Can someone PLEASE help me with this??

Question

My FAFSA was filled out by my admissions counseler. They didn't fill in the asset information(because, of course, they didn't have that)and just put in 0s. Well, later I got an asset verification form and me and my parents agreed that what they asked for(value of our farm, the total amount of money in our bank accounts,etc)was none of their buisness. Well, I emailed the college about that and they said that all I would have to do is say that the information that was on the FAFSA was correct. I said that it was in an email. Will I get sued over that???

Answer 1

usually the finaid office asks for W-2's and 1099's and tax returns and anything with capital gains to verify income so if they havent noticed yet they will soon...if you do say that it is correct then it can be considered fraud/ misrepresentation but think about the poor kids who actually need finaid more than you do and who cant get it b/c you lied(or misrepresented yourself) on your forms.

Answer 2

I'm in the UK, so don't understand US tax law. But I think you should get some professional advice, try to find a local tax-lawyer and ask how much he or she would charge for a one hour consultation. These guys often have a good relationship with tax inspectors.

Good luck.