Dealing with Lost Tax Returns
Tax returns are the ultimate out of sight, out of mind documents. We stress out preparing them and filing our taxes. Once that is done, however, we set them aside and hope we never need to see them again. Sooner or later you will need to look at one, but what if you can't find it?
Why would you need to look at tax returns again after filing them? Well, the worst reason is you get audited. Assuming that doesn't happen, you may need them to show them to a new accountant or tax professional. Alternatively, you might need them to prove your finances for a home, car or business loan. The possibilities are practically endless.
Losing your return is bad news, but not the end of the world. The bad news is your private information is on that return. You really don't want your social security number, address and legal name just floating around in the public arena. As for a replacement for the return, that actually isn't a big problem. Your friends at the IRS are willing to help.
The IRS keeps everything you file. There are vast warehouses full of documents. It is slowly being digitized. Regardless, your tax returns are in there somewhere. You can get at them by ordering copies from the Agency. You just need to file Form 4506 and pay a nominal fee. It will take roughly a month or two to get the copies back.
You can actually request different forms of the return from the IRS. You can get a "return transcript" that covers most of the line items on a tax return, but not all of it. Why do this? The request is processed in only 10 days. Account transcripts are also available. They show everything you've paid, if you've been assessed penalties and other transactions between the IRS and yourself. Finally, there is a record of account which is essentially a combination of the previous two items.
Losing a tax return is a pain in the derriere, but it is not the end of the world. The IRS can usually provided you with a record of what has been filed, but keep in mind it could take a bit to get it.
Why would you need to look at tax returns again after filing them? Well, the worst reason is you get audited. Assuming that doesn't happen, you may need them to show them to a new accountant or tax professional. Alternatively, you might need them to prove your finances for a home, car or business loan. The possibilities are practically endless.
Losing your return is bad news, but not the end of the world. The bad news is your private information is on that return. You really don't want your social security number, address and legal name just floating around in the public arena. As for a replacement for the return, that actually isn't a big problem. Your friends at the IRS are willing to help.
The IRS keeps everything you file. There are vast warehouses full of documents. It is slowly being digitized. Regardless, your tax returns are in there somewhere. You can get at them by ordering copies from the Agency. You just need to file Form 4506 and pay a nominal fee. It will take roughly a month or two to get the copies back.
You can actually request different forms of the return from the IRS. You can get a "return transcript" that covers most of the line items on a tax return, but not all of it. Why do this? The request is processed in only 10 days. Account transcripts are also available. They show everything you've paid, if you've been assessed penalties and other transactions between the IRS and yourself. Finally, there is a record of account which is essentially a combination of the previous two items.
Losing a tax return is a pain in the derriere, but it is not the end of the world. The IRS can usually provided you with a record of what has been filed, but keep in mind it could take a bit to get it.