{"id":2905,"date":"2021-10-21T13:26:22","date_gmt":"2021-10-21T13:26:22","guid":{"rendered":"http:\/\/wordpress.thetruthtoledo.com\/?p=2905"},"modified":"2021-10-21T13:26:22","modified_gmt":"2021-10-21T13:26:22","slug":"taxpayer-advocacy-panel-tap-3","status":"publish","type":"post","link":"https:\/\/wordpress.thetruthtoledo.com\/index.php\/2021\/10\/21\/taxpayer-advocacy-panel-tap-3\/","title":{"rendered":"Taxpayer Advocacy Panel (TAP)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0"},"content":{"rendered":"<p><strong>Want to improve the IRS? <\/strong><strong>SPEAK UP <\/strong><\/p>\n<p><strong>By Andrea Price, TAP member representing Ohio<br \/>\n<\/strong><strong>The Truth Contributor<\/strong><\/p>\n<p>The Taxpayer Advocacy Panel comprises civic-minded citizen volunteers from all walks of life representing each state, D.C., Puerto Rico, and an international member (citizens living, working, or doing business abroad). TAP is a Federal Advisory Committee whose mission is to listen to taxpayers, identify taxpayers\u2019 issues, and make suggestions for improving the IRS service and customer satisfaction.<\/p>\n<p>Everyone has something to say about taxes and the IRS. Please take a moment to give us your suggestions for TAP to consider by contacting one of the following:<\/p>\n<p>TAP Ohio member: <a href=\"mailto:tapohioandreaprice@gmail.com\">tapohioandreaprice@gmail.com<\/a><\/p>\n<p>Call toll-free at:1-888-912-1227<\/p>\n<p>Website: <a href=\"http:\/\/www.improveirs.org\">www.improveirs.org<\/a><\/p>\n<p><strong>National Taxpayer Advocate Erin M. Collins Blog-Decoding IRS Transcripts and the New Transcripts Format, October 5-6, 2021<\/strong><\/p>\n<p>Many individuals may not know they can request, receive, and review their tax records via a tax transcript from the IRS at no charge. Transcripts are often used to validate income and tax filing status for mortgage applications, student loans, social services, and small business loan applications and for responding to an IRS notice, filing an amended return, or obtaining a lien release. Transcripts can also be useful to taxpayers when preparing and filing tax returns by verifying estimated tax payments, Advance Child Tax Credits, Economic Income Payments\/stimulus payments, and\/or an overpayment from a prior year&#8217;s return.<\/p>\n<p>The IRS maintains records for all taxpayers \u2013 individuals, businesses, and other entities \u2013 and provides five types of transcripts. A requested transcript may provide information regarding the date the IRS received a return; payment history including refunds, transfers between tax years and overpayment credits; due balance amounts; interest assessed; refundable credits allowed; basic examination information; and Forms W-2 or 1099 information.<\/p>\n<p>Taxpayers may be able to get answers to their questions quickly and efficiently by requesting and reviewing their transcript \u2013 that is if they can decipher them. Taxpayers (<a href=\"https:\/\/www.irs.gov\/tax-professionals\/transcript-delivery-system-tds\">and tax professionals<\/a>\u00a0with a properly executed\u00a0<a href=\"https:\/\/www.irs.gov\/forms-pubs\/about-form-2848\">Form 2848, Power of Attorney<\/a>, or\u00a0<a href=\"https:\/\/www.irs.gov\/instructions\/i8821\">Form 8821, Tax Information Authorization<\/a>) can request a transcript online through the IRS\u2019s Get Transcript Online portal or their\u00a0<a href=\"https:\/\/sa.www4.irs.gov\/eauth\/pub\/login.jsp?Data=VGFyZ2V0TG9BPUY%253D&amp;TYPE=33554433&amp;REALMOID=06-00029c6a-0543-17b0-89b8-163b0acf40c7&amp;GUID=&amp;SMAUTHREASON=0&amp;METHOD=GET&amp;SMAGENTNAME=UOkC7yx4eMTO24FGxPfBRb5q3Mj3Xh3pyXfBEjYyHJ97nGCXu16wx5MzFHjfZmlG&amp;TARGET=-SM-https%3a%2f%2fsa%2ewww4%2eirs%2egov%2fola%2f\">online account<\/a>;\u00a0<a href=\"https:\/\/sa.www4.irs.gov\/irfof-tra\/login\">by mail<\/a>; or by calling the IRS\u2019s automated phone transcript service at 800-908-9946. With difficulty reaching the IRS by phone or correspondence during the last two filing seasons, using the portal or online account may be more efficient than calling the IRS due to long wait times, the potential inability to speak with an available customer service representative or the length of time for the IRS to respond to a mailed transcript request. The IRS\u2019s\u00a0<a href=\"https:\/\/www.irs.gov\/individuals\/get-transcript\">Get Transcript page<\/a>\u00a0is available in five languages, and the online application is also available in\u00a0<a href=\"https:\/\/www.irs.gov\/es\/individuals\/get-transcript\">Spanish<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>What Transcript Should Taxpayers Ask For?<\/strong><\/p>\n<p>There are\u00a0<a href=\"https:\/\/www.irs.gov\/individuals\/transcript-types-and-ways-to-order-them\">several types of transcripts<\/a>\u00a0that can meet a taxpayer\u2019s needs.<\/p>\n<ul>\n<li><em>Tax Return Transcript:\u00a0<\/em>This shows most items reflected on a taxpayer\u2019s original tax return, including adjusted gross income and accompanying forms and schedules for the current year and three prior years. Lending institutions will often accept this transcript for student loan or mortgage purposes.\u00a0<strong>Note:<\/strong>the secondary spouse on a joint return must use Get Transcript Online or Form 4506-T to request this transcript type. When using Get Transcript by Mail or phone, the primary taxpayer on the return must make the request.<\/li>\n<li><em>Wage and Income Transcript:\u00a0<\/em>This provides data from the third-party information statements the IRS has received for a specific taxpayer, such as Forms W-2, 1099, 1098, or 5498, and can be useful if the taxpayer did not receive or retain a copy of these documents. Wage and Income Transcripts are available for up to ten years. While the Wage and Income transcript provides federal withholding amounts, it does not reflect state tax withholdings, which may limit its use when preparing state income tax returns.<\/li>\n<li><em>Tax Account Transcript:\u00a0<\/em>This provides basic tax return data (marital status, adjusted gross income, taxable income) along with listing the activity on a tax account, such as tax adjustments, payments, etc., for the current year and up to ten prior years using Get Transcript Online. When using Get Transcript by Mail or phone, taxpayers are limited to the current tax year and returns processed during the prior three years.<\/li>\n<li><em>Record of Account Transcript<\/em>: This is the most comprehensive transcript. It combines the Tax Return Transcript and the Tax Account Transcript to provide a more complete picture of a taxpayer\u2019s tax return and subsequent account activity for the current year and for returns processed in the three prior years.<\/li>\n<li><em>Verification of Non-Filing Letter:\u00a0<\/em>This provides proof that the IRS has no record of a filed Form 1040-series tax return for the year requested. However, it doesn\u2019t indicate whether a taxpayer was required to file a return for that year. This letter is available after June 15 for the current tax year or any time for the prior three tax years using Get Transcript Online.<\/li>\n<\/ul>\n<p><strong>New Tax Transcript Format <\/strong><\/p>\n<p>In July 2021, IRS updated a webpage on IRS.gov to educate taxpayers regarding the\u00a0<a href=\"https:\/\/www.irs.gov\/individuals\/about-the-new-tax-transcript-faqs\">new transcript format<\/a>\u00a0and use of the \u201ccustomer file number,\u201d which was designed to better protect taxpayer data. This new format partially masks personally identifiable information. However, financial data will remain visible to allow for tax return preparation, tax representation, or income verification. These changes apply to transcripts for both individual and business taxpayers.<\/p>\n<p>Here\u2019s what is visible on the new tax transcript format:<\/p>\n<ul>\n<li>Last four digits of any Social Security number on the transcript: XXX-XX-1234;<\/li>\n<li>Last four digits of any Employer Identification Number on the transcript:\u00a0XX-XXX1234;<\/li>\n<li>Last four digits of any account or telephone number;<\/li>\n<li>First four characters of the first name and first four characters of the last name for any individual (first three characters if the name has only four letters);<\/li>\n<li>First four characters of any name on the business name line (first three characters if the name has only four letters);<\/li>\n<li>First six characters of the street address, including spaces; and<\/li>\n<li>All money amounts, including wage and income, balance due, interest, and penalties.<\/li>\n<\/ul>\n<p><strong>For security reasons, the IRS no longer offers fax service for most transcript types to both taxpayers and third parties and has stopped its third-party mailing service via Forms 4506, 4506-T, and 4506T-EZ.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Want to improve the IRS? SPEAK UP By Andrea Price, TAP member representing Ohio The Truth Contributor The Taxpayer Advocacy Panel comprises civic-minded citizen volunteers from all walks of life representing each state, D.C., Puerto Rico, and an international member (citizens living, working, or doing business abroad). TAP is a Federal Advisory Committee whose mission [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"wf_post_folders":[80],"class_list":["post-2905","post","type-post","status-publish","format-standard","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/posts\/2905","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/comments?post=2905"}],"version-history":[{"count":1,"href":"https:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/posts\/2905\/revisions"}],"predecessor-version":[{"id":2906,"href":"https:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/posts\/2905\/revisions\/2906"}],"wp:attachment":[{"href":"https:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/media?parent=2905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/categories?post=2905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/tags?post=2905"},{"taxonomy":"wf_post_folders","embeddable":true,"href":"https:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/wf_post_folders?post=2905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}