Banks love financial documents. Loan providers love them
too. Renters and real estate agents are also big fans. The fact is, the more
financial documentation you have, the more those kinds of places can see what
sort of a risk you are. And even if you had an off year (or two) the more
documentation you provide to prove what a low risk you are, the lower your
rates are going to be. One easy way to give them the records they crave? Obtain
your past taxes returns.
How? Here are 4 facts about getting your past taxes returns
so you can cut your bills, save some money, and be ready for any crises that
come your way.
Know what you’re
getting. There are two types of documents that gives you your past taxes
returns information: a tax returns transcript and a tax account transcript. A
tax returns transcript just shows what you filed to the IRS, without any
changes. A tax account transcript shows what changes you or the IRS made after
you filed. Both have their pros and cons, but make sure you ask for the right
one. For the most part, when your past taxes returns information, a tax returns
transcript is all you’ll need. Of course, you can always ask for both.
Decide who you’re
going to get it. There are three ways to get your past taxes returns
information: call the IRS, mail the IRS, or contact your tax preparer. Each
option has their benefits, but it’s important to keep in mind the time frame.
While mailing may seem slower, contacting the IRS by phone may just add another
step to the process. Likewise, your tax preparer might have a long turnaround
time. Keep these things in mind before you put in your request–and always plan
several months ahead!
Know what you’re
not getting. If you go through the IRS to get a transcript, what you’re not
getting is a straight copy of your past taxes returns–instead you’re just
getting a record of what they received. A straight copy from the IRS will cost
you per each tax year you’re requesting. A copy of your past taxes returns from
your preparer should be cheaper to obtain, but might take longer.
Plan ahead. Of
course, the fastest and best way to get your past taxes returns information is
to just make a copy before you file each year. This might mean a few hours at
copy shop or printing out a long PDF if you e-file, but the time (and money!)
it will save you in the future is well worth it.
Best Tax Filing Useful Websites
Smart Tax Refund
Tax Estimator 2017
Income Tax Return
Tax Filing Online
Tax Calculator 2016
State Tax Filing
Best Tax Filing Useful Websites
Smart Tax Refund
Tax Estimator 2017
Income Tax Return
Tax Filing Online
Tax Calculator 2016
State Tax Filing