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    eskl1212's Avatar
    eskl1212 Posts: 3, Reputation: 1
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    #1

    May 13, 2012, 02:46 AM
    Tax transcripts
    Hello,

    I have amended my 2010 returns to change the filing status in October 2011 and some time after that I had received a letter from the IRS acknowledging that they had received the papers and were processing the amendment.

    I will need to order tax transcripts for 2009, 2010 and 2011.

    Looking at 4506-T, I notice there are several type of transcripts, such as:
    * Return Transcript
    * Account Transcript
    * Record of Account

    If I understand it correctly, the Return Transcripts is processed the fastest (about 10 days), while the other two take about 30 days to process. However, the Return Transcript, as I understand, does not show any changes made to the filing.

    My questions:
    1) Can you tell me whether the Return Transcript will show the amendments in filing status? Or will it show the wrong filing status?
    2) I have received my 2011 refunds 1-2 months ago. Will the transcripts for 2011 be ready now?

    Also, my mother who files her taxes jointly with my father, will also need to order tax transcripts.

    Question:
    Will her transcripts be "joint transcripts"? Will they show her part of the gross income?

    Thank you
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #2

    May 13, 2012, 10:18 AM
    The transcripts SHOULD show the amendment as well as the original return.

    Your mother's transcripts will be the JOINT return.
    eskl1212's Avatar
    eskl1212 Posts: 3, Reputation: 1
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    #3

    May 16, 2012, 09:13 AM
    Quote Originally Posted by AtlantaTaxExpert View Post
    The transcripts SHOULD show the amendment as well as the original return.

    Your mother's transcripts will be the JOINT return.
    Thank you for the response. Which transcript are you talking about, the tax return transcript or the tax account transcript?

    The below text is from IRS website:

    "Tax Return vs. Tax Account Transcript

    A tax return transcript shows most line items from your tax return (Form 1040, 1040A or 1040EZ) as it was originally filed, including any accompanying forms and schedules. In most cases, your transcript includes all the information a lender or government agency needs. It does not show any changes you, your representative or we made after you filed. Ask your financial institution to be sure a return transcript will meet their requirements. The tax return transcript is generally available for the current and past three years.

    We can also provide a tax account transcript. The tax account transcript, which is also free, shows basic data from your return, including marital status, type of return filed, adjusted gross income and taxable income. It also includes any adjustments you or we made after you filed your return. Like the tax return transcript, the tax account transcript is generally available for the current and past three years."

    Thank you
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #4

    May 16, 2012, 09:36 AM
    I was referring to the tax ACCOUNT transcript, which is the transcript you should always get.
    eskl1212's Avatar
    eskl1212 Posts: 3, Reputation: 1
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    #5

    May 18, 2012, 07:39 AM
    Quote Originally Posted by AtlantaTaxExpert View Post
    I was referring to the tax ACCOUNT transcript, which is the transcript you should always get.
    Thank you. Do they really take about 30 days to get?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #6

    May 18, 2012, 09:43 AM
    No, 7 - 10 days is more likely.

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