Answer
The FAFSA uses what is called Prior/Prior year tax information. That means the taxes used for the FAFSA aren't from last year but the year before that. For example, the 2023-2024 FAFSA uses the 2021 taxes, not the 2022 taxes.
Due to the IRS allowing for extensions, the previous year's tax information is sometimes unavailable. Using prior prior year will allow more students and families to complete the FAFSA using income information imported directly from the IRS because the taxes will have already been filed and processed.
Due to the IRS allowing for extensions, the previous year's tax information is sometimes unavailable. Using prior prior year will allow more students and families to complete the FAFSA using income information imported directly from the IRS because the taxes will have already been filed and processed.
* Bureau of Labor Statistics (BLS), U.S. Department of Labor, Occupational Employment and Wage Statistics 2022 / Occupational Outlook Handbook 2022. BLS estimates do not represent entry-level wages and/or salaries. Multiple factors, including prior experience, age, geography market in which you want to work and degree field, will affect career outcomes and earnings. Herzing neither represents that its graduates will earn the average salaries calculated by BLS for a particular job nor guarantees that graduation from its program will result in a job, promotion, salary increase or other career growth.