| Proper planning and organization can make
your road to college or home-buying easier. If you are considering financial aid
to help defray school costs, or if you are applying for a bank loan, you will
likely need a copy of your tax transcript.
High school seniors who plan to attend
college, or current students who plan to continue their college studies, must
fill out a Free Application for Federal Student Aid to determine if they’re
eligible to receive financial aid. Part of this application process is providing
a transcript of your federal tax return information. Most financial institutions
also require copies of tax returns for the mortgage loan application process.
There are two quick and easy options to
request copies of your tax return
transcripts and tax account
transcripts — by phone
and by mail.
To request your free transcripts, call
1-800-908-9946 toll free and follow the prompts in the recorded
message. You should receive your transcript in one to two weeks. You may also
complete
IRS Form 4506T, Request
for Transcript of Tax Return, and mail it to the address listed
in the instructions. Most requests are processed within 30 days, when requested
by mail. You can get a copy of Form 4506T by visiting our website at
www.irs.gov.
Definitions
A
tax return transcript shows most line items from your filed Form 1040, 1040A
or 1040EZ, including any attached forms and schedules. It does not reflect
changes you, your representative or the IRS made after the return was filed. In
many cases, a return transcript will meet the requirements of lending
institutions that offer student loans and mortgages.
A
tax account transcript shows any adjustments either you or the IRS made
after your tax return was filed. This transcript also shows basic data,
including marital status, type of return filed, adjusted gross income and
taxable income.
Other Information
If you
need an exact copy of a previously filed and processed tax return and any
attachments
(including Form W-2), please 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
year requested.
Make the check or money
order for the fee payable to the United States Treasury. Copies are generally
available for recently filed returns and for returns filed within the past six
years. Either spouse may request copies of jointly filed tax returns, or only
one signature is required. Allow up to 60 calendar days to receive your copies.
The form and related information are available on the
IRS.gov.
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