Form 4506-T-EZ: Short Form Request for Individual Tax Return Transcript
The Internal Revenue Service (IRS) Form 4506-T-EZ, also known as the Ez Short Request for Individual Tax Return Transcript, is a simplified way for individuals to request a transcript of their filed tax returns for the current and the preceding three years. This transcript summarizes key information from your tax return but does not provide an exact copy.
What's the Purpose of Form 4506-T-EZ?
There are several reasons you might need to request a tax return transcript:
A. Tax Preparation: If you don't have copies of your past tax returns but need the information to file your current return, a transcript can serve as a reference.
B. Income Verification: Lenders, employers, or government agencies may request proof of income. A tax return transcript can fulfill this requirement.
C. Amending a Return: If you discover errors in a previously filed return, you can use the transcript to gather the necessary information for an amendment.
D. Record-Keeping: While not a substitute for your actual tax return, a transcript provides a backup of key tax filing details.
What Information Does Form 4506-T-EZ Include?
The tax return transcript you receive through Form 4506-T-EZ will display essential information from your original tax return, including:
Filing Information: Your name, Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN), filing status (single, married filing jointly, etc.), and tax year.
Income: Reported wages, salaries, and tips. Interest income, dividends, and taxable distributions.
Adjustments to Income: Deductions and credits claimed on your return.
Taxable Income: Amount of income subject to tax after adjustments.
Taxes Paid: Any federal income tax withheld or paid with the return.
What Information Does Form 4506-T-EZ NOT Include?
It's important to understand that the transcript provided through Form 4506-T-EZ is not a complete replica of your tax return. Here's what you won't find on the transcript:
Supporting Schedules: Detailed breakdowns of income and deductions reported on separate schedules are not included.
Payments: Any payments made after the initial filing, such as estimated tax payments, are not reflected.
Penalty and Interest Assessments: If the IRS assessed penalties or interest on your return, these details won't appear on the transcript.
Is there a fee to use Form 4506-T-EZ?
No, requesting a tax return transcript through Form 4506-T-EZ is a free service offered by the IRS.
How long does it take to receive a transcript?
Processing times for mailed transcripts can range from 5 to 10 business days. Electronically requested transcripts are typically available immediately.
Can I request a transcript online?
Yes, the IRS offers an online service called "Get Transcript of Your Tax Records" where you can request transcripts for the past three years. You'll need to verify your identity using an IRS Secure Access Account or other authentication methods.
What if I need a copy of my complete tax return?
If you require a full copy of your tax return, including all supporting schedules and attachments, you can request it using Form 4506, Request for Copy of Tax Return. However, there's a processing fee associated with obtaining a complete copy.