To amend the Internal Revenue Code of 1986 to permit the disclosure of return information to verify the accuracy of information provided on applications for Federal student financial aid.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to require the Secretary of the Treasury, on request from the Secretary of Education, to disclose to officers and employees of the Department of Education return information with respect to a taxpayer who has submitted to the Secretary of Education the common financial reporting form prescribed under the Higher Education Act of 1965. Requires such return information to be limited to: (1) taxpayer identity information with respect to such taxpayer; (2) the filing status of such taxpayer, and (3) the adjusted gross income of such taxpayer.…