VERIFICATION
2015 TASFAA
ABC Workshop
 Understand Verification Flag Tracking Groups
and Documentation Requirements
 Easily Identify Verification Data Elements on Tax
Documents
 Obtain Verification Resources
 Ask Verification Questions
 Group V2 will not be used.
 V6 Group – Household
Resources Verification Group
 Institutions must use exact
language provided in the Federal
Register for the Statement of
Educational Purpose.
Verification Tracking
Flag
Verification
Tracking Group
V1
Standard
Verification
Verification Description
Record selected because conditions based on
statistical analysis error-prone risk model were
met
V3
Child Support Paid Record selected for Child Support paid criteria
only
Verification
V4
Custom Verification Record selected for Identity criteria, SNAP, and
Child Support Paid
Group
V5
Record selected for Identity criteria, “Standard
Aggregate
Verification Group Verification” criteria, SNAP, and Child Support
Paid
V6
Household
Record selected for Other Untaxed Income,
Resources
“Standard Verification,” SNAP, and Child
Verification Group Support Paid
High School Completion Status
•
•
HS Diploma or final HS transcript showing date HS diploma
awarded
Homeschooled
– Transcript or the equivalent, signed by the parent or guardian, that lists the
secondary school courses completed by the applicant and documents the
successful completion of a secondary school education; or
– A secondary school completion credential for home school (other than a high
school diploma or its recognized equivalent) provided for under State law
•
Recognized Equivalent
– General Educational Development (GED) Certificate;
– State certificate received by a student after the student has passed a Stateauthorized examination that the State recognizes as the equivalent of a high
school diploma;
– Academic transcript of a student who has successfully completed at least a
two-year program that is acceptable for full credit toward a bachelor's degree;
or
– For a person who is seeking enrollment in an educational program that leads
to at least an associate degree or its equivalent and has not completed high
school but has excelled academically in high school, documentation from the
high school that the student excelled academically in high school and
documentation from the postsecondary institution that the student has met the
formalized, written policies of the postsecondary institution for admitting such
students
Identity/Statement of Educational Purpose
• Appear in person and present to an institutionally
authorized individual:
– A valid government-issued photo identification (driver’s license,
non-driver’s license, or passport); and
– A signed statement of educational purpose
• Must maintain, an annotated copy of the identification
submitted by the applicant that includes:
– The date documentation was received; and
– The name of the institutionally-authorized individual that obtained
the documentation
• If unable to appear in person, must provide the institution:
– A copy of a valid government-issued photo identification (driver’s
license, non-driver’s license, or passport); and
– An original notarized statement of educational purpose signed by
the applicant
Tax Filers
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V6 Group Household
Resources
Household Size
Number in College
Child Support Paid
SNAP
Adjusted Gross Income
U.S. Income Tax Paid
Untaxed IRA Distributions
Untaxed Pensions
IRA Deductions & Payments
Tax-Exempt Interest
Education Credits
Other Untaxed Income
• Payments to tax-deferred pension and savings
plans
• Child support received
• Housing, food, and other living allowances
• Veterans non-educational benefits
Non-Tax Filers
– Household size
– Number in College
– Child Support Paid
– Tax-Exempt Interest
– Other Untaxed Income
• Payments to taxdeferred pensions
and savings plans
• Child support
received
• Housing, food, and
other living
allowances
• Veterans noneducational benefits
• Money received or
paid on student’s
behalf
V6 Group Household Resources
Non-Tax Filers
 W-2 Form needed for each source of employment
income AND
 Signed statement giving the sources and amounts
of the person’s income earned from work not on W2s and certifying that the person has not filed and is
not required to file a tax return
2014 Tax Matrix
• Earnings from Work
– Wages, Salaries, Tips
– Business Income/Loss
– Farm Income/Loss
• Untaxed Income
• Adjusted Gross Income (AGI)
• Additional Financial
Information
• U.S. Income Tax Paid
• Amended Returns
– Signed copy of 1040X and
– Signed copy of original tax return or IRS transcript (with all data
elements)
• Federal Means Benefits = Verification of Group Household
Resources
• $25 Tolerance for non-dollar amounts
• W-2 and/or Schedule C/C-EZ may be needed for tax filers
• Do NOT accept IRS Verification of Nonfiling letter prior to
June 15, 2015
• Must still resolve conflicting information
• Verification &
Available Resources
• Federal Student Aid Handbook
– Application and Verification Guide
http://ifap.ed.gov/fsahandbook/attachments/1516AVGCh4.pd
f
• NASFAA Ask Regs Knowledgebase
http://askregs.nasfaa.org/ics/support/splash.asp
• Institutional Policies and Procedures
• IRS Publication 17 found at www.irs.gov
Consuela Mitchell
Assistant Director of Financial Aid
Tarrant County College
817-515-1786
consuela.mitchell@tccd.edu