Transcript

For Free 4506, you’ll need to complete IRS Form 4506 and mail it to the IRS. There’s a $50 fee (unless you live in a federally declared disaster area) and it can take up to 75 days to process.

This price does not include El Cid preparing a Tax Return. The use of transcripts will help us to help you answer questions pertaining to your status. Transcripts are normally delivered within 15 days from the date the IRS, CAF unit, accepts your power of attorney request. Transcripts provide data submitted to the IRS on your behalf. They also include all past reported data of your previously filed tax returns. The transcript will show Wage and Income – such as forms; W-2, 1099, 1098, 5498, IRA Contribution Information. Transcript shows most line items including your adjusted gross income (AGI) from your original tax return (Form 1040 or 1040A) as filed, along with any forms and schedules. It does not show changes made after you filed your original return. This transcript is available for the current tax year and tax returns processed during the prior 10 years. Current tax year information may not be complete until July of the current year.

To get your transcript we will need the following;

1. Completed and Signed form 2848 (power of attorney for income taxes, only)
2. Your name and address as it appeared on your last filed tax return
3. We will need your daytime phone number
4. Year(s) of transcript you need, example; 2016-2018
5. A copy of your Social Security card
6. A copy of your Driver’s License
7. Your email
7. Any and All notices issued to you by the IRS

El Cid will send you a form that needs to be signed and sent back to El Cid. We will include instructions.

Transcript

An IRS transcript is a summary or overview of your tax return information. IRS tax transcripts are not photocopies of your actual tax return with all the forms and attachments. There are five types, and they include most line items from your tax return, such as your adjusted gross income (AGI), as well as information about your filing status, payments and return type.

Transcripts display only partial personal information, such as concealing all but the last four digits of your Social Security number. But financial and tax information, such as wages and taxable income, is fully visible.

Note: A transcript can show return and/or account data. It also can show changes or transactions made after you filed your original return.

Information about Form 2848, Power of Attorney and Declaration of Representative, including recent updates, related forms and instructions on how to file. Form 2848 is used to authorize an individual to represent another person before the IRS. The authorized individual must be eligible to practice before the IRS.

  • Tax Return Transcript – shows most line items including your adjusted gross income (AGI) from your original tax return (Form 1040, 1040A or 1040EZ) as filed, along with any forms and schedules. It doesn’t show changes made after you filed your original return. This transcript is only available for the current tax year and returns processed during the prior three years. A tax return transcript usually meets the needs of lending institutions offering mortgages and student loans. Note: the secondary spouse on a joint return must use Get Transcript Online or Form 4506-T to request this transcript type. When using Get Transcript by Mail or phone, the primary taxpayer on the return must make the request.
  • Tax Account Transcript – shows basic data such as return type, marital status, adjusted gross income, taxable income and all payment types. It also shows changes made after you filed your original return. This transcript is available for the current tax year and up to 10 prior years using Get Transcript Online or Form 4506-T. When using Get Transcript by Mail or phone, you’re limited to the current tax year and returns processed during the prior three years. Note: If you made estimated tax payments and/or applied an over payment from a prior year return, you can request this transcript type a few weeks after the beginning of the calendar year to confirm your payments prior to filing your tax return.
  • Record of Account Transcript – combines the tax return and tax account transcripts above into one complete transcript. This transcript is available for the current tax year and returns processed during the prior three years using Get Transcript Online or Form 4506-T.
  • Wage and Income Transcript – shows data from information returns we receive such as Forms W-2, 1099, 1098 and Form 5498, IRA Contribution Information. Current tax year information may not be complete until July. This transcript is available for up to 10 prior years using Get Transcript Online or Form 4506-T.
  • Verification of Non-filing Letter – provides proof that the IRS has no record of a filed Form 1040, 1040A or 1040EZ for the year you requested. It doesn’t indicate whether you were required to file a return for that year. This letter is available after June 15 for the current tax year or anytime for the prior three tax years using Get Transcript Online or Form 4506-T. You must use Form 4506-T if you need a letter for tax years older than the prior three years.

Note: A transcript can show return and/or account data. It also can show changes or transactions made after you filed your original return. Transaction codes consist of three digits. They are used to identify a transaction being processed and to maintain a history of actions posted to a taxpayer’s account.

Note: A transcript isn’t a photocopy of your return.