Monday, November 3, 2014

IRS Enhances Transcript Delivery System On-Line!

Accounting Today reports that the Internal Revenue Service currently allows qualified tax professionals, who have a Form 8821, Tax Information Authorization or form 2848, Power of Attorney, on file to now request a client’s account transcript using the Transcript Delivery System.

Get a record of your past tax returns, also referred to as transcripts. IRS transcripts are often used to validate income and tax filing status for mortgage applications, student and small business loan applications, and during tax preparation.

You can download and print your transcript immediately, or request the transcript be mailed to your address on record.

Get Transcript Online button
  • View and print your transcript immediately.
  • Choose among Tax Return, Tax Account, Record of Account, or Wage and Income transcripts or a Verification of Nonfiling Letter.

Get Transcript by Mail button
  • Transcripts arrive in 5 to 10 calendar days.
  • Choose from either a Tax Return or Tax Account.
  • Transcript by Mail is available en EspaƱol.

Form 8821 must be on file with the IRS’s Centralized Authorization File, or CAF, system naming the individual, not the individual’s business, as the appointee for the client, the IRS noted. Transcripts can be requested through the Transcript Delivery System if either Form 8821 or Form 2848 is on file with the CAF.

As a reminder, the IRS pointed out in an email to tax professionals that users must meet the requirements of Circular 230 or be an Electronic Return Originator with five or more accepted returns in order to register and use the Transcript Delivery System, or TDS.

A tax professional must still call the Practitioner Priority Service for all other issues. The IRS said it is currently working on program changes that will eliminate the notice to a client when their tax professional requests a transcript on an account with an identity theft indicator.

Have A Tax Problem?

Contact the Tax Lawyers at 
Marini & Associates, P.A.
for a FREE Tax Consultation

Toll Free at 888-8TaxAid (888 882-9243).

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