The base year for 2027-2028 is 2025, which was a big year for taxes and tax forms. Form 1040 has been updated and collects a lot more information than it used to. It also reflects a number of tax changes enacted by the OBBBA. In this webinar, we will look at these changes, how they will impact FAFSA processing, and how they may impact some student’s financial aid eligibility.

We will also review V1 verification for 2027-2028, with a focus on changes. The 2027-2028 FAFSA introduces two new fields that are almost certainly going to FAFSA items that must be verified – Combined Adjusted Gross Income and Combined Income Tax Paid. These fields will be used by contributors who file both a federal Form 1040 and a territory tax return. We will therefore look at the territory tax returns and discuss how they, together with a Form 1040 or FA-DDX provided Federal Tax Information, must be used to verify these new combined fields.

And as usual, we will review the V1 documentation requirements and find the verifiable FAFSA data elements on the 2025 tax forms.