January 29, 2014
The IRS has implemented a new online tool that allows a taxpayer to retrieve, download, and print a copy of their federal return transcript for the three prior years (and current year after it has been filed). This will eliminate the need to wait five to ten days while the IRS mails a copy of the transcript to the taxpayer.
The new Get Transcript application operates as follows:
As we begin the 2014 filing season, here is a reminder about two other IRS online tools that you may find useful:
Where’s My Amended Return?
If the taxpayer needs to file an amended return for the current year or the three prior years, they can now find out the processing status at the IRS.
They may do this by using the IRS look-up tool “Where’s My Amended Return?”. The status will be available on this application three weeks after it was mailed to the IRS.
The following information is available about the amended return once the Social Security Number, date of birth, and zip code has been entered:
First Time Homebuyer Account Look-up
Taxpayers who claimed a first time homebuyer credit of $7,500 in 2008 must repay the credit over 15 years. This is done by showing an additional tax on the taxpayer’s return beginning in 2009.
In order to help the taxpayer keep track of the total amount of credit they claimed, what the yearly repayment amount should be, and the balance remaining to be paid back, the IRS provides a First Time Homebuyer Credit Account Look-Up tool on the IRS website.
2019 Federal Tax Changes
April 24, 2019
When a Rental Activity Can Be Included as Qualified Business Income
March 19, 2019
Safe Harbor Rule for Autos that Claim Bonus Depreciation
February 27, 2019
2018 Federal Return and Taxpayer Expectations
January 30, 2019
Reminder of 2018 Itemized Deduction Changes
January 16, 2019
Qualified Business Income Deduction (20% Deduction for Certain Pass-Through Income)
January 9, 2019