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

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and her husband didn't do...
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
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12/1/2011
Tax Professional: CGCPA, CPA replied 5 years ago
CGCPA
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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.

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