How soon after January 1 should the FAFSA form be sent in? Is it better to wait until the income tax forms have been completed?

Send in the form as soon as possible after January 1. Do not wait until your taxes are done. Although it is better to do your taxes early, it is ok to use estimates of your income, so long as they aren’t very far off from the actual values. You will have an opportunity to correct any errors later. If you wait too long, you might miss the deadline for scholarships and/or campus based aid such as work-study.