112020FAFSAVerification2122IRSTaxReturnTranscriptMatrix

Author
Federal Student Aid
Subject
2021-2022 FAFSA Verification-Internal Revenue Service (IRS) Tax Return Transcript Matrix

Attached to this Electronic Announcement is the 2021-2022 FAFSA Verification-IRS Tax Return Transcript Matrix that institutions can use for 2021-2022 verification of IRS tax return information included on the Free Application for Federal Student Aid (FAFSA) application.

Since the IRS Tax Return Transcript does not have line or item numbers and uses wording that may be different from what is used on the FAFSA, this matrix may help financial aid administrators map 2019 IRS Tax Return Transcript information to FAFSA/ISIR data. The first column of the matrix lists the six 2021-2022 FAFSA information items that, consistent with the September 3, 2020 Federal Register notice, may need to be verified for a student or parent who indicated that they did or will file a 2019 IRS tax return.

The second column displays the student and parent FAFSA question number for each item. The third column displays the student and parent ISIR item number. ISIR Field numbers are from the 2021-2022 Electronic Data Exchange (EDE) Technical Reference under the ISIR Record Description/Data Dictionary. The fourth column of the matrix is the item name as displayed on the IRS Tax Return Transcript. Note that for some items the transcript may display two or three values for an item. If only one value is displayed on the transcript, that value must be used for verification. If more than one value is displayed on the transcript, the value associated with the item name that includes the words “Per Computer” must be used for verification. The “Per Computer” line should be used for verification even if it is different than what was reported by the tax filer. The last column shows the corresponding line item numbers from the 2019 IRS 1040 tax return.

Under provisions of the Higher Education Act (HEA), taxes and credits related to the Affordable Care Act (ACA) are not to be included in the amount of U.S. Taxes Paid that are used in the calculation of a student’s expected family contribution (EFC).

Attachments

2021-2022 FAFSA Verification-IRS Tax Return Transcript Matrix in Microsoft Excel Format, 46KB