2015-2016 Academic Year
Colleges and universities are required to collect your federal tax return information as part of the financial aid application and verification process. In an effort to streamline the collection and processing of your tax return documents, Loyola participates in the College Board's Institutional Documentation Service (IDOC). The process works as follows:
- Upon receipt of your completed 2015-16 PROFILE Application, the College Board will send you a communication (via regular mail or email) which outlines the procedure for submitting your and your parents' 2014 Federal Tax Returns to their processing center.
- The notification includes a Cover Letter and an IDOC Cover Sheet. If the IDOC notification is sent to you by e-mail, you will be directed to a Web site (https://idoc.collegeboard.org) to download the IDOC Cover Sheet. Complete the Cover Sheet and return it with the signed copies of your 2014 Federal Tax Return Form 1040, 1040A, or 1040EZ and your Parents' 2014 Federal Tax Return Form 1040, 1040A or 1040EZ. Include all pages, all schedules, all W-2 Forms and all 1099 Forms.
There are three options you may use to submit your tax return information:
* Upload of electronic versions
* Courier delivery (FedEx, etc.)
* U. S. Postal Service
- If you or your parents file an Income Tax Return in a country other than the United States, you must submit a translated copy of your foreign tax return with reported income information converted into U.S. dollars.
- Do not send copies of state tax returns. Do not send the requested documents to the College Board in multiple mailings. Documents received without a Cover Sheet will be returned unprocessed.
For entering freshmen, the deadline for submitting your tax returns to the College Board is March 5, 2015.
- After the College Board receives your tax return information, the documents will be electronically scanned and the resulting images will be made available to Loyola's financial aid office at a secured Web site that is accessible only by our financial aid staff. Please be assured that your tax return data and images will be stored in a secure environment. The paper copies of your documents will be destroyed.
If you have questions about the Institutional Documentation Service or the Cover Sheet, please call 1-954-622-1484 or e-mail your inquiry to firstname.lastname@example.org. To check on the processing status of your family's documents, go to https://idoc.collegeboard.org and click on the "IDOC" button. Your specific information will be posted approximately five business days after your documents are received for processing.
This procedure allows us to process your tax return information more quickly and more efficiently. We sincerely appreciate your cooperation in complying with this innovative documentation collection process. If you have any questions concerning this procedure, please contact us at 410-617-2576, 1-800-221-9107 or fax 410-617-5149.