Services Tax Return Transcript(s), NOT photocopies of the income tax returns.
IRS TAX TRANSCRIPTS
There are two ways to obtain your IRS Tax Return Transcripts:
- To obtain an IRS Tax Return Transcript, go to www.IRS.gov, and click on the “Order a Return or Account Transcript” link, or call 1-800-908-9946. Make sure to request the “IRS Tax Return Transcript” and not the *“IRS Tax Account Transcript.” You will need your Social Security Number, date of birth, and the address on file with the IRS (normally this will be the address used when the IRS tax return was filed). It takes up to two weeks for IRS income information to be available for electronic IRS tax return filers, and up to eight weeks for paper IRS tax return filers.
*However, if an amended tax return was filed, BOTH an “IRS Tax Return Transcript” and a 1040X are needed for verification to be completed.
For more detailed instructions on how to obtain an IRS Tax Return Transcript, click here.
An alternative way to obtain an IRS Tax Return Transcript is to visit your local IRS office in person and request a copy. For a listing of local IRS offices click here. Please note: the hours listed are general hours of operation. Each office may have their own time schedule of when they provide Tax Transcripts. We highly recommend you contact them before you visit their office.
The nearest office to FIT is in midtown Manhattan:
110 W. 44th Street
New York, NY 10036
Hours of Operation: Monday - Friday - 8:30 am - 4:30 pm
(Please check with them to find out their schedule as to when they provide Tax Transcripts.)