| The 4506 tax form is used when taxpayers require a | | | | period. |
| copy of previously filed returns. IRS form 4506 can be | | | | Transcript requests can be obtained by submitting IRS |
| used by authorized third parties to obtain tax records | | | | form 4560-T or by contacting the IRS via phone. |
| for their clients. Third parties include certified public | | | | Summaries generally meet requirements of mortgage |
| accounts, probate executors, lawyers, banks, credit | | | | lenders and providers of student loans. 4506-T |
| unions and mortgage lenders. | | | | transcripts are a quick and efficient way to obtain |
| Third parties submitting 4506 tax form requests must | | | | required documents and generally arrive within ten |
| abide by Internal Revenue Service codes set forth in | | | | business days from the time the Internal Revenue |
| section 6103(e). This section of established IRS codes | | | | Service receives the request. |
| relates to laws of confidentiality and provides guidelines | | | | The IRS limits the number of transcripts to the current |
| for requesting returns of dissolved corporate entities. | | | | and previous three years of filed returns. When |
| Taxpayers and their agents can use IRS 4506 to | | | | taxpayers require more than four years of transcripts |
| obtain all types of previously filed tax forms including: | | | | they will be required to submit a 4506 tax form and |
| 1040, 1120, 941 and 706. Taxpayers may also request | | | | pay for a full statement. The $57 charge will be applied |
| copies of attachments which were submitted with | | | | to each return request. |
| each year's return. These can include W-2 forms, | | | | Income tax return transcripts are required by |
| 1099s, schedules and amended returns. | | | | taxpayers and corporations filing for bankruptcy |
| When taxpayers require multiple returns they must | | | | protection. New bankruptcy laws enacted in 2005 |
| submit a separate IRS form 4506 request for each | | | | require debtors to provide copies of current, amended, |
| years' return request. For example, if an individual | | | | or past due returns filed while their case is pending. |
| requires copies of returns filed in 2001, 2004 and 2006 | | | | In order to comply with Bankruptcy Abuse Prevention |
| they must complete three separate 4506 forms. | | | | and Consumer Protection Act (BAPCPA) |
| Presently, the IRS charges a $57 fee per requested | | | | requirements, debtors must submit tax returns or |
| tax return. Acceptable forms of payment include | | | | transcripts to the bankruptcy court seven business |
| personal or business checks or money orders. | | | | days prior to their 341 creditor meeting. |
| Financial instruments must be made payable to "United | | | | Individuals or corporations planning to file for |
| States Treasury" and include the taxpayer's social | | | | bankruptcy protection that require previous years' |
| security or employer identification number. The IRS | | | | returns should submit Form 4506 a minimum of 90 |
| requires the words, "Form 4506 request" to be | | | | days prior to needing them. The IRS is infamous for |
| included in the memo section of the check or money | | | | moving at a slow pace. Do not risk the opportunity to |
| order. | | | | obtain financial relief by not having required |
| Transcripts are available at no charge. These | | | | documentation. |
| summarized statements only include certain elements | | | | Forms 4506 and 4506-T can be downloaded at no |
| such as gross income, adjusted gross income, and | | | | charge via the IRS website at irs.gov. Payment must |
| amount of return or taxes owed for the specified time | | | | accompany each tax return request. |