which type of Tax transcript to request?

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blkhawk

Registered Users (C)
Hi all,

I am hoping you could help with this question:

I was looking at the IRS form 4506-T which is used to request tax transcripts. The form mentions three types of transcripts: return, account, and record of account.

According to the form:

1. Return transcript has a summary of your tax return as filed with the IRS

2. Account transcript contains info on the financial status of the account and any adjustments made by you or the IRS after the return was files.

3. Record of account is a combination of both.

My 2008 tax return was adjusted by the IRS where I had to make an additional payment. I am not sure which type of tax transcript to request to show as evidence of tax payment during my interview. Should I request the Record of account in my case since there were adjustments made by the IRS or would a standard return transcript be sufficient?

Thank you.
 
blkhawk said:
would that be "account transcript" or "record of account" ?
Thanks.
Click to expand...

Account transcript.

That's what I have selected and mailed it. That was 3 weeks back, still didn't received them. I am going to wait for another week, then try at local IRS office.
-JS.
 
Account transcripts that show original filing amount and any adjustments made after that. Return transcripts only show original filing and are no good (alone) as they potentially show amount due that confuses IO.

Bottomline, Account Transcripts showing zero balance. If balance is not zero (you owe money), explanation letter.
 
I am filling up 4506. The form requires me to indicate if the copies must be certified for court or administrative proceedings. What do I answer? Does it add to the processing time. I have got 14 days left for the interview and IRS states that it may take them 60 calendar days to send information -though the transcripts from 2005 - 2007 were sent within a wekk
 
mazdur_desi said:
I am filling up 4506. The form requires me to indicate if the copies must be certified for court or administrative proceedings. What do I answer? Does it add to the processing time. I have got 14 days left for the interview and IRS states that it may take them 60 calendar days to send information -though the transcripts from 2005 - 2007 were sent within a wekk
Click to expand...

I hope the copies need not be certified. I ordered regular copies and it took nearly 4 weeks for Account Transcripts to arrive. I don't have time to get certified copies now, my interview is also on 8/12.

To save time, you can try walking in to local IRS office with your SSN card, and see if they can provide you with copies right away.
 
Ok here is my understanding about tax transcripts after talking to IRS several times. I got confused by the different postings so had to call IRS
There are three different records
a) Account transcript available for free from IRS (for more than 5 years I believe). Shows balance
b) Tax return transcript: (Availble for current and the past 3 years for free). Not available earlier than that. Detailed line by line entry of the tax return. Fill 4506T to obtain that
c) Copy of tax returns: This is a photocopy of the tax return. Available for $57 for every year.Fill 4506 to obtain that. Only available if paper return was filed for the tax year.

The main issue now left is for 2004 - if electronic taxes have been filed for that year, is the account transcripts sufficient at the interview? The other two (tax return/copy of tax returns ) are not available anyway
 
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