How to Get Prior-Year Tax Information

In email today from Oak Partners:

How to Get Prior-Year Tax Information*
Tax day 2018 has passed – and for American taxpayers, it was one of the last reminders of 2017. The IRS instructs filers to retain tax records and supporting documents for at least the 3 previous years.
Taxpayers who used tax-filing software for the first time and who don’t have copies of their returns may order tax transcripts of previous-year returns from the IRS. The transcripts provide a summary of a tax return.
Taxpayers seeking to obtain transcripts need to have the amount of their adjusted gross income to validate their identities. For more information, go to  Validating Your Electronically Filed Tax Return.
The IRS advises taxpayers to first check with the provider of the tax software they used or their tax preparer before contacting the agency for the information. The IRS charges a fee for providing prior-year returns. The transcripts, however, are free.
It takes 5-10 days to get tax transcripts ordered online or by phone after the IRS receives the request. It takes about 30 days to get tax transcripts ordered by mail and about 75 days for tax returns.
Here are 3 ways to order transcripts:
  1. Go to Get Transcript on the agency’s website.
  2. Taxpayers may call 800-908-9946.
  3. Taxpayers may use Form 4506-T or Form 4506T-EZ to order by mail.

* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.


Legislators Meet for  Special Session

Today in email from Indiana district 15 Senator Liz Brown:

Earlier this week, the General Assembly reconvened for a one-day special session to pass a handful of important bills, including measures to increase funding for school security and align Indiana with the major federal tax reform passed in 2017.

House Enrolled Act 1230 provides additional funding for school security and requires the Department of Education to conduct an audit of every school’s safety plan in the wake of the February school shooting in Florida. HEA 1230 allows up to $5 million for the Indiana Secured School Grant Program and up to $35 million from the Common School Fund to be used for school security-related equipment and capital projects.

 House Enrolled Act 1315 provides emergency assistance to aid the turnaround efforts in Indiana’s only two financially distressed school corporations – Muncie and Gary. More importantly, from a statewide perspective, HEA 1315 establishes a process to annually monitor the financial health of all school districts so the state can provide support for local turnaround efforts without the need for more drastic interventions like what became necessary in Muncie and Gary.

House Enrolled Acts 1316 and 1242 update Indiana’s tax code and other tax policies to respond to recent federal changes, including the major tax reform legislation passed in 2017. Without this legislation, Indiana businesses could face $100 million in increased tax compliance costs because they would have to keep two sets of accounting records – one for state taxes and another for federal taxes.

These four bills were in final form at the end of the regular session in March, but ultimately did not pass due to time constraints.

The process set forth by legislative leaders was the most transparent and efficient for a special session to date, and while we should’ve completed our work in March, I believe we set an example for the future.

Click here to view the full versions of the bills.


April Indiana Employment Report

From Indiana in email today:

INDIANAPOLIS (May 18, 2018) – Indiana’s unemployment rate stands at 3.2 percent for April and remains lower than the national rate of 3.9 percent. With the exception of one month when it was equal (October 2014), Indiana’s unemployment rate now has been below the U.S. rate for more than four years. The monthly unemployment rate is a U.S. Bureau of Labor Statistics (BLS) indicator that reflects the number of unemployed people seeking employment within the prior four weeks as a percentage of the labor force.

Indiana’s labor force had a net increase of 11,655 over the previous month. This was a result of a 737 increase in unemployed residents and an increase of 10,918 employed residents. Indiana’s total labor force, which includes both Hoosiers employed and those seeking employment, stands at 3.33 million, and the state’s 64.0 percent labor force participation rate remains above the national rate of 62.8 percent.

In addition, Indiana’s initial unemployment insurance claims continue to be at historical lows.

Learn more about how unemployment rates are calculated here: http://www.hoosierdata.in.gov/infographics/employment-status.asp.



Political Correctness, a definition

Twelve CFL bulbs failed in six months while only one incandescent bulb failed in the same period.

“political correctness” – the conscious and deliberate ignorance of clear dangers to our communities and nation to appease irrational and abusive minority political influences.

Examples –

  1. Demand that folded florescent light bulbs be legislated to replace all incandescent light bulbs “to save energy and the environment” even though folded florescent “CFL” bulbs use more energy to produce and use than incandescent, create a very serious health hazard in residential applications, and create a huge environmental problem for disposal.
  2. Demand that old American citizens restricted to wheel chairs be strip searched as as if they are probably terrorists while 20-year old Muslim “women” (or men, you can’t tell) whose identity are concealed from head to toe in a Hajib are exempt from any search “due to religious reasons” and can carry any weapons they wish, unhindered and unchallenged, onto the same airline.
  3. Demand that Republican politicians that are removing corruption, poverty, unemployment, and security threats be defrauded of their God-given individual liberties guaranteed by the US Constitution, witch hunt “investigations” be created and prolonged over fabricated lies to encumber their good work, while Democrats known to have committed and known to be currently engaging in multiple and extreme crimes against America and all humankind cannot be challenged for their many murders, treasons, human trafficking (kidnapping and enslaving) children to sexually abuse them, and massive financial criminal activities.

There are many more examples available, but you get the idea.