If a student or family is not eligible to complete the Federal Verification process through the IRS Data Retrieval tool, they must submit an IRS Tax Return Transcript to complete federal verification. The IRS Tax Return Transcript is different from the 1040 Tax Return. The Tax Return Transcript is a typed form that can only be completed by the IRS.
IRS Tax Return Transcripts can be requested online or over the phone (1-800-908-9946). Tax filers can expect to receive their tax return transcript within 10 business days from the time the IRS receives and processes their request. St Olaf College does not accept third party requests. While students and families can have the Transcript sent directly to St Olaf, it is often easier and quicker to have it sent home and then submitted to the Financial Aid Office by the family.
When submitting a tax return transcript, be sure to scan every page. The transcripts are often double-sided. Please write the student’s name and student ID # or Social Security Number on the transcript before faxing or emailing the document to our office.
One important thing to note, when submitting the request for the transcript, select the Tax Return Transcript, not the Tax Account Transcript.