Although the 2024-25 FAFSA processing cycle has been underway for months, the Department of Education has just released the 2022 IRS Tax Return Transcript Matrix.
The August 29 Electronic Announcement includes the 2022 IRS Tax Return Transcript Matrix in Excel format.
The matrix is designed to assist financial aid administrators in mapping the 2022 IRS Tax Return Transcript information to the FAFSA/ISIR data since the IRS Tax Return Transcript doesn’t include line or item numbers.
The matrix consists of five columns:
- 2024-25 FAFSA Information Requiring Verification
- 2024-25 FAFSA Question Number – (Student, Student Spouse, Parent, and Parent Spouse)
- 2024-25 ISIR Field Number – (Student, Student Spouse, Parent, and Parent Spouse)
- 2022 IRS Tax Return Transcript Item
- 2022 IRS Form/Schedule and Line Number
The Department reminds schools that they have significantly reduced the number of FAFSAs selected for verification for the 2024-25 award year.
When the Federal tax information (FTI) is received from the IRS via FA-DDX, the information is considered verified, and no additional documentation is required. If a school receives tax returns or transcripts from an applicant, this information is secondary to the FTI provided by the IRS via the FA-DDX, except when an applicant or contributor has filed an amended return.
