Emergency: Sending colleges your W2/Tax Return

<p>Hey guys, for 2 of my colleges (Lehigh and Villanova) they require that I send them my 2011 Tax Returns and W-2 by February 15th. But what am I to do if my parents do not complete their tax return until April? Do I still send them an incomplete 2011 Tax Return? And if so, how do I go about doing this? Can someone explain the process of sending the school the tax return/W-2?</p>

<p>Please I really need help here.</p>

<p>The deadlines for receipt of documents for financial aid consideration have been on these websites at LEAST since the fall. The year you are an incoming freshman is NOT THE YEAR to wait until April to do your taxes. Schools cannot prepare a financial aid package for you if your required documents are not submitted BY THEIR DEADLINES.</p>

<p>I would suggest you call the schools and ask them what to do if your parents cannot get their taxes done within the deadline timeframe.</p>

<p>I would also show these deadlines to your parents...and see if they can facilitate getting them done ASAP.</p>

<p>RE: sending the returns when they are completed...you have to make a copy of the returns, make sure your parents signatures are on them (if they file electronically, print out a copy of the return and have them SIGN on the signature line before you make your copies). Then you mail them to the correct address for the schools. Make sure you put STUDENT NAME (and then write your name) and STUDENT ID NUMBER (most schools issue applicants an ID number) at the top of EVERY PAGE you send.</p>

<p>I have the 2011 W-2s but not the 2011 Tax Return. I do have the 2010 Tax Return though, can that be used instead?</p>

<p>NO..if the school is asking for 2011 tax returns they want 2011 tax returns. Your financial aid is based on your family tax info from 2011, not 2010.</p>

<p>Please, the best advice will come directly from those schools. Just call them. BUT seriously...see if your parents can get those taxes done ASAP. There are deadlines for a reason.</p>

<p>I think the Feb 15th deadline is a little crazy (my D2 applied to lehigh and I have sent my returns). The problem I can see is if your parents are waiting for a 1099 for investment income. These forms are not legally required to be mailed until 2/15. Luckily I did not have that situation this year.
But if your parents are awaiting these forms you could contact the FA office and ask what to do if this situation applies. It may buy you a little time - meanwhile your parents should start working on those returns. If you have any CSS Profiles with IDOC required for any of your schools that is usually due to IDOC by March 1st.</p>

<p>For Villanova, you need to write a letter (2 years ago we faxed it) and request an extension for submission of the tax info. However, you absolutely cannot defer until April. I would request a couple of weeks at most. As stated above, the school does need time to prepare your package and you will want to receive the FA package with enough time to properly evaluate it along with your admissions decision.</p>

<p>Thank you everyone.</p>

<p>@archiemom - did they accept the letter of extension? How long was it extended for? Did you still receive a good financial aid package? And yes, I told my parents to do the Tax Return ASAP. They are meeting with their CPA on the 17th</p>

<p>IIRC, we asked for a two-week extension so that the date was the same as another school's tax form due date. I do not recall whether we received a reply; I think the letter is just a formality. We did meet that new deadline and received a financial aid package well in advance of May 1st. I'm sorry that I do not recall the exact timing. Our financial aid package from Villanova for the past two years has been very fair and as far as I can tell, Villanova met our FAFSA "need" (EFC) by including grants, Stafford loans and work-study.</p>

<p>I just learned certain 1099s can be delayed in mailing until March 15 according to IRS policy.</p>

<p>One of my kids is a 1099 worker for much of his income. He keeps track of ALL of his earnings himself. While he is supposed to get 1099s from all the folks he works for, this does not happen. He was told he can file his returns without receiving the 1099s...that they are just to verify what he has earned. </p>

<p>He keeps ALL pay stubs, and has a database that he enters this money into when received.</p>

<p>1099s are for investment income. Someone earlier in this thread mentioned the delay. For taxes, you can request an extension from the IRS. If you need your returns done for a school before you have your 1099s, you can file without them, then file an amended return when you get them. I think you have to estimate in your first return and then pay a penalty in your amended return if there is a difference.</p>

<p>Some 1099s are for investment income. Some 1099 forms are for contract workers.</p>