Form 4506 allows individuals to request copies of previously filed tax returns and attachments, such as Form W-2. Churches and individuals alike may need this form to access important financial records for audits, loans, or other purposes. This article outlines how to use Form 4506 and related alternatives.
Key Takeaways:
- Form 4506 provides access to copies of past tax returns for up to six years.
- A $57 processing fee applies for each tax year requested.
- Free transcripts can often meet most informational needs without requiring a full copy of the return.
What is Form 4506 used for? Form 4506 is used to obtain exact copies of previously filed tax returns, including attachments. It is ideal for individuals or entities needing detailed financial records, especially for the past six years.
Steps to Request a Copy of a Tax Return
Follow these steps to request a copy of your tax return using Form 4506:
- Complete the Form: Fill out Form 4506, specifying the tax years for which copies are needed.
- Pay the Fee: Include a $57 processing fee per tax year with your request.
- Submit the Form: Mail the completed form to the address listed in the instructions.
- Processing Time: Allow up to 60 calendar days to receive your copies.
Note: Jointly filed tax returns may be requested by either spouse with only one signature required.
Alternatives to Form 4506: Tax Transcripts
Most informational needs can be met with a free tax transcript rather than a full return copy. There are two types of transcripts:
- Tax Return Transcript: Shows most line items from the originally filed return. Available for the current and past three years.
- Tax Account Transcript: Includes changes made after the return was filed, such as payments and adjustments. Also available for the past three years.
Transcripts are typically sufficient for lending agencies and other institutions.
How to Request a Tax Transcript
To request a transcript:
- Call 800-829-1040 and follow the prompts in the recorded message.
- Complete and mail Form 4506-T (Request for Transcript of Tax Return) to the address in the instructions.
- Download forms from IRS.gov or order by calling 800-829-3676.
Transcripts can also be mailed to third parties if specified on Form 4506-T, with your signed consent.
Special Provisions for Disaster Victims
Taxpayers impacted by federally declared disasters are eligible for expedited processing and a waiver of fees for copies of tax returns. These provisions help individuals apply for benefits or file amended returns for disaster-related losses.
FAQs About Form 4506
- How much does Form 4506 cost?
The processing fee is $57 per tax year requested. - How long does it take to receive a tax return copy?
It typically takes up to 60 calendar days. - What is a tax transcript?
A transcript is a summary of return data, available for free, and often sufficient for most needs. - Can I expedite a request?
Expedited processing is available for disaster victims under federally declared disasters.
Conclusion
Form 4506 is a vital tool for accessing detailed tax records, but in many cases, free transcripts meet the same needs. Understanding your requirements can save time and money. If in doubt, consult the IRS or a tax professional for guidance.
For more information, visit the IRS website or explore resources on Church Law & Tax.