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What is a V1 verification worksheet?

Students who are selected for verification will be placed in one of the following groups to determine which FAFSA information must be verified. V1Standard Verification Group. Students in this group must verify the following if they are tax filers: Adjusted gross income. U.S. income tax paid.

What documents are needed for financial aid verification?

How do I prepare for FAFSA verification? Tax transcripts or tax returns showing income information filed with the IRS. W-2 forms or other documents showing money earned from work. Citizenship or immigration documentation, such as your U.S. passport or Permanent Resident card (also known as a green card).

What is a v4 dependent verification worksheet?

Each person signing this worksheet certifies that all the information reported is complete and correct. If student is dependent, the parent whose information was reported on the FAFSA must sign and date. WARNING: If you purposely give false or misleading information, you may be fined, sent to prison, or both.

How many students get selected for FAFSA verification?

In recent years, the U.S. Department of Education (ED) has set goals to decrease overall verification rates. ED verified as much as 38% of FAFSA filers during certain cycles over the past decade. This was down to a low of 17.11% for the first three quarters of the 2021- 22 cycle.

What is required for V1 verification?

Please submit the following documents and information for you and your spouse if applicable: A signed tax return transcript of you and your spouses (if applicable) 2021 IRS tax return, or update your FAFSA to use the IRS Data Retrieval Tool. o Use this link to get a Tax Transcript from the IRS.

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