IRS Data Retrieval
What has been your students/parents' experience with the IRS Data Retrieval? Do you believe this has been a beneficial process for most of your students?
In my opinion the IRS Data Retrieval tool is extremely useful to our student body and their parents.
First, the turnaround is very fast. As long as the student remember the address that was used when the taxes were files and with what status, the information is available almost instantaneously. This allows us to process all the paperwork in a timely fashion.
Second, many students do not have access to their tax transcript for a multitude of reasons. This delays everything for them since without income information we are unable to complete the FAFSA. Having their tax information available with just a few clicks of the mouse makes it painless and avoids the many steps that a student and his/her parents would have to undertake in order to get a copy of their tax transcript.
Finally, the IRS Data Retrieval allows the student to do everything on the same day and allows the financial aid office the guarantee that follow up appointments to complete just one step will not be required.
I am curious to know if anyone has had an experience where a student did not want to use this tool and would rather use the information available to a tax transcript?
Gisela, Totally agree with you. More and more students and parents are utilizing the IRS Data Retrieval process which has provided a great benefit to both the student and parent and the school. It has eliminated errors in areas and made the whole process more efficient for all.
Regards,
David McGuffee
Our school loves the IRS retrieval. It saves a lot of time because we don't have to request tax transcripts and we don't have to enter the tax information manually
Elaine,
As FA Administrators we all hear complaints about the complexity of the process; however, we have to do our best to make students and parents understand why and how this protects the TIV programs. It can be a difficult situation but it has been my experience once they understand most are willing to comply.
Best wishes with your continued online education.
Sincerely, Chyrl
Chyrl Ayers
It is great. But we have alot of students and parents who get frustrated with the entire verification process. Complaining.
Elizabeth,
I agree 100% when the IRS Data Retrieval Tool works it is a great asset to students and parents. Plus, you nailed the downside the address information does take otherwise students out of the mix to receive this perk.
Respectfully, Chyrl
Chyrl Ayers
I Love the IRS retrieval tool...when it works (IRS site is often down). This makes is very easy and accurate. The only downside is the address information needs to be exactly what is reflects on the tax return. Missing an APT number or mis-spelling can cause you to get locked out.
Jennifer,
It does appear that students and parents are utilizing the IRS DRT and this has been a benefit to the process. It has eliminated errors in these areas and made the process more efficient for all.
Sincerely, Chyrl
Chyrl Ayers
Most of the parents have preferred the IRS data retrieval tool as they feel it is more secure and quicker to enter their information.
Allison,
I agree with your assessment it is an excellent tool and works well for most students. As the usage grows I am sure we will continue to see improvements in the tool and requesting tax transcripts from the IRS. Your thoughts are well thought out on the overall process.
Sincerely, Chyrl
Chyrl Ayers
I feel the Data Retrieval tool has been very successful. I do get some negative feedback in regards to students being unable to use the tool even when they are in fact entering the correct information. For the most part though, it has been beneficial in the sense that the student does not have to go through the hassle of obtaining their transcript through the IRS directly.
The IRS date retrieval tool is fantastic. It limits errors, students do not have to obtain tax transcripts and we feel confident the EFC is legitimate.
Many of my students have difficulty with the feature. Many do not remember if they even filed a return for the relevant year, much less their filing status and address.
Claudia,
I believe most of the participants in this forum have found the IRS DRT to be beneficial to those students and parents that are able to use it. It is good to hear that the overall experience has been positive for your students. The students' experience in the Federal Student Aid process is very important to their success.
Sincerely, Chyrl
Chyrl Ayers
Yes, i believe that the implementation of the IRS Data Retrieval Tool has been beneficial for the verification process making it simpler and faster for students, parents and FAAs. I remember many occations when the students cound not locate their tax forms...:(. The response from the IRS to make the transcripts available to the students have been relatively positive in our school considering it's a new and masive task for the IRS. There has been only a few instances however, where the students will need to call a second time to request their transcripts.
Donn,
Other participants agree with your on the effectiveness of the IRS Data Retrieval process; however, they do have issues with students' prior calendar year addresses. Many students (and parents) move and do not remember the address they used when filing in the prior calendar year. In the long run the IRS DRT has improved the process from many students and parents.
Sincerely, Chyrl
Chyrl Ayers
For the most part I am very pleased with the IRS data retrieval process. As the process becomes more mainstream, verification should become much easier. One problem some of my students have had is when they are not sure how they should enter their address into the IRS data retrieval request form. An error in address causes the IRS to refuse the request. Another problem involves the non-delivery of the tax transcript. Although the timeframe is supposed to be a short period of time, some of my students have had to order the transcript more than once.
Mazoe,
I think most of us in the FA Community recognize the benefit that IRS DRT has brought to the overall process and the reduction in collecting documents related to verification.
Sincerely, Chyrl
Chyrl Ayers
Garnett,
IRS DRT has been beneficial with the accurate reporting of tax information. Do most of your students select the IRS DRT or does your FA Office have to encourage this activity?
Sincerely, Chyrl
Chyrl Ayers
