Now Available: 2024-25 FAFSA Verification-IRS Tax Return Transcript Matrix

Institutions now have access to the 2024-25 FAFSA Verification-IRS Return Transcript Matrix to compare data between a selected family’s tax data and the information submitted through the FAFSA application. The matrix is currently available as an excel document and is divided into five specific sections.

Transcription Matrix Breakdown

• Column #1: Lists the nine FAFSA information items that need to be verified
• Column #2: Shows the corresponding FAFSA question numbers for both the student and contributor
• Column #3: Displays the ISIR item numbers from the 2024-25 FAFSA Specifications Guide
• Column #4: States the item names as shown on the IRS Tax Return Transcript.
• Column #5: Lists the line-item numbers from the 2022 IRS 1040 tax return.

* Note: Some items on the transcript may display two or three values. If only one value is displayed on the transcript, that value must be used for verification. If more than one value is displayed on the transcript, the value associated with the item name that includes the words “Per Computer” must be used for verification, which may be different than what was reported by the tax filer.

Federal Tax Information Guidelines

• The IRS is the required tax information source for the FAFSA
• Federal tax information transmitted from the IRS to the FA-DDX is considered verified and no additional documents are required
• Other tax documentation is secondary to the FTI from the IRS, except when an amended return has been filed

Important Reminders

• Verification selection for 2024-25 was greatly reduced because of data consistency issues with the FA-DDX
• Reference to erroneous $1 AGIs and the Post Unemployment Compensation Exclusion Adjustment has been removed from the matrix for 2024-25, since they do not affect 2022 tax returns or tax transcripts.

Additional Resources

• 2024-25 FAFSA Verification-IRS Tax Return Transcript Matrix, in Excel Format, 31KB
• Tax Data Issues Discovered on 2024-25 FAFSA; Webinar Scheduled for Wednesday, April 3 to Address Concerns
• Guidance for 2024-25 Aid Awarding due to affected ISIRs
• Update on FAFSA Reprocessing Timeline, Now April 15 – May 1

SOURCE: (GENERAL-24-108) 2024-25 FAFSA Verification-Internal Revenue Service (IRS) Tax Return Transcript Matrix