Need Transcripts or Tax Return Copies?

Did you know you can send a request to the IRS for transcripts of your current tax return as well as the returns from the past three years? The best part? It is absolutely free! The IRS will not charge a fee for the transcript of the return, which means in case you lose your original forms for any reason, you can simply order transcripts either through its website, www.irs.gov, by phone or mail. If you make the order by phone, you will receive your transcript in approximately five to ten days.
If you want to mail your request, there is a specific Form you will need to complete depending on which Form of tax return you are requesting, such as a 1040 or other type of tax return. The following article gives more details:
http://www.tennesseeestateplanninglaw.com/2011/11/articles/federal-taxes/have-you-ever-needed-a-copy-of-your-tax-return-from-a-prior-year/index.html
The transcript provides line by line details of what was listed on the tax forms. The IRS website sets up two different types of tax transcript requests: Tax Return Transcript and Tax Account Transcript. If you want a copy of the original form sent in to the IRS (without any adjustments or amendments), you would want to request the Tax Return Transcript. If you want the numbers as adjusted or amended, you would request the Tax Account Transcript.
If you want the actual copy of the documents, the fee is $57 for each tax year. If you prefer to request it by mail, complete Form 4506, Request for Copy of Tax Return.
Here is information directly for the IRS: http://www.irs.gov/individuals/article/0,,id=232168,00.html?portlet=105
 

Posted: 11/16/2011 3:16:45 PM by cpacg | with 0 comments
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