How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask CGCPA Your Own Question
CGCPA
CGCPA, CPA
Category: Tax
Satisfied Customers: 3820
Experience:  over 40 years experience in tax matters
50756543
Type Your Tax Question Here...
CGCPA is online now
A new question is answered every 9 seconds

I have a friend whose daughter is graduating high school. Her

Resolved Question:

I have a friend whose daughter is graduating high school. Her and her husband didn't do a good job of saving for college. He makes more than her and with both salaries the child isn't eligble for financial aid according to the college calculator. The question she asked was should they oinly use the lesser of the two salaries on the application and the FAFSA and file this years taxe separately?
Submitted: 5 years ago.
Category: Tax
Expert:  CGCPA replied 5 years ago.

Welcome to Just Answer. I am here to help you resolve your tax and finance concerns. Please feel free to ask anytime you need extra help.

 

Filing separate tax returns will not change anything. FAFSA will still look at the incomes of both parents. Listing only one parent's income is fraudulent and will be detected since the FAFSA processing center verifies all data with the IRS. This will cause a complete denial of assistance and could create other, even worse, issues - criminal attempt to defraud. I would not advise doing this.

CGCPA and other Tax Specialists are ready to help you

Related Tax Questions