US student loans: the impact of the suspension of the Internal Revenue Service Data Retrieval Tool (IRS DRT)
In response to concerns about the impact of the suspension of the Internal Revenue Service Data Retrieval Tool (IRS DRT) the U.S Department of Education has issued guidance for students and their parents for the processing of the 2017-2018 FAFSA:
- IRS Tax Return Filers: Instead of using the IRS DRT or IRS transcript, please provide the school with a signed copy of both the student and parent(s) 2015 IRS tax return that was used by the tax filer for submission to the IRS.
- Non-filers: The applicant, the applicant’s spouse or the applicants parents, as applicable, must provide to the school –
o A signed statement certifying that the individual has not filed and is not required to file a 2015 income tax return and a listing of any 2015 income earned by the individual from work and the amount of income from each source; and a copy of IRS W-2, or an equivalent document, from each source of 2015 employment income received by the individual.
Some individuals may be required to submit additional documentation to verify their 2015 income tax information.
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