New Mexico Junior College
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- Bertram Walters
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1 New Mexico Junior College Income Verification Worksheet - Dependent Student Your Free Application for Federal Student Aid (FAFSA) was selected by the federal processor for review in a process called verification. The law says that before awarding Federal Student Aid, we may ask you to confirm the information you reported on your FAFSA. To verify that you provided correct information, we will compare your FAFSA with the information on this institutional verification document and with any other required documents. If there are differences, your FAFSA information may need to be corrected. A. Student s Information Student s Last Name First Name M.I. NMJC Student ID or SS# B. Dependent Student s Income Information 1. TAX RETURN FILERS Complete this section if the student filed or will file a 2015 IRS income tax return. If you filed an income tax return for 2015, you must either return to your FAFSA on the Web application and use the IRS data retrieval tool (DRT) to import your tax information into your FAFSA on the Web application (see page 4 for instructions) or you may request a copy of your 2015 IRS Tax Return Transcript from the IRS and submit the tax transcript to the Office of Financial Aid (see page 5 for instructions). The student has used the IRS DRT in FAFSA on the Web to transfer 2015 IRS income tax return information into the student s FAFSA. The student has not yet used the IRS DRT in FAFSA on the Web, but will use the tool to transfer 2015 IRS income tax return information into the student s FAFSA once the 2015 IRS income tax return has been filed (see page 4 for instructions). The student is unable or chooses not to use the IRS DRT in FAFSA on the Web, and instead will provide the school a 2015 IRS Tax Return Transcript (see page 5 for instructions) Check here if a 2015 IRS Tax Return Transcript(s) is provided. Check here if a 2015 IRS Tax Return Transcript(s) will be provided later. 2. TAX RETURN NONFILERS Complete this section if the student will not file and is not required to file a 2015 income tax return with the IRS. Provide documentation from the IRS (Verification of Non-filing Letter) dated on or after October 1, 2016 that indicates a 2015 IRS income tax return was not filed with the IRS or other relevant tax authority. Check here if Verification of Non-filing Letter is provided. Check here if Verification of Non-filing Letter will be provided later. The student was not employed and had no income earned from work in The student was employed in 2015 and has listed below the names of all employers, the amount earned from each employer in 2015, and whether an IRS W-2 form is provided. [Provide copies of all 2015 IRS W-2 forms issued to the student by the employers]. List every employer even if the employer did not issue an IRS W-2 form. If more space is needed, provide a separate page with the student s name and ID number at the top. Employer s Name IRS W-2 Annual Amount Earned Provided? in 2015? (Example) ABCs Auto Body Shop Yes $4,500.00
2 C. Parent s Income Information 1. TAX RETURN FILERS Complete this section if the parents filed or will file a 2015 IRS income tax return(s). If you filed an income tax return for 2015, you must either return to your FAFSA on the Web application and use the IRS data retrieval tool (DRT) to import your tax information into your FAFSA on the Web application (see page 4 for instructions) or you may request a copy of your 2015 IRS Tax Return Transcript from the IRS and submit the tax transcript to the Office of Financial Aid (see page 5 for instructions). Important Note: The instructions below apply to each parent included in the household. Notify the financial aid office if the parents filed separate IRS income tax returns for 2015 or had a change in marital status after the end of the 2015 tax year on December 31, The parents have used the IRS DRT in FAFSA on the Web to transfer 2015 IRS income tax return information into the student s FAFSA. The parents have not yet used the IRS DRT in FAFSA on the Web, but will use the tool to transfer 2015 IRS income tax return information into the student s FAFSA once the 2015 IRS income tax return has been filed (see page 4 for instructions). The parents are unable or choose not to use the IRS DRT in FAFSA on the Web, and instead will provide the school a 2015 IRS Tax Return Transcript(s) (see page 5 for instructions). If the parents filed separate 2015 IRS income tax returns, 2015 IRS Tax Return Transcripts must be provided for both. Check here if a 2015 IRS Tax Return Transcript(s) is provided. Check here if a 2015 IRS Tax Return Transcript(s) will be provided later. 2. TAX RETURN NONFILERS Complete this section if the parents will not file and are not required to file a 2015 income tax return with the IRS. The instructions and certifications below apply to each parent included in the household. Provide documentation from the IRS (Verification of Non-filing Letter) dated on or after October 1, 2016 that indicates a 2015 IRS income tax return was not filed with the IRS or other relevant tax authority. Check here if Verification of Non-filing Letter is provided (separate letters required for each parent). Check here if Verification of Non-filing Letter will be provided later (separate letters required for each parent). Neither parent was employed and had no income earned from work in One or both parents were employed in 2015 and have listed below the names of all employers, the amount earned from each employer in 2015, and whether an IRS W-2 form is provided. [Provide copies of all 2015 IRS W-2 forms issued to the parents by their employers]. List every employer even if the employer did not issue an IRS W-2 form. If more space is needed, provide a separate page with the student s name and ID number at the top. Employer s Name 2015 Amount IRS W-2 Provided? Earned Suzy s Auto Body Shop (example) $2, Yes Page 2 of 5
3 D. Certification and Signatures Income Verification Each person signing below certifies that all of the information reported is complete and correct. The student and one parent whose information was reported on the FAFSA must sign and date. WARNING: If you purposely give false or misleading information you may be fined, be sentenced to jail, or both. Print Student s Name Student s Street Address (include apt. no.) City State Zip Code Student s Home Phone Number (include area code) NMJC Student ID or SS# Student s Date of Birth Student s Address Student s Alternate or Cell Phone Number Student s Signature Date Parent s Signature Date Do not mail this worksheet to the U. S. Department of Education Submit this worksheet to: New Mexico Junior College Office of Financial Aid 1 Thunderbird Circle Hobbs, NM Phone: Fax: financialaid@nmjc.edu Please retain a copy of all documentation submitted for your records. Page 3 of 5
4 Go to FAFSA.ed.gov. IRS Data Retrieval Tool Instructions Login with the student s FSA ID and select Make Correction. Go to the Financial Information screen. Under the IRS Data Retrieval section, enter the parent s FSA ID and click on Link to IRS. Enter the address and tax filing status exactly as it appears on the student s tax form and submit. Review the tax information but DO NOT change any of the data or it will not be considered retrieved data. Select Transfer my Tax Information in the FAFSA and click on Transfer Now. Expect a pop-up message confirming that the information transferred. Follow the same steps to transfer the student s IRS tax return information from the IRS into the FAFSA. Do NOT make any changes to the IRS data or the information will not be considered as transferred. Retrieved data includes: Adjusted gross income Education credits Taxes paid Untaxed portions of IRA distributions and pensions Number of exemptions Continue through the screens and select Submit. Page 4 of 5
5 Free 2015 IRS Tax Return Transcript Instructions 1. By Phone: Call the IRS at and listen closely to prompts. Select Option 2 to request an IRS Tax Return Transcript and then enter If successfully validated, tax filers can expect to receive a paper IRS Tax Return Transcript at the address that was used in their telephone request, within 5 to 10 days from the time the IRS receives the request. 2. Online: Available at In the Tools Section of the homepage, select Get a Tax Transcript. Review your options to receive your transcript online or by mail. Get Transcript ONLINE The online option will allow you to receive your 2015 transcript immediately but you must have access to an account and an account in your name from either a credit card, mortgage, home equity loan, home equity line of credit, or a car loan. You must also have a mobile phone with your name on the account. If you have this information, select to Get a Transcript ONLINE and follow the process through to print your transcript. OR, Get Transcript by MAIL. Enter the tax filer s Social Security Number, date of birth, street address, and zip code exactly as they appear on the tax return. Use the address currently on file with the IRS. Generally, this will be the address that was listed on the latest tax return filed. However, if an address change has been completed through the US Postal Service, the IRS may have the updated address on file. Select Continue and in the Type of Transcript field, select Return Transcript and in the Tax Year field, select Unacceptable tax forms include an IRS Tax Account Transcript and Tax Summary. If successfully validated, the tax return transcript will be mailed to the address noted on your 2015 tax return. 3. By Mail: (address provided on form for your home state) Use option #3 ONLY if your address has changed from the address listed on your filed tax return. IRS Form 4506T-EZ should be used instead of IRS Form 4506-T because it is sufficient to request an IRS Tax Return Transcript. Download at Complete Lines 1 4, following the instructions on page 2 of the form. Note that Line 3 should be the most current address as filed with the IRS. It is the address where the IRS Tax Return Transcript will be sent. If the address has recently changed, include the address listed on the latest tax return filed on Line 4. However, if an address change has been completed through the US Postal Service, the IRS may have the updated address on file. Line 5 provides tax filers with the option to have their IRS Tax Return Transcript mailed directly to a third party by the IRS. Be Advised: the school may not be able to match the tax return transcript to a student if the surname is different between the tax form and the NMJC Student. On line 6, enter 2015 to receive IRS tax information for the 2015 tax year that is required for the FAFSA. The tax filers (or spouse if requesting information from a joint tax return) must sign and date the form and enter their telephone number. Only one signature is required to request a transcript for a joint return. Mail or fax the completed IRS Form 4506T-EZ to the appropriate address (or FAX number) provided on page 2 of Form 4506T-EZ. Tax filers can expect to receive their transcript within 5 to 10 days from the time the IRS receives and processes their signed request. NOTE: Processing form 4506T-EZ means verifying/validating the information provided on the form. If any information does not match the IRS records, the IRS will notify the tax filer that it was not able to provide the transcript. New Mexico Junior College Office of Financial Aid 1 Thunderbird Circle Hobbs, NM Toll Free Fax financialaid@nmjc.edu For further questions or difficulties receiving your IRS Transcript, please call the IRS at Page 5 of 5 (Option 1)
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