IRS Data Retrieval Tool

Under new procedures for the 2016-17 year for continuing students, we are no longer able to accept paper copies of your 2015 1040.  We need for you to provide your tax information either through the IRS Data Retrieval Tool or through a copy of your IRS Tax Return Transcript.  We strongly encourage the use of the IRS Data Retrieval process for all returning students who have filed a FAFSA.  

Additionally, students or parents who filed their tax returns electronically within the last three weeks, or through the mail within the last eleven weeks, might need to either enter their tax return information manually and/or return to the FAFSA On The Web program to transfer their tax return information into the FAFSA, as the tax return information might not yet be available for transfer from the IRS.  We have included a helpful video below.

Certain tax filers may not be able to use the IRS Data Retrieval Tool.  See "Who Cannot Use the DRT" below.  For those students we will need a copy of the IRS Tax Return Transcript.  The IRS Tax Return Transcript is not a photocopy of your 1040.  You can request an IRS Tax Return Transcript from the IRS Website.  The transcript will be mailed to your home and once you receive it, be sure to write the student's name and William & Mary Id # at the top of the page before you send it in to us.  It can take up to two weeks to obtain a tax transcript, so please do so as soon as possible.  We will not reduce the aid you will be receiving due to IRS delays.

Who CAN Use the IRS Data Retrieval Tool?
  • You have successfully submitted a Federal tax return with the IRS
  • You have a valid social security number (SSN)
  • You have separate FSA User ID's and passwords for both parent and student obtained from the FSAID website

{{youtube:medium:center|skkr_fgduoQ, Using the IRS Data Retrieval Tool}}

If you use the IRS Data Retrieval Tool and you change the transferred data, it will prompt us to request that you submit an IRS Tax Return Transcript.  If we have requested an IRS Tax Return Transcript because you have changed transferred data, you can go back to FAFSA On The Web and go through the process to import the IRS data without changing the data.  Once that updated or corrected FAFSA has been submitted, when it process through our system we should be able to clear the request for the IRS Tax Return Transcript. 

Who CANNOT Use the IRS Data Retrieval Tool?
  • Your marital status changes after the end of the tax year, e.g. you completed the 2015 Federal 1040 as married but you are now divorced.
  • You filing status is "Married Filing Separately"
  • You are Married and filed "Head of Household"
  • You filed a foreign tax return
  • You filed a Puerto Rican tax return
  • You filed your taxes within the last 2 - 10 weeks
  • You have an outstanding balance/owe taxes to the IRS
  • You are a taxpayer who files using a Tax ID Number (TIN) rather than a Social Security Number (SSN)
  • You filed an amended tax return (Form 1040X)
Important Note for Amended Tax Returns: 

The FAFSA On The Web IRS Data Retrieval Process will only transfer information from an original tax return and Not from an amended tax return.  Similarly, the IRS Tax Return Transcript only includes information from the original tax return.  Therefore, both an IRS Tax Return Transcript and an IRS 1040X Form must be obtained and submitted to the school for review to be completed when an amended tax return is filed for the requested tax year.

Please feel free to contact our office if you have any questions: [[aid,Financial Aid]] or 757-221-2420.