<p>I just found this online:</p>
<p>For 2012-2013 FAFSA submittals the IRS Tool is expected to be available beginning
February 1st, 2012.</p>
<p>BENEFITS OF USING THE TOOL:</p>
<pre><code>Applicants can complete their FAFSA more easily and accurately!
The tool will increase the accuracy in the awarding for student financial aid funds!
Applicants selected for verification can use the tool to update their income information and avoid unnecessary processing delays!
<p>Select this link for a brief tutorial on the FAFSA-IRS Data Retrieval Tool</p>
<p>IMPORTANT CHANGES TO THE 2012-2013 FAFSA PROCESS:</p>
<pre><code>ALL applicants and parents who indicate they have filed a federal tax return will be directed to use the IRS Tool.
Applicants and parents who indicate they will file a federal tax return will receive email communication(s) directing them to use the IRS Tool to update their income information once they have filed their 2011 federal income tax return.
Applicants selected for the verification process will be required to use the IRS Data Retrieval Tool (or) they may choose to request a tax transcript from the IRS which can later be submitted to the Financial Aid Office.
<p>WHEN WILL DATA BE AVAILABLE FROM THE IRS?
Electronic Tax Filers Data will be available within 2 weeks of filing</p>
<p>When will it be available?</p>
<p>The IRS data retrieval tool becomes available for the 2013-2013 FAFSA on February 1, 2012. Some of you out there may be wondering “well what do I do if I file my FAFAS before then?” and here’s the answer: Students who file before Feb 1 can use tax estimates, and file a correction once your taxes are complete. The Department of Education plans to send a email to filers who chose to estimate, as a reminder to go back and update the information. Once your taxes are filed, you can then go in and use the IRS Data Retrieval Tool.</p>
<p>Note: Applicants who use the IRS data retrieval tool and then manually update a field, or who opt out of using it, may be selected for verification. This means you will need to explain why your update is more accurate than what was pulled from the IRS and back it up with documentation.</p>