Prepare Your 2018 Tax Documents For 2019 Filing Season
October 15, 2019, is the due date for filing for 2018 tax return. Today the IRS encourages taxpayers always have a copy of their tax returns and backing documents partly of three years. Sure key information from their previous year return may be necessary to file in 2019. Frequently previous tax information is vital to file a present year tax return and to help answer some questions from the IRS. Taxpayers should keep their tax returns and documents for a minimum of seven years. If they are claiming definite securities or debt losses.
Currently, the IRS has already updated its Get Ready Page accompanying by steps ready for upcoming filing season.
.The first time users of tax filing software they are required to adjusted gross income (AGI) amount from their previous year’s tax return to confirm their identity. Find out more at Validating Your Electronically Filed Tax Return. Taxpayers should first check their software provider or tax preparer if they want a copy of their tax return. They can get a free tax transcript from the IRS, or for a fee, order a copy of their tax return and includes AGI. The tax transcript is applicable for the past 3 tax years. Plan as early as possible. Delivery times for online and phone orders typically take 5 to 10 days from the time. The IRS accepts the request. Taxpayers who order by mail should allow 30 days to receive transcripts and 75 days for tax returns.
Here’s how there are 3 ways to order a transcript:
v Through Online – the Taxpayers can avail Get Transcript Online on IRS.gov to look, print or download a copy of all transcript types. Those who avail it must validate their identity and establish an account using the Secure Access process. Please grant 5 to 10 calendar days for delivery.
v Through phone – Call 800-908-9946.
v Through mail – the taxpayers who are inadequate to register or choose not to avail Get Transcript Online may avail Get Transcript by Mail. Taxpayers can complete and send the IRS either Form 4506-T, Request for Transcript of Tax Return, or Form 4506-T-EZ, Short Form Request for Individual Tax Return Transcript. Use Form 4506-T to request other tax records: tax account transcript, a record of account, salary and income and authentication of non-filing. These forms are available on the Forms, Instructions and Publications page on IRS.gov.
Presently the IRS is revised tax transcripts so that delicate information. Like the taxpayer’s name, address, and Social Security number, is party covert. Nevertheless, all financial entries, like the adjusted gross income, are visible. The revised transcript will better protect taxpayers from identity theft.