Tax Return Extensions

Students and/or parents who file tax return extensions (Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax return) with the Internal Revenue Service are allowed to temporarily complete verification for financial aid, during the tax extension period.

In order to temporarily complete verification under this circumstance, the taxpayer who filed the extension may submit the following, in lieu of IRS Tax Return Transcripts:

  • A signed copy of the Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax return; AND
  • One of the following:
    • W2 forms reflecting all income for the tax year in question; OR
    • If self-employed, a signed statement certifying the adjusted gross income and US tax paid for the tax year in question.

All other requested verification documents must be submitted, such as the Verification Form for Dependent or Independent Students, and other required documentation.

Once the Office of Scholarships and Financial Aid has received all of the requested documentation, we will temporarily complete the verification process. We will offer the student financial aid and will allow financial aid to disburse only for the Fall semester, based on this temporary documentation.

It is very important to note that once the October 15th tax filing deadline for taxpayers' granted extensions has passed, the taxpayer who filed the extension MUST provide Tax Return Transcripts as soon as possible. If we do not receive Tax Return Transcripts from the taxpayer that filed an extension by the last day of classes for the Fall semester (December 9, 2016), we will cancel all federal financial aid received by the student for the Fall and Spring semesters. This will result in an immediate balance due to the University. The student will be subject to Spring semester class schedule drop.

Once the final tax transcripts have been submitted, we will re-evaluate the student's eligibility for financial aid and reinstate aid with any required adjustments, if applicable.