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It's time to file your 2022-23 FAFSA For 2022-23 FAFSA only, DO NOT REPORT unemployment compensation on your FAFSA if you meet the following criteria.For the 2020 tax year only, the American Rescue Plan (ARP) allowed taxpayers who earned less than $150,000 in modified adjusted gross income (AGI) to exclude from taxable income any unemployment compensation up to $20,400 if married filing jointly and up to $10,200 for all other eligible taxpayers. For tax filers who filed their tax returns prior to the enactment of ARP on March 11, 2021, will have a higher adjusted gross income (AGI) that is now inaccurate. They also might have reported these amounts as untaxed income on the FAFSA. If you meet the above income criteria and have already reported unemployment compensation on your 2222-23 FAFSA as untaxed income or as part of your AGI, you may make a correction to your FAFSA to remove it. Please note that this correction (or any correction) made to your FAFSA may result in your FAFSA being selected for verification where we will be required to request additional documentation to verify the information that you reported. Direct Deposit
Refunds are direct deposited to the bank account that you provide on the AU Access My Finances tab. Please visit the My Finances tab on AU Access - the link is Refunds Fast and Easy. |
