What is verification?
The U.S. Department of Education selects students to be reviewed in a process called verification. For students who are selected, it is necessary for the Financial Aid Office to collect documentation in order to confirm the accuracy of the information reported on the FAFSA. Documentation can include the verification worksheets provided by Financial Aid, students' tax return transcripts and W2s, parents' tax return transcripts and W2s, and spouses' tax transcripts and W2s.
What do I send?
Each student selected is put into one of six verification groups. These groups have been designated V1-V6, depending on what information must be verified by the school.
Groups V1, V5, and V6 need to submit the verification form sent to them and also include any tax or income information requested.
Group V4 only needs to submit the verification form sent to them. They will not need to submit any income or tax information unless it is specifically requested by the Financial Aid Office at a later time.
Each student has a specific list of documentation needed under the To Do List section on their MyKU account.
How do I get my tax info to KU?
There are two ways to submit tax information to the Financial Aid Office:
The best way to verify income is by using the IRS Data Retrieval Tool that is part of FAFSA on the Web. By using this tool, you can transfer your federal tax information directly into the FAFSA.
If the student and/or parent has not already used this tool, go to FAFSA.gov, log in 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 and/or parent is eligible to use the IRS Data Retrieval Tool to transfer last year's IRS income tax information into the student's FAFSA. It takes up to two weeks for IRS income information to be available for the IRS Data Retrieval Tool for electronic IRS tax return filers.
If the student and/or parent is unable or chooses not to use the IRS Data Retrieval Tool, submit a IRS tax return transcript(s). We cannot accept a photocopy of the federal 1040 form.
If the student and/or parent is unable or chooses not to use the IRS Data Retrieval Tool, submit a IRS tax return transcript(s) - we cannot accept a photocopy of the income tax return.
Ø To have a copy of a tax return transcript mailed, go to https://www.irs.gov/Individuals/Get-Transcript and click on "Get Transcript by Mail." Enter the social security number, date of birth, street address and postal code for the person whose transcript you are requesting. For the type of transcript select "Return Transcript" and for tax year select last year. The tax return transcript should be received in the mail within 5-10 business days from the date of request. It takes up to two weeks for the IRS income information to be available for electronic IRS tax return filers, and up to eight weeks for paper tax return filers.
Ø If you are not able to retrieve the transcript from the website, you will need to call the IRS at 1-800-908-9946. Make sure that you are requesting 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 the IRS income information to be available for electronic IRS tax return filers, and up to eight weeks for paper tax return filers.
For further assistance, you may need to visit a local IRS office. Click here to find the closest one to you.