Around 30-40% of students who complete the FAFSA get flagged for verification. Verification is a process used to verify certain information on the FAFSA to ensure its accuracy. Some students are selected for verification by the U.S. Department of Education. Others are selected by the school. Verification is conducted by college and university financial aid offices - not FAFSA or the federal government. During verification, the college financial aid administrator will ask the student to supply copies of documentation, such as parent and student (if applicable) income tax returns, W-2 statements and 1099 forms.
You will NOT receive a financial aid package without going through the verification process. I encourage you to check your email frequently from the colleges you’ve been accepted to as they (financial aid counselors) will explain the steps. Often, they will ask for a tax transcript.