A Note about Supporting Tax Documents:
Employers are required to provide W-2s to their employees by January 31. FACTS needs to receive your W-2 by the due date for financial aid supporting documents, which is February 12. TWS will issue our financial aid decision based on the W-2 information, but the award amount is not final until FACTS receives and reviews your 2009 Tax Return and verifies your application based on the return.
95% of the time there should be no change to the award amount based on the Tax Return verification. However, if the 2009 Tax Return has new information (such as additional sources of income) that changes FACTS’ recommendation, then the financial aid award may need to be adjusted.
Therefore, if you have additional sources of income other than W-2 income, we urge you to send FACTS the documentation related to that “other” income (such as K-1’s, 1099’s, etc) by February 12 as well. If possible, please complete your tax return and submit it to FACTS by February 12. However, if that is not possible, then your initial financial aid amount (described in your award letter) may need to be adjusted upon receipt of your 2009 Tax Return.
Employers are required to provide W-2s to their employees by January 31. FACTS needs to receive your W-2 by the due date for financial aid supporting documents, which is February 12. TWS will issue our financial aid decision based on the W-2 information, but the award amount is not final until FACTS receives and reviews your 2009 Tax Return and verifies your application based on the return.
95% of the time there should be no change to the award amount based on the Tax Return verification. However, if the 2009 Tax Return has new information (such as additional sources of income) that changes FACTS’ recommendation, then the financial aid award may need to be adjusted.
Therefore, if you have additional sources of income other than W-2 income, we urge you to send FACTS the documentation related to that “other” income (such as K-1’s, 1099’s, etc) by February 12 as well. If possible, please complete your tax return and submit it to FACTS by February 12. However, if that is not possible, then your initial financial aid amount (described in your award letter) may need to be adjusted upon receipt of your 2009 Tax Return.