Form 4506 authorizes the IRS to launch a copy of your income tax return to another party. Landlords can request tenants or prospective tenants to complete Form 4506 so they can verify the tenant’s income. This can be a choice when a renter is self-employed and doesn’t receive normal paychecks that would prove income.

Types

Two versions of the form exist. Form 4506 is titled”Request for Copy of Tax Return,” and it authorizes the IRS to send a replica of the actual tax return you filed. Form 4506-T is titled”Request for Transcript of Tax Return.” A transcript comprises all of the info you included on the return you filed, but it’s not a replica of the first record; it’s only the data as stored in the IRS’s computers.

Elements

Whichever version of the form you fill out, it must be whole, or the IRS will deny it. Each form asks for your name, address and social security number, as well as the name, address and telephone number of the third party whom you are authorizing to receive the advice — in this case, your spouse. You have to identify which years’ returns you want. Form 4506 allows you to purchase copies of around eight returns; Form 4506-T lets you purchase transcripts of around four returns. Should you want more than that, you are going to need to complete an additional 4506 or 4506-T. You have to date and sign the form. If the returns in question are joint returns filed by a married couple, either spouse can signal.

Time Frame

Once you date and sign version of Form 4506, your landlord has 120 days to submit it to the IRS. If the form you sign is requesting a photocopy, it may take around 60 days to the IRS to find, copy and mail the return. If the petition is for a transcript, it can typically be fulfilled within one business day. Transcripts are free, however, the IRS charges for photocopies. As, the cost for photocopies was $57 per return. Payment must be included with the form; when the IRS can not find the return, it refunds the money.

Warning

According to the IRS, the agency doesn’t have any control over what the third party will do with the your information. Document this form and give people permission to view your tax information only as necessary.

State Forms

Form 4506 applies only to federal tax returns. To acquire a copy of your state income tax return for a third party, you are going to need to take care of the revenue department or other agency which handles taxation on your state. In California, as an example, you’d fill out form FTB 3516 and ship it to the Franchise Tax Board.

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