2019 and 2020 Tax Issues for Financial Aid Officers
Presenter: Robert Weinerman
Director of Training
Iron Bridge Resources, LLC
Even though the 2021-2022 FAFSA won't be released until October 1st, most financial aid officers have had to review 2019 tax returns as they address income adjustment appeals for the spring of 2019-2020 and all of 2020-2021. This webinar will start with a review of the 2019 Form 1040 and Schedules 1, 2, and 3, so aid officers can locate all of the 2020-2021 FAFSA data elements on these forms, and how you can tell if you need Schedules 1, 2, and 3 in 2019. We'll then look at changes to the tax code implemented in 2019 that might impact how you approach these professional judgments. Next, we'll move on to 2020, and review the pandemic related income and tax issues that might help you derive an estimated 2020 income. What exactly are the Recovery Rebates for Individuals, who qualifies for them, and how can people who don't file tax returns get them? How has unemployment changed as a result of the CARES Act, and how can we estimate an annual income a person who'd lost their employment due to the pandemic?
The webinar will focus on the aspects of the CARES Act that impact individuals, not institutions, as aid officers work with their students and families to determine their traditional financial aid eligibilities.
This webinar is free for current SCASFAA Members. Registration will close and the webinar link/information will be emailed at 9AM the morning of the event.