Continue, Changes to the FAFSA® for the 2024-25 school year student What if you get married but not in the tax year required for FAFSA®? The tax year reflected on your FAFSA® may not reflect your current marital status. If you recently got married (or divorced) there are things...
The tax year reflected on your FAFSA® may not reflect your current marital status. If you recently got married (or divorced) there are things to keep in mind.
SAI is the number calculated, with information from the FAFSA, to determine a student's eligibility for college financial aid.
A FAFSA filer can be selected for different types of verification, including related to finances, identity or statement of educational purposes. Colleges may ask for tax return transcripts, among other documents. Some schools have their own form for students to fill ...
Tax Rules for Giving or Getting Cash Rules and reporting requirements depend on whether the cash is income or a gift, how much money changes hands and if you're the giver or receiver. Maryalene LaPonsieJan. 6, 2025 12 Financial New Year's Resolutions ...
2025 Tax Write-Offs Taking time to learn about key tax credits and deductions can help you save hundreds of dollars or more each year. Kimberly LankfordJan. 21, 2025 What to Know About TikTok If you rely on the platform for income and recognition, take action now to mitigate loss should ...
A tax transcript is a tax document you request from the IRS that summarizes tax and personal information from a given tax year. Transcripts are used as proof of income for mortgage lenders or government program applications, as identity verification, or simply as a backup if you lose your copy...
By Mark Kantrowitz March 20, 2024 Note: Beginning with the 2024-2025 school year FAFSA, which opened in December 2023, the Student Aid Index (SAI) will replace the expected family contribution (EFC). The SAI will be listed on your FAFSA Submission Summary, replacing the Student Aid Report...
Keep records for three years if situations (4), (5), and (6) below do not apply to you. Keep records for three years from the date you filed your original return or two years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you...
$2,500 is taxed at the parent'stax rate. If such an election isn't made or if the child’sunearned incomeexceeded $2,500 at the end of the tax year, the minor would have to file a tax return subject to “kiddie tax” rules.8 ...