C. The IRS Data Retrieval Tool allows you to view and transfer your tax information directly into your FAFSA form
Further Explanation:
FAFSA is the abbreviation of Federal Application for Student Aid. In the US, undergraduate, as well as graduate college students (current as well as prospective), fill a form to ascertain their eligibility for their financial assistance. It is an application used by practically all two and four-year universities, colleges, and career schools for granting Federal, state, and college-funded student aid.
In the above given options, A (You can only apply online) is incorrect since you can also submit paper applications; however the processing just takes a little longer. Option B (The earliest you can submit your FAFSA application is December 1st.) is also incorrect since the start date for applications is 1st October. As statement A & B are incorrect, hence option D (Both A & B are true) is also wrong.
Hence, the correct Answer is The IRS Data Retrieval Tool (IRS DRT) allows you to view and transfer your tax information directly into your FAFSA form. The IRS Data Retrieval Tool permits scholars as well as their parents who have registered for the U.S tax return with the (IRS) Internal Revenue Service to receive the tax return data required to complete the Free Application for Federal Student Aid (FAFSA) and transport the data undeviating into their FAFSA.
The IRS DRT enables you to securely transfer actual IRS tax return data, but not Form 1040X amended tax return data. If you register for the Form 1040X amended tax return, you may require working with your Financial Aid Administrator to ensure that any information you edited on Form 1040X is presented in the amounts transferred to your FAFSA.
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Answer Details:
Grade: Secondary
Subject: English
Keywords: Free Application for Federal Student Aid, FAFSA, IRS Data Retrieval Tool, FAFSA form, tax information, Federal Application for Student Aid.
