Key Takeaways
- Requests exact copy of filed tax returns.
- Includes all attachments, unlike transcripts.
- Used for legal, audit, or estate needs.
- Processing takes 60-75 days with a fee.
What is Form 4506: Request for Copy of Tax Return?
Form 4506 is an IRS document that allows taxpayers to request an exact copy of a previously filed tax return, including all attachments. This form is essential when you need the full original return rather than a summarized transcript.
It differs from other forms like the 4506-T, which provides tax return transcripts with limited details. Proper use of Form 4506 ensures compliance with privacy laws related to your identity theft protections.
Key Characteristics
Form 4506 has specific features tailored for full return retrieval, making it distinct in tax documentation.
- Complete copy: Provides a full reproduction of your tax return, including all schedules and attachments, unlike transcripts.
- Time frame: You can request returns for up to 10 years, depending on IRS retention policies.
- Third-party designation: You can authorize the IRS to send the copy directly to a designated recipient, such as a lender or legal representative.
- Fee required: The IRS charges a processing fee per tax year requested, typically around $43.
- Use cases: Commonly used for legal matters, detailed audits, or mortgage refinancing where a full return is needed.
How It Works
To use Form 4506, you must fill out your personal information, specify the tax form and year requested, and sign the document. If authorizing a third party, include their contact details for direct mailing.
After submission by mail or fax, expect a processing period of 60 to 75 days. This form requires a fee payment and does not support electronic delivery, so plan accordingly for your needs.
For businesses or individuals, understanding your ability to pay taxation can influence which returns you request and why.
Examples and Use Cases
Form 4506 is practical in various financial and legal scenarios where full documentation is necessary.
- Mortgage refinancing: Homeowners may submit Form 4506 to provide lenders like DandB with complete tax returns for loan approval.
- Income verification: When applying for credit cards with low interest rates, your full tax return might be requested instead of a transcript, linking to guides on best low interest credit cards.
- Financial audits: Businesses may need to submit full returns to auditors or legal counsel, ensuring compliance and thorough review.
- Stock investments: Investors researching companies like Delta might also need their personal tax documents for related financial planning.
Important Considerations
Before submitting Form 4506, confirm that a full copy is necessary, as transcripts are often sufficient and faster to obtain. The form involves fees and longer processing times compared to transcript requests.
Always safeguard your tax information and only authorize trusted third parties. If you seek to improve your credit profile, reviewing guides on best credit cards for good credit can complement your financial strategy.
Final Words
Form 4506 provides an exact copy of your original tax return, essential when detailed documentation is required beyond summary transcripts. If you need a full return for legal, refinancing, or audit purposes, complete and submit this form promptly to avoid delays.
Frequently Asked Questions
Form 4506 is an IRS form used by taxpayers to request an exact copy of a previously filed tax return, including all attachments. It is commonly used when a full reproduction of the original return is required, such as for legal matters or detailed audits.
Unlike Form 4506, which requests a full copy of the tax return, Form 4506-T requests a transcript, which is a summarized version of the return with some personal information masked. Transcripts are typically faster, free or low-cost, and often sufficient for income verification.
The taxpayer can request the return for themselves or designate a third party, like a lender or attorney, to receive the copy by providing the recipient's name and address on the form. The IRS will mail the copy directly to the designated party.
You can request copies of tax returns for up to 10 years back, subject to IRS record retention policies, which generally cover 7 to 10 years. Availability depends on whether the IRS still has the requested returns on file.
Processing typically takes between 60 to 75 days, and there is a fee of $43 per return year requested, though you should check for the most current fee. The form must be mailed or faxed to the IRS address listed in the instructions.
Yes, an authorized representative, such as a tax professional or executor, can sign Form 4506 if you attach Form 2848 (Power of Attorney) or provide proper fiduciary documentation like letters testamentary.
A full copy is needed in situations requiring the entire return with all attachments, such as legal proceedings, estate settlements, or detailed audits. Lenders refinancing a mortgage may also require the original return rather than a transcript.
After completing and signing Form 4506, you must mail or fax it to the IRS address or fax number specific to your state, as listed in the form instructions. The form must be received by the IRS within 120 days of signing.
