💡 The Frank Takeaways:
- Unfortunately, you can’t adjust the information pulled from the Data Retrieval Tool.
- The DTR works with the IRS website to pull information from the tax forms you need for FAFSA®.
- If you’ll need to adjust your information, it’s better to fill the application in manually.
Tuition reimbursement is a common employee benefit that helps employers invest in their workforce. Let’s take a look at what it is and how it works.
The IRS Data Retrieval Tool (DTR) is used to help students accurately input their tax information onto their FAFSA® application.
What is the Data Retrieval Tool?
The IRS Data Retrieval Tool (IRS DRT) is an electronic process to transfer your tax return information directly to your FAFSA® form.
How to use the Data Retrieval Tool
To take advantage of the Data Retrieval Tool, you or your parents will have had to file a completed U.S. Tax Return with the IRS. You can access the tool on the finances page of your FAFSA® profile.
There will be a “Link to IRS” option, and you will follow the steps directing you to the IRS website. Once authenticated on the IRS website, you will be able to transfer your information to your FAFSA® electronically.
Can you adjust the information pulled with the Data Retrieval Tool?
Due to security purposes, the data retrieval tool does not allow you to change your information. Instead, for completed questions, you will see “Transferred from the IRS.”
What are the benefits of the data retrieval tool?
- This is the easiest way to have your tax return information submitted.
- The Data Retrieval Tool provides the most accurate information as it comes directly from the IRS.
- You won’t have to provide any paper copies of tax returns to your school as everything will be transferred electronically.
- Students who use the DRT are exempt from being chosen for verification.
Using the DRT will save you time and ensure everything is accurate and correct, so take advantage of it.
Now don’t wait any longer. Hurry up and complete your FAFSA®!