<p>It is perfectly ok to fill out the FAFSA with last years tax return information
(2006).
Very few families have filed income tax forms for 2007 yet. The federal government assumes that incomes don’t change extremely from year to year for most families.
In fact, with a 2/15 deadline each year, it is nearly impossible to get them 2007 information by then. The government acknowledges this. In April, when your return is complete, log on and change info to 2007’s accuracy. You will be surprised that it will only change a few boxes on an interminably long form.</p>
<p>It is very important to simply fill out your form with your last tax return info.</p>
<p>But it is equally important to retain the password ID numbers both for yourself and your student. This is the issue that can hold you up as you need the ID numbers for use of “signatures” when you send the documents on-line.</p>
<p>Put your ID’s in safe place for use year to year. The government gives you the same ID’s to use for all 4 yrs of undergrad and grad school as well.
If you lose these numbers, it takes a week or more by snail mail/ or on-line to replace and can hold you up in the future.</p>
<p>Yes Do the FAFSA right away after Jan 1. Don’t stress about tax return info not being filed yet. The government doesn’t stress why should we?</p>