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FINANCIAL ASSISTANCE

Realize your Potential

Title IV Federal School Code: 002064

Contact Us

College of Southern Maryland
Financial Assistance (FAD)
finaid@csmd.edu
8730 Mitchell Rd
PO Box 910
La Plata, MD 20646-0910
301-934-7531

Taxes

IRS Data Retrieval

Starting with the 2012-2013 FAFA application, students and parents who have submitted their IRS tax return will be able to select the IRS Data Retrieval option on the Free Application for Federal Student Aid (FAFSA) to transfer tax information to the FAFSA. We strongly encourage you to select this option during the initial filing or when subsequent corrections are made to your FAFSA. This option will streamline and expedite the processing of your financial aid application, provided the information retrieved is unaltered. Not utilizing the Data Retrieval option may increase the possibility of verification and require the submission of an official IRS tax transcript to the financial aid office.

To successfully use this option on the 2015-2016 FAFSA application you must:

  • Have a federal tax return filed with the IRS
  • Have a valid social security number
  • Have a Federal Aid Personal Identification Number (PIN)

You will be unable to use this option on the 2015-2016 FAFSA application if:

  • Your marital status changes after December 31, 2014
  • You filed "Married, filing separately"
  • You filed an amended return
  • You filed a foreign tax return

According to the IRS, electronically filed tax return information will be available online from the IRS site in 1-2 weeks after the return has been filed. Data from paper returns will be available in 6-8 weeks.

If on the FAFSA you listed your tax filing status as "Will File" because you had not yet filed a return, please remember to change this status to "Already Filed"  and select the IRS Data Retrieval option once you have actually submitted a federal tax return to the IRS.

New Verification Tax Documentation Requirements

If your FAFSA is selected for verification, and you chose not to use the data retrieval option, you altered the IRS data, or were unable to use the IRS data retrieval due to filing status, you will be required to request a Tax Return Transcript from the IRS and submit it to the Financial Assistance Department.

If you submitted an amended tax return, an Account Summary Transcript will be required in addition to the Tax Return Transcript.

STARTING WITH THE 2012-2013 FAFSA, COPIES OF SIGNED TAX RETURNS CAN NO LONGER BE ACCEPTED FOR VERIFICATION.

Tax filers can request a transcript of their Federal Income taxes free of charge from the IRS online, by phone, or by mail.

To find out how request a copy of your tax transcript, click here.