1. VERIFICATION 2015 TASFAA ABC Workshop

2. Understand Verification Flag Tracking Groups and Documentation Requirements Easily Identify Verification Data Elements on Tax Documents Obtain Verification Resources Ask Verification Questions

3. 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.

4. Verification Tracking Flag Verification Tracking Group Verification Description V1 Standard Verification Record selected because conditions based on statistical analysis error-prone risk model were met V3 Child Support Paid Verification Record selected for Child Support paid criteria only V4 Custom Verification Group Record selected for Identity criteria, SNAP, and Child Support Paid V5 Aggregate Verification Group Record selected for Identity criteria, “Standard Verification” criteria, SNAP, and Child Support Paid V6 Household Resources Verification Group Record selected for Other Untaxed Income, “Standard Verification,” SNAP, and Child Support Paid

5. High School High School Completion Status HS DiplomaHS Diploma or final HS transcript showing date HS diploma awarded HomeschooledHomeschooled –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 EquivalentRecognized Equivalent –General Educational Development (GED) Certificate –General Educational Development (GED) Certificate; –State certificate received by a student after the student has passed a State- authorized 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

6. 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 notarized –An original notarized statement of educational purpose signed by the applicant

7. Tax Filers –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 Money received or paid on student’s behalf V6 Group Household Resources

8. Non-Tax Filers –Household size –Number in College –Child Support Paid –Tax-Exempt Interest –Other Untaxed Income Payments to tax- deferred pensions and savings plans Child support received Housing, food, and other living allowances Veterans non- educational benefits Money received or paid on student’s behalf

9. Non-Tax Filers AND 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 W- 2s and certifying that the person has not filed and is not required to file a tax return V6 Group Household Resources

10. 2014 Tax Matrix Earnings from WorkEarnings from Work –Wages, Salaries, Tips –Business Income/Loss –Farm Income/Loss Untaxed IncomeUntaxed Income Adjusted Gross Income (AGI)Adjusted Gross Income (AGI) Additional Financial InformationAdditional Financial Information U.S. Income Tax PaidU.S. Income Tax Paid

12. 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$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 informationMust still resolve conflicting information Verification &

13. 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.govwww.irs.gov

14. Consuela Mitchell Assistant Director of Financial Aid Tarrant County College 817-515-1786 consuela.mitchell@tccd.edu