Retail Observer

RETAILOBSERVER.COM OCTOBER 2016 76 F I N A N C E S I R S T A X T I P S Y ou should always keep a copy of your tax return for your records. You may need copies of your filed tax returns for many reasons. For example, they can help you prepare future tax returns. You'll need them if you have to amend a prior year's tax return. You often need them when you apply for a loan to buy a home or to start a business. You may need them if you apply for student aid. If you need a copy of your tax return and you used software to prepare it, you can print a copy from your software. If you can't find your copies, the IRS can give you a transcript of the information you need, or a copy of your tax return. Here's how to get your federal tax return information from the IRS: • Transcripts are free. You can get them for the current year and the past three years. In most cases, a transcript includes the tax information you need. • The quickest way to get a copy of your tax transcript is to use the Get Transcript Online. • Once you successfully verify your identity, you will be able to view and print your transcript immediately online. This Fact Sheet provides details on how to complete this step. • If you're unable or prefer not to use Get Transcript Online, you may order a tax return transcript or tax account transcript using Get Transcript by Mail or request it by phone. Your transcript will arrive at the address we have on file for you in 5 to 10 calendar days from the time the IRS receives your request. – To order by phone, call 800-908-9946 and follow the prompts. – If you're a business owner and need a tax account transcript for the business, you should use Form 4506-T, Request for Transcript of Tax Return. • A tax return transcript is a summary of the tax return that you filed. It also includes items from any accompanying forms and schedules that you filed. It doesn't reflect any changes you or the IRS made after you filed your original return. • A tax account transcript includes your marital status, the type of return you filed, your adjusted gross income and taxable income. It includes any changes that you or the IRS made to your tax return after you filed it. • If you need a copy of your filed and processed tax return, it costs $50 for each tax year. You should complete Form 4506, Request for Copy of Tax Return, to make the request. Mail it to the IRS address listed on the form. Copies are generally available for the current year and past six years. You should allow 75 days for delivery. • If you live in a federally declared disaster area, you can get a free copy of your tax return. Visit IRS.gov for more disaster relief information. Below are links to help you find the information you need. IRS.gov • Tax Topic 156 : Copy of Your Tax Return–How to Get One www.irs.gov/taxtopics/tc156.html ) • IRS Tax Forms and Publications (www.irs.gov/forms-pubs) • IRS Tax Tips (www.irs.gov/uac/irs-tax-tips) • Tax help and info on various topics including: –Common tax scams (www.irs.gov/uac/tax-scams-consumer-alerts) –Taxpayer rights (www.irs.gov/taxpayer-bill-of-rights) and more. IRS YouTube • How to Use Get Transcript Online: English (www.youtube.com/watch?v= pASG585PM5A) On Twitter? Send these Tweets: • Get Transcript is available on IRS.gov (www.irs.gov) With enhanced authentication process (www.go.usa.gov/chqnx) • Use the #IRS Get Transcript Online tool. (youtu.be/pASG585PM5A) NEED A PRIOR YEAR'S TAX RETURN? Requesting a transcript or copy is easy RO

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