Income Tax Information
Tax benefits
The Taxpayer Relief Act of 1997 offers new tax benefits for taxpayers with higher education costs. The Hope Scholarship Credit and Lifetime Learning Credit are two tax credits offered to help defray the cost of higher education. Taxpayers may also be eligible to deduct interest paid on qualified student loans. More information on tax incentives for educational expenses is available on the IRS site.
Tax return
Do you need to file your tax return before submitting a FAFSA application? You can download forms and publications from the IRS site. Or, submit your electronic return.
Tax return transcript
Do you need a transcript of your tax return to fill out your FAFSA? Request a transcript (a free summary of your return) if you do not have an actual copy of your tax return. Either mail in the form to the IRS or call 1-800-829-1040. If you reach an automated voice message, you will hear a list of menu options. Listen for the option which says "for questions about your personal tax records". The transcript should arrive in the mail to the taxpayer address of record within 10 to 15 days.