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The Verification Worksheet - Dependent form is a form that is requested of a dependent student selected for FAFSA Verification. The form requires information from both parents and students to verify some of the information provided on the students Free Application for Federal Student Aid (FAFSA).
Does FAFSA actually check income?
If you purposely provide false or misleading information on the FAFSA form, you may be fined up to $20,000, sent to prison, or both. Some StudentAid.gov services are currently unavailable.
Does FAFSA get info from IRS?
IRS partnered with the Department of Education (ED) to simplify the online process to apply for Free Application for Federal Student Aid (FAFSA) and Income Driven Repayment (IDR) plans by providing limited tax information necessary to verify income for these programs directly to ED.
What is a V1 standard verification?
V1 or the Standard Verification Group: You must verify the following ISIR data: adjusted gross income (AGI), U.S. income tax paid, untaxed portions of IRA distributions, untaxed portions of pensions, IRA deductions and payments, tax exempt interest Income, education tax credits, foreign income exempt from federal
What is a V4 verification worksheet?
V4 verification requires you to provide identification to your college to prove you are who you say you are. it also requires you provide a statement of educational purpose (SEP)
Schools are also reminded that the IRS is the required source of tax information for the FAFSA form. When Federal tax information (FTI) is received from the IRS via the FA-DDX, the FTI is considered verified and no additional documentation is required.
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