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Question of the week

Q.: Is a school required to collect W-2 forms for the verification process?

A.: In most cases, yes. According to 34 CFR 668.57, acceptable documentation for the purpose of the verification of adjusted gross income and U.S. income tax paid includes:

1. "A copy of the income tax return of the applicant, his or her spouse, and his or her parents. The copy of the return must be signed by the filer of the return or by one of the filers of a joint return;
2. For a dependent student, a copy of each Internal Revenue Service (IRS) Form W-2 received by the parent whose income is being taken into account if:
   1. The parents filed a joint return; and
   2. The parents are divorced or separated or one of the parents has died; and
3. For an independent student, a copy of each IRS Form W-2 he or she received if the independent student
   1. Filed a joint return; and
   2. Is a widow or widower, or is divorced or separated."

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