eSignature Declaration of Trust Template Made Easy

E signature declaration of trust template

hello my name is katie c norris with st norris wealth management and in this video we're going to talk about how to use the form 4506 t to request your tax information let's get going [Music] first you can type irs into search engine and go to the irs.gov website scroll to the section where it says get your tax records and click on it scroll down you will see two options request online and request by mail there's also third option that you call 1-800 phone number with the irs and you can request your transcripts when will you fill out 4506 t form if you're applying for a loan as your business loan with sba or maybe getting a mortgage to buy a house you will need to provide a proof that your tax returns been filed and everything is in order one of the fastest and easiest ways is to get your transcripts online you cannot just go as a guest and fill out the information and request your transcripts you're going to have to fill out a specific information in order to create the account with the irs and they have to confirm your identity otherwise you'll not be able to create the account with the mail version you can get transcripts by mail and they usually arrive within five to ten business days also on the website you can download and print out the pdf forms and in some occasions the lending institution your bank for example they will actually provide the forms to fill out let's look at the forms that i've been talking about i should mention that there are three different forms that are all three are 4506 forms there's a standard 4506 form which is request for a copy of your tax return request of a copy so it's basically a picture of your tax return and there's a 4506 t form which is request for transcript of your text return not copy but the transcript it's a line by line printout of your 1040 with 4506t it's free and it's 5 to 10 business days it can be sent only to taxpayers address now let's get to 45 or t line by line make sure you do it correctly and you get your text transcripts on the first try first you have to put your name in line 1a as it's shown on your tax return also you have to provide your social security number if you're requesting your business return you have to provide your employer identification number your ein if you filed a joint return you have to provide your spouse's name exactly as it appears on your tax return and the spouse's social security number next one were a lot of people get some problems and mistakes on the address section here lines three and four line three is your current address could be a po box but it's your current address line number four is your previous address as it's shown on your tax return if it was different from the address on line three if addresses on line three and four are different you have to correct an information with the irs for that you have change of address form 88 22 and 88 22 b if you're changing your business address next number five is the customer file number it's optional number for security purposes and it's up to you if you want to create that number any additional questions that you might have you can read all that on the second portion of the form it has general instructions let's get back to the form effective july of 2019 the irs will mail transcript requests only to your address of record next they'll ask you transcript requested if you looking for your personal tax return you have to put 10 40 in here if you're filling out this form looking for your tax information for your business you will do 1065 in this field for partnership or 1120 for your corporation in the same section 6 you will have 3 options a b and c which is type of tax return transcript you're requesting a return transcript include almost all of the lines on your tax return but not going to reflect any changes say if you're amended to your tax return at some point it's not going to include that information account transcript it will have additional information like your financial status of the account any payments that you made penalties any adjustments and c record of account this will provide the most detailed information that you might possibly have for the current year and the prior three years so this type of request will be in general processed within 10 days for a lot of financial institutions like banks they will want to see 6c so detailed information with all weight penalties and any changes to your tax return line seven it's verification of non-filing which is proof from the irs that you did not file your tax return for the year number eight transcripts of 1099 or your w-2 to be sent along with your tax return transcript section 9 year or period requested you can request the current year and the prior three years on the same 4506t form so you're going to have to put 12 31 2019 and 12 31 2018 12 31 2017 and 12 31 2016. so notice you start with the most recent year and you go down next you have to remember sign this form if you're not going to sign it you're forget or miss uh they're not going to process your request you have to sign a line here date it and provide your current phone number you have the same option for your spouse signature the date and the phone number if you file a joint tax return and you're requesting the information the signature of one spouse is sufficient enough you don't have to both sign the request if you're requesting tax information for a corporation partnership estate or trust your responsible person has to sign the request form and it's very important to put the title saying the situation will have cfo again if you don't include the title it's not going to be processed you're not going to get your information date and include the phone number after you're done filling out your form just run through the numbers make sure that everything looks good and then you can go down to the second page and you will see a chart of addresses based on the state where you locate it you have to send to that specific address much easier way that will save you some time you can simply fax it but notice the fax numbers they also differ depending on the location where you locate it so you have to locate your state in the left column and then look at the corresponding mailing address or the fax number and you're done also you can use 45060 form to request transcripts and if you're going to a new accountant so they will have detailed information and you make sure that everything is correct all your payments been recorded and you don't have any mistakes on your tax returns thank you for watching goodbye