THIS PROCESS IS IMPORTANT TO COMPLETING YOUR FINANCIAL AID
Verification is a quality control process in the administration of Federal Student Aid required by the U.S. Department of Education. Being selected for verification does not necessarily mean the applicant made an error when filing their application. The NWC Financial Aid Office (FAO) is simply required to conduct activities that will verify the accuracy of information provided by students (and parents, if applicable) when they apply fddor federal student aid.
Students whose applications are selected for verification will be required to submit specified documentation to the Northwest College FAO.
If the student/parents have filed a federal tax return, there are a variety of options to provide tax information. Do NOT send photocopies of any 1040/ 1040A/ 1040EZ/ 1040X tax return forms unless they are specifically requested by NWC's Financial Aid & Scholarship Office.
PREFERRED OPTION: Use the IRS Data Retrieval Tool.
The best way to verify income is by using the IRS Data Retrieval Tool (DRT) that is part of FAFSA on the Web. If students/parents have not already used the IRS DRT, go to FAFSA.gov, login to the student’s FAFSA record, select “Make FAFSA Corrections,” and navigate to the Financial Information section of the form. From there, follow the instructions to determine if the student is eligible to use the IRS DRT to transfer 2015 IRS income tax information into the student’s FAFSA. It takes two-three weeks for IRS income information to be available for the IRS DRT for electronic IRS tax return filers, and up to eight weeks for paper IRS tax return filers. If you need more information about when, or how to use the IRS DRT see your financial aid administrator.
OTHER OPTION: Submit a 2015 IRS Tax Return Transcript to the FAO.
To obtain a transcript:
Online Request. Go to https://irs.gov , under the Tools heading on the IRS homepage, click "Get a Tax Transcript." Two options:
During the new Get Transcript Online registration process, the IRS will send the user a confirmation code via email and an authentication code via text. The IRS email and text will contain a one-time code that the user will use to finalize the Get Transcript Online registration.
Telephone Request. 1-800-908-9946. Paper Request Form IRS Form 4506T-EZ or IRS Form 4506-T. Use the Social Security Number (or the IRS individual taxpayer identification number) and date of birth of the first person listed on the 2015 IRS income tax return, and the address on file with the IRS (normally this will be the address used on the 2015 IRS income tax return).
In most cases, for electronic tax return filers, 2015 IRS income tax return information is available for the IRS DRT or the IRS Tax Return Transcript within 2–3 weeks after the 2015 electronic IRS income tax return has been accepted by the IRS. Generally, for filers of 2015 paper IRS income tax returns, the 2015 IRS income tax return information is available for the IRS DRT or the IRS Tax Return Transcript within 6–8 weeks after the 2015 paper IRS income tax return has been received by the IRS. Contact the Financial Aid Office if more information is needed about using the IRS DRT or obtaining an IRS Tax Return Transcript.
NOTE: Request a return transcript, NOT an account transcript, unless you (or parents, if applicable) have amended the return. Then request both a return transcript and an account transcript.
NOTE: It can take up to 30 days for the IRS to process your request. Please plan accordingly.
*If the student (and parents, if applicable) earned income from work and were not required to file a federal tax return, the FAO will need a copy of 2015 W-2 form(s), which the student/parents can request directly from the IRS if copies aren’t available. Request a Wage & Income Transcript.
There are separate forms for this process, depending on the type of verification required. Your Request Letter will list the titles of all forms needed. Download forms by clicking on the Financial Aid Forms tab on the NWC Financial Aid website. Visit the Financial Aid Forms