<p>I already ordered and have a copy of the 2011 data. We will be deferring doing the taxes due to a situation with dh’s w-2 having an error and him being transferred at the same time. When his transfer is done (within the company) then he will take care of the w-2 issue. Not a big deal. </p>
<p>But now I am worried that the schools will require the FAFSA verification for 2012 at the last second and I won’t have it. How do you know or when do you know if they need that?</p>
<p>Lmkh, if you are doing financial aid for the upcoming year, you need the 2012 data, not the 2011 data.</p>
<p>If you are selected for verification, the school will notify you. If selected via FAFSA, an asterisk would have appeared.</p>
<p>It sounds like you are trying, but IF you are selected for verification, it is imperative that you get the info the school requests to them immediately. No aid will be disbursed to your child until the verification process is complete. Your student should check their student portal for information.</p>
<p>There have been reports on this forum of families who delayed getting verification materials to the schools. The fall term was beginning and they did not have a firm financial aid award.</p>
<p>I dont think there was ever a year when we didnt have to verify.
Yes, I agree, you want to be ready, cause aid will not be released until process is complete.</p>
<p>If you ARE selected for verification, it won’t be complete until you either directly transfer it from the IRS website or provide a tax transcript. The best way to minimize the possibility of being selected for income verification (just a general observation on my part) is to be careful about your taxes paid … if this is “off” (like too high for the amount of income), you are more likely to be selected for income verification. Also … this year, being selected for verification does NOT necessarily mean you will have to provide income info. Verification is now targeted towards particular items on the FAFSA, and not all will be income. You may have an * and be asked to provide something other than income info.</p>