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Session 35. Consumer Information: FSA & IRS Expand Collaboration!. 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. Introductions and Topics Covered.

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Consumer information fsa irs expand collaboration

Session 35

Consumer Information: FSA & IRS Expand Collaboration!

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


Introductions and topics covered

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


Who are we what do we do

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)


Federal student aid fsa

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


Fsa customer experience ce

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


Policy liaison and implementation

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, FSA’s involvement in the development, implementation and dissemination of FSA program policy


Irs spec

IRS – SPEC

SPEC’s 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


Communication and liaison

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


Why join forces

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 ED’s external partners


Results and opportunities

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


Irs education credits deductions

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


Irs volunteer programs vita

IRS Volunteer Programs (VITA)

Volunteer Income Tax Assistance (VITA)

Self Preparation Program

Fusion

Stand Alone

Remote

Virtual VITA/TCE


Free filing options

Free Filing Options

  • Free File:

    http://www.irs.gov/uac/Free-File:-Do-Your-Federal-Taxes-for-Free

  • My Free Taxes: http://www.myfreetaxes.com

  • VITA Locator: http://www.irs.gov/Individuals/Find-a-Location-for-Free-Tax-Prep


What s in it for you and your students

What’s 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


What can we do to help you

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


Partnering to streamline the application process

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


Irs data retrieval tool

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

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 transcripts1

IRS Transcripts

  • Basic information from tax return

  • Line by line presentation of tax return

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Irs transcripts availability

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

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 IRS’s preferred Transcript delivery channel

  • www.irs.gov/transcript

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Get transcript

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

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

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

Additional Information

Contact:

[email protected]

[email protected]

[email protected]

E-mail the IRS at [email protected]

Visit www.irs.gov. or www.ed.gov.


Questions

QUESTIONS?


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