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Automated IRS System Helps College-Bound Students with Financial Aid Application Process

[1]At last, there is hope for college-bound students and their parents that want to make the most of their college experience, including money spent on tuition and time spent on the college financial aid application process. The Internal Revenue Service created a tool that is helping minimize the time spent on the completion of the Free Application for Federal Student Aid (FAFSA) [2] form by automating access to federal tax returns with the IRS Data Retrieval Tool. This tool provides the opportunity for applicants to automatically transfer the required tax data onto the FAFSA form.

Here are some tips on using the IRS Data Retrieval Tool:

In addition to helping reduce the time and effort involved in completing and submitting the FAFSA form through the IRS Data Retrieval Tool, the IRS offers money-saving information to college students and their parents.  Important information regarding tax credits and deductions for qualifying tuition, materials and fees is available at the IRS Tax Benefits for Education: Information Center and in IRS Publication 970, Tax Benefits for Education both of which are available at IRS.gov [3].  If you have any questions regarding the use of this tool, the FAFSA application process, or need a copy of your return that we have prepared, please contact us [4]