Financial Aid
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You are currently reading a thread in /adv/ - Advice
You are currently reading a thread in /adv/ - Advice
So, I need some advice...
I'm applying for financial aid to a local community college -- going for a quick certificate program, total cost will be about $2000.
So, financial aid requires me to submit some tax forms. I'm an independent so they don't need my parents info. Thing is, I didn't do taxes because I had no income last year. Well, not exactly. I did some side projects and was paid through paypal. I made very little, not enough for paypal to report what I made to the irs. I didn't even think about filing until I found out the 'self employed' minimum is $400.
So, thing is, I've applied for financial aid and have reported zero income for last year (I've stayed with friends the entire time and they've helped me out). I know that a portion of applicants have to go through a verification process to get their aid. Now, what I'm wondering is, is there any way for the financial aid folks to know about the cash I have in paypal? Or will I be fine reporting no income and get my aid to do this certificate program?
Much appreciated.
>Now, what I'm wondering is, is there any way for the financial aid folks to know about the cash I have in paypal? Or will I be fine reporting no income and get my aid to do this certificate program?
If the IRS finds out, financial aid will find out because typically the money you get from fafsa is federal(pell grant/stafford loan) and you'll be liable to pay it back.
Of course, you COULD still amend your taxes and refile your FAFSA submission but this is /adv/ and good advice is for faggots.
>>16950046
This guy sound like an asswipe, but he's right. Chances are that they'll make you go get an income statement from the irs.
Be sure to make an appointment and don't wear boots or you'll have to remove them when going through the metal scanners
Google the number for requesting an appointment
>>16950046
>>16950059
If they make me get an income statement from the IRS, is there any way for the IRS to know or find out about the cash I have in paypal? There is no paper trail connecting me with the people who paid me, it's all on paypal, and paypal doesn't report your income unless you make $20,000 and more than 200 sales.
Or could I just go for an income statement reporting zero income and be fine?
>>16950118
how much above 400 are we talking about? don't fuck around with the irs. it's just not worth it.
>>16950123
A little under 2k. I made it through a few digital artworks.
>>16950132
Same poster, something I want to add -- The year before last, I did the same thing, made about the same amount of money through paypal for a couple of digital artworks. I didn't file that year either and the IRS never contacted me. I believe it's because, as I said, paypal doesn't report income below 20,000k. Is it unreasonable to expect the same result this year while filing for financial aid?
Anyone have anymore advice for me? I'm in a bit of a tight spot right now and would appreciate it. If you have any questions, feel free to ask.
Much thanks.
