If you don’t use the DRT…then you better plan right now to order a tax transcript…because the colleges WILL want some way to verify that the info manually entered on the FAFSA was indeed the same as your tax form.
And if you tax form is accurate, there shouldn’t be an issue using the DRT. The biggest thing is folks who do rollovers…they need to make sure to note that correctly on the FAFSA. There is a separate question relating to that.
Why? What reason do you have for thinking that the information transferred by the IRS is not accurate?
If you do the manual entry and get an EFC, and then use the DRT and get the same results, then you’ll know the information transferred correctly.
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I agree 100% with thumper1, “If you didn’t use the DRT, then yes…get that tax transcript…now.”
Based on my experience with a large private university, I recommend you get a IRS Tax Transcript or IRS Verification of Non-filing Letter for both the student and parent(s), whichever is appropriate, whether you used the DRT or not.
Joe
The only year I needed a tax transcript was when I appealed the award due to a change in income.
twoinanddone, Excellent suggestion!
BelknapPoint, To answer you question, I need to quote an FSA document and as soon as I can find it in my electronic folders, I will reply.
Joe
Yes, an excellent suggestion. Or, you can use the DRT first and then run your numbers by hand through the applicable FAFSA EFC formula and make sure that you get the same EFC. It’s not rocket surgery.