Tip of the Week
Tax Transcript Matrix for 2026-27 Verification now available
Although the number of FAFSAs selected for verification is down, financial aid professionals will, no doubt, appreciate any tool to assist with verification – particularly tax information.
In a July 8 Electronic Announcement, the Department of Education released the 2024 IRS Tax Return Transcript Matrix.
The matrix. available in Excel format for the 2026-27 FAFSA processing cycle, is designed to assist financial aid administrators in mapping the 2024 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:
- 2026-27 FAFSA Information Requiring Verification
- 2026-27 FAFSA Question Number – (Student, Student Spouse, Parent, and Parent Spouse)
- 2026-27 ISIR Field Number – (Student, Student Spouse, Parent, and Parent Spouse)
- 2024 IRS Tax Return Transcript Item
- 2024 IRS Form/Schedule and Line Number
In the announcement, the Department said it has significantly reduced the number of FAFSAs selected for verification with the implementation of the Direct Data Exchange process with the Internal Revenue Service (IRS).
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.
– By Marlene Seeklander
