Fed Financial
Will a student financial aid audit lead to a IRS audit?
What all are they looking for?
Public Comments
- not necessarily, unless you're guilty of financial aid fraud AND tax fraud
- No. Being selected for verification by the Federal Student Aid Central Processing System has absolutely no connection to being selected for audit by the IRS. They are two separate entities that do not have a system in place in which to determine who is being selected in comparison between the two entities. The individuals that are selected for a tax audit by IRS are selected without any consideration of whether they are financial aid applicants and were selected for verification.
- No. FA audits happen all the time.
