Individuals and companies that need to have copies of their tax returns can easily get it from the Internal Revenue Service (IRS) via toll free phone number or e-mail. The phone number and e-mail address is listed on the IRS website. Users are required to fill an IRS form 4506T, which acts as a request letter for getting copies of tax returns.
Tax return copies are available in two different formats namely tax return transcript and tax account transcript. Tax return transcript is the unedited version of tax returns that contains all line items included in tax return forms such as form 1040, 1040A, or 1040EZ. The transcript does not contain changes made by the tax representative or the IRS when the return was filed. Tax account transcript is different from tax return transcript as it contains all the changes made after filing the return by the tax representative or IRS.
Both the transcripts contain common entries such as taxpayer's personal data including marital status, type of tax return, adjusted gross income, and taxable income. Individuals need these copies to prove their credibility when applying for mortgage or personal loans. Copies of tax returns are also required while applying for student loans.
Companies require copies of tax returns for getting loans from banks and financial institutions. These funds may be used for effecting expansion plans or buying other companies. Company rules and regulations also require companies to maintain complete records of their tax assessments, which may be required as evidence in case the company gets into legal wrangles.
It is necessary to store tax return copies in a proper manner as they might get damaged and become unacceptable to banks and financial institutions while applying for a loan. Users can get duplicate copies by paying the required fee but this usually takes time and should be avoided.
Tax Returns provides detailed information on Tax Returns, Income Tax Returns, Tax Return Filing Preparations, Federal Tax Returns and more. Tax Returns is affiliated with Free Tax Filing.
Article Source: http://EzineArticles.com/?expert=Kristy_Annely
http://EzineArticles.com/?Copies-Of-Tax-Returns&id=429108
