There are few situations when you need to submit copies of tax returns to the concerned party. Usually the copies of tax returns are required by lenders when you apply for student loan or mortgage loan. Different lenders have a different set of requirement related to the copies of tax returns.
For example in case of home mortgage loans you may be asked to provide your tax returned of last three years. The lender might ask you to bring along a copy of a past tax return if you want to modify or refinance your mortgage loan.
How to get the Exact Copy of a Past Tax Return
- IRS charges a $50 fee for each tax return that you request from the IRS
- You can request copies of Tax Forms 1040, 1040A, and 1040EZ for up to 6 years ago
- Copies of other types of tax forms may be available for longer than 6 years
- You can only order 1 type of tax return per request form, which means you must submit separate Forms 4506 if you need different types of returns
- Make sure your full payment is included with your request
- It takes the IRS up to 75 days to process your request
Method through which you can get Transcript of a Past Tax Return
If your lender does not require the exact copy, then you should request the IRS for the free transcript. A tax return transcript contains most of the information from the original tax return.
- Tax return transcripts are available for the following IRS tax forms:
- Form W-2
- Form 1099 series
- Form 1098 series
- Form 5498 series
You can have copies of tax returns mailed directly to you or the IRS can send them to a third party for you.