Larry Coles (ED), Gregory Ford (IRS), and Tracey Martin (IRS)| Dec. 2013

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Consumer Information FSA IRS Expand
Collaboration!
Session 35

• Larry Coles (ED), Gregory Ford (IRS), and Tracey
  Martin (IRS) Dec. 2013
• U.S. Department of Education Internal Revenue
  Service
• 2013 FSA Training Conference for Financial Aid
  Professionals

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Introductions and Topics Covered

• Larry Coles, Department of Education
• Gregory Ford, Internal Revenue Service
• Share information on the innovative partnerships
  between the IRS and Department of Education and
  how this impacts Financial Aid Administrators and
  students and parents
• Tax Credits and Deductions (Session 34)
• Free Tax Return Preparation Options
• Data Retrieval Tool and Tax Transcripts
• Tracey Martin, Internal Revenue Service
• Share information on the technological
  partnerships between the IRS and Department of
  Education
• IRS Data Retrieval Tool (DRT)
• IRS Transcripts
• 2014 Transcript Service Approach

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Who are we? What do we do?

• Department of Education
• Federal Student Aid
• Customer Experience (CE)
• Policy Liaison Implementation (PLI)
• Internal Revenue Service
• Business Modernization Office
• Communication Liaison
• Stakeholder Partnership, Education
  Communication (SPEC)

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Federal Student Aid (FSA)

• Educate Students and Parents about the Financial
  Aid Process
• Process FAFSA
• Provide Title IV Funding to Schools
• Enforce compliance of Title IV Rules and
  Regulations
• Service Loans and Secure Payments for Defaults
• Operate Information Technology Systems and Tools
  to Manage the Federal Student Aid Process

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FSA Customer Experience (CE)

• Focus/Charge of CE
• Identify, Measure, Report Customer Satisfaction
  with FSA Services and Presentations
• Understand Customer Perceptions
• Identify Ways to Improve
• Be the Voice of the Customer
• Ensure that Needs and Expectations Are Met

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Policy Liaison and Implementation

• Focus/Charge of Policy Liaison
• The Policy Liaison and Implementation Staff serve
  as the principal advisors to the Chief Operating
  Officer (COO) on all FSA program policy issues
  and facilitates, FSAs involvement in the
  development, implementation and dissemination of
  FSA program policy

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IRS SPEC

• SPECs charged as the Outreach Education
  Function of the IRS. Mission
• Help taxpayers satisfy their tax responsibilities
• Build and maintain partnerships with key
  stakeholders
• Create and share value by informing, educating,
  and communicating with our shared customers

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Communication and Liaison

• The IRS and the Department of Education are
  working together to improve our strategy for
  reaching parents and students to inform them
  about the benefits and filing requirements for
  education credits and tuition deductions
• A work group was formed with representatives from
  the IRS, Department of Education, the National
  Association of College and University Business
  Officers, and the National Association for
  College Admission Counseling to enhance our
  communication and outreach strategy

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Why join forces?

• The FSA SPEC partnership focuses on expanding
  current options and seeking new avenues to
  provide individuals in communities with
  information, assistance, and access to relevant
  IRS and Federal Student Aid services by
• Providing needed services to shared underserved
  communities
• Educating students and families on the process of
  obtaining financial aid
• Increasing community involvement to provide free
  tax services and FAFSA assistance
• Expanding and sharing external partnerships to
  get the word out!
• Sharing information about tax credits and
  deductions with EDs external partners

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Results and Opportunities

• Results
• In February 2013, over 5.3 million emails were
  sent to FAFSA filers informing them of IRS tax
  return preparation services
• Opportunities
• Educate IRS VITA partners about the FAFSA
  application and IRS Data Retrieval Tool
• Streamline the financial aid application process
  through cross agency collaboration
• Develop new products and services to support
  joint efforts
• Expand IRS VITA sites and offer joint services

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IRS Education Credits Deductions

• Tax credits and deductions can help parents and
  students with their higher education expenses
• A tax credit reduces the amount of income tax
  someone may have to pay on a dollar-for-dollar
  basis for qualified education expenses
• The American Opportunity Tax Credit
• The Lifetime Learning Credit
• A deduction reduces the amount of income that is
  subject to tax, which generally reduces the
  amount of tax someone may have to pay
• The tuition and fees deduction

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IRS Volunteer Programs (VITA)

• Volunteer Income Tax Assistance (VITA)
• Self Preparation Program
• Fusion
• Stand Alone
• Remote
• Virtual VITA/TCE

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Free Filing Options

• Free File
• http//www.irs.gov/uac/Free-File-Do-Your-Feder
  al-Taxes-for-Free
• My Free Taxes http//www.myfreetaxes.com
• VITA Locator http//www.irs.gov/Individuals/Find-
  a-Location-for-Free-Tax-Prep

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Whats in it for you and your students?

• Online Federal Tax Return completion
• Financial Aid Administrators/Staff can learn and
  share a valuable life skill (tax preparation)
• Students/parents prepare their own tax returns
• Volunteer opportunities for you and your students
  to give back to the local community
• Free tax assistance on college campuses and in
  the community
• IRS free educational websites Link-N-Learn and
  Understanding Taxes

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What can we do to help you?

• Promote FSA and IRS free tax services to targeted
  audience through social media messaging
• Provide partner toll free support for tax return
  preparation
• Provide free tax preparation software
• Provide free Interactive Tax Law Assistance on
  IRS.gov

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Partnering to Streamline the Application Process

• Developing and expanding services to support
  joint FSA and IRS efforts
• IRS Data in an instant
• IRS Data Retrieval Tool (DRT)
• New IRS Transcript Service

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IRS Data Retrieval Tool

• Embedded link within FAFSA on the Web
• Applicants must successfully authenticate using
  information from the filed tax return
• Tax return data is available only after the
  return has posted to the IRS system
• Retrieves specific tax return data from an
  originally filed tax return and displays data on
  applicants browser
• Upon request, transfers the displayed data
  directly in response to specific questions on the
  FAFSA
• IRS Transcript usually not required if data is
  successfully transferred and not modified by
  applicant
• 2014 changes include Language toggle link,
  display of filing status and per computer values

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IRS Transcripts

• Tax Return transcripts
• - Anyone who filed a tax return, including first
  time filers
• Tax Account transcripts
• Anyone who filed a tax return/amended return,
  including first time filers
• Record of Account
• Anyone who filed a tax return/amended tax return,
  including first time filers
• Verification of Non-filing
• Non-filer letter not a transcript
• Information Returns Transcripts (W-2, 1099, 1098,
  5498)
• Anyone who has income that was reported to the
  IRS
• Tax Return Database View (TRDBV)
• Taxpayer who filed an original tax return and can
  not get a normal transcript through other methods
  because of duplicate tax return posting

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IRS Transcripts

• Basic information from tax return
• Line by line presentation of tax return

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IRS Transcripts Availability

• Electronically filed Tax Returns
• 0 balance/refund returns Generally available
  2-3 weeks after the return has been accepted by
  IRS
• Balance due/partial pay returns Generally
  available by end of June or 3-4 weeks after the
  IRS receives the full/final payment
• Paper Tax Returns
• 0 balance/refund returns Generally available
  8-11 weeks after the IRS receives the return
• Balance due/partial pay returns Generally
  available by end of July
• Amended Returns
• Must be filed as a paper return
• Generally available 12 weeks after the IRS
  receives the amended return
• ID Theft Cases
• Must be filed as a paper return
• Generally available 8-11 weeks after the IRS
  receives the duplicate return

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IRS Transcripts Get Transcript

• Get Transcript is a new IRS online service that
  will provide an electronic PDF version of
  official IRS Transcripts, launching early in the
  filing season 2014
• Key features
• For individual filers
• Delivers all available Transcript types and/or
  Letters of Non-Filing
• Accessible after taxpayers authenticate
• Provides immediate display of transcript via PDF
  file users can view, print, and save the file
• Get Transcript is IRSs preferred Transcript
  delivery channel
• www.irs.gov/transcript

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Get Transcript

• Step 1 (Optional) Choose reason for requesting
  transcript. Receive suggestion
• Step 2 Access available Transcripts and/or
  Letters of Non-Filing, organized by type

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Other IRS Transcript Options

• Transcript Toll free telephone line
• Self service 5-10 calendar day delivery to the
  address on file
• 1-800-908-9946
• IRS2Go
• Self service mobile app 5-10 calendar day
  delivery to the address on file
• Available for Android and iOS (Apple) mobile
  devices
• Order a Transcript
• Self service web app 5-10 calendar day delivery
  to the address on file
• http//www.irs.gov/Individuals/Order-a-Transcript
• Form 4506-T
• Manual process up to 10 business days to process
  request and send transcript to the specified
  address
• Third party address identified on Line 5 must be
  very specific

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2014 Service Approach

• Individuals will be directed to the Get
  Transcript application for transcript requests
• IRS will provide transcripts via live assistance
  only in rare circumstances
• This new automated, self service tool will give
  taxpayers immediate access to their tax records.
  There is no phone call or visit required
• IRS employees can focus on more complex taxpayer
  account issues that require person to person
  service
• Existing mobile, web, and phone applications will
  also be available as well as Form 4506-T

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Additional Information

• Contact
• gregory.ford_at_irs.gov
• Eileen.K.Maloney_at_irs.gov
• Larry.Coles_at_ed.gov
• E-mail the IRS at partner_at_irs.gov
• Visit www.irs.gov. or www.ed.gov.

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QUESTIONS?