<p>We already submitted FAFSA and CSS Profile for DS with estimated values. How much of an impact it would have on DS’s financial aid prospects if we chose to paper file this years tax returns? He is a continuing student.</p>
<p>It doesn’t matter HOW you file your IRS tax return. Regardless of how you file (electronically or by paper), make sure you keep a copy of the WHOLE return for your records in case you are asked to send a copy.</p>
<p>It takes longer for the paper return to be available for a direct link on the FAFSA. Most schools package based on the “will file” status, and you can link when the return is ready on the IRS site. It may or may not make a difference. If you are selected for verification & the item being verified is something from the return, you will need to do a direct link (2012-13 regulations). So verification could be held up. Again, it may or may not make a difference.</p>
<p>If possible, it is a good idea to file electronically. If there is some particular reason you can’t or don’t want to do that, then do what is best for you.</p>