CARL WATTS & ASSOCIATES

September 23, 2013

www.carlwatts.com
office@carlwatts.com
Washington DC
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You may be a well organized taxpayer who keeps copies from all important tax documents, or not, but there are various reasons why even well organized people may loose documents and, in that eventuality, you will find out here what you can do to get copies of those documents, if needed.

There are a number of situations that call for past federal tax returns, such as obtaining or modifying a home loan, applying for other specific types of loans, getting audited, applying for your kids school, immigrating to the United States, or sponsoring an immigrant to the United States, among other less common reasons.

Whatever the reasons that require a past federal tax return that you no longer have, here is what the IRS advises you to do.


If you need an exact copy of a previously filed and processed tax return and all attachments (including Form W-2), you should complete Form 4506, Request for Copy of Tax Return, and mail it to the address listed in the instructions, along with a $57.00 fee for each tax return requested.


The check or money order for the fee should be made payable to the “United States Treasury,” also enter your SSN or EIN and “Form 4506 request” on your check or money order.


Copies are generally available for returns filed in the current and past six years. Copies of jointly filed tax returns may be requested by either spouse and only one signature is required. Allow 60 calendar days to receive your copies.


Most needs for tax return information can be met with a computer printout of your return information called a "transcript". A transcript may be an acceptable substitute for an exact copy of a return by the U.S. Citizenship and Immigration Services and lending agencies for student loans and mortgages. A "tax return transcript" will show most line items contained on the return as it was originally filed.


If you need a statement of your tax account, which shows changes that you or the IRS made after the original return was filed, however, you must request a "tax account transcript".

Both transcripts are generally available for the current and past three years and are provided free of charge. The period in which you will receive the transcript varies from within five to ten business days from the time the IRS receives your request for the tax return or tax account transcript.

You can obtain a free transcript on the IRS.gov website by going to the Order a Transcript page. Transcripts may also be ordered by calling 800-908-9946 and following the prompts in the recorded message, or by completing and mailing a request for a transcript to the address listed in the instructions.

You could use Form 4506T-EZ, Short Form Request for Individual Tax Return Transcript, to order a transcript of a Form 1040 series return. The IRS created this streamlined form to help those taxpayers trying to obtain, modify or refinance a home mortgage.

Transcripts may also be mailed to a third party, such as a mortgage institution, if specified on the form. You must sign and date the form giving your consent for the disclosure.
Copies of Important Tax
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Businesses, partnerships or individuals who need transcript information from other forms, such as Form W-2 or Form 1099, can use Form 4506-T, Request for Transcript of Tax Return, to obtain the information.

These transcripts may also be mailed to a third party if there is consent for the disclosure.

If you are a taxpayer impacted by a federally declared disaster, the IRS waives the usual fees and expedites requests for copies of tax returns for people who need them to apply for benefits or to file amended returns claiming disaster-related losses.

If you miss information such as your W-2 or 1099-R (distributions from annuities, profit-sharing plans, retirement plans, IRAs, insurance contracts and/or pensions) to file your current tax return by January 31, or your information is incorrect on these forms, contact your employer or payer.

Employers/payers have until January 31 to issue certain informational documents. If you do not receive the missing or corrected form by February 14 from your employer/payer, you may call the IRS at 800-829-1040 for assistance.

You must provide your name, address (including zip code), phone number, Social Security Number, dates of employment, your employer/payer's name, address (including zip code), and phone number. After February 14, the IRS will contact the employer/payer for you and request the missing form.
IRS will also send you a Form 4852, Substitute for Form W-2 or Form 1099-R, along with a letter containing instructions.

If you do not receive the missing form in sufficient time to file your tax return timely, you may use the Form 4852 to complete your return. If you receive the missing or corrected Form W-2 or Form 1099-R after you file your return and a correction is needed, use Form 1040X, Amended U.S. Individual Income Tax Return.


You may be missing other forms 1099 that report interest, dividends, brokerage trades, and self-employment income.

Banks may have tax documents available for downloading from their web site, or you can call their customer service number to get a new 1099 mailed to you.

Your broker will be able to mail you a copy of your 1099 to report stock trading and other investment activity. Or you might be able to download a copy from the brokerage web site.

If you earned more than $600 as a consultant or independent contractor, your client is required to send you a 1099-MISC to report your income. Even if you didn't receive a 1099, you are still required to report the income to the IRS.

As you may have noticed by now, we always advise that you work with a tax professional in any tax situation you may encounter.

Requesting a tax return copy or transcript may seem easy enough for anybody, but having enrolled the services of a tax pro might save you a lot of pain by providing the copies they themselves keep for you as a client.