- Complete the appropriate Verification Worksheet (available below), sign, date, and return it to the Financial Aid Office at Franciscan University. Dependent students are required to have a parent sign and date the form along with the student signature.
- The best way to verify income is by using the IRS Data Retrieval Tool (click here to view a video tutorial demonstrating usage of the tool) that is part of the FAFSA on the Web. If the student’s parent has not already used the tool, the parent and the student should go to www.FAFSA.ed.gov, log in to the student’s FAFSA, select “Make FAFSA Corrections”, and navigate to the Financial Information section of the form. From there, follow the instructions to determine if the parent is eligible to use the IRS Data Retrieval Tool to transfer IRS income tax information into the student’s FAFSA. It takes up to two weeks for IRS income information to be available within the IRS Data Retrieval Tool if your tax return was filed electronically, and up to eight weeks for paper tax return filers. When the IRS Data Retrieval Tool is used successfully, you do not need to submit a Tax Return Transcript to Franciscan University.
OR, if you cannot utilize the IRS Data Retrieval Tool:
- Submit a copy of your Federal Tax Return Transcript to our Financial Aid Office. You can obtain an IRS tax return transcript at the Get Transcript of Your Tax Records section of IRS.gov, 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.