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.
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.
From email today from email@example.com:
The busiest part of tax season begins this week, with millions of people planning to file. Through April 6, the IRS has processed more than 101 million tax returns and issued more than 79.1 million tax refunds totaling $226.6 billion. The average refund to date is $2,864.
Additional filing season numbers:
The IRS expects to receive about 14.9 million individual income tax returns for the week ending April 13, with about 13.1 million filed electronically.
On top of those 14.9 million tax returns, the IRS expects to receive another 17 million tax returns the following week.
Requests for extension are anticipated to exceed 11.6 million by next week, with the vast majority of those Forms 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, being filed electronically. Overall, this year, the IRS expects to receive more than 14 million extension requests from taxpayers.
Information about free e-file options, such as FreeFile, how to request an automatic six-month filing extension or fast and easy ways to pay any tax due using IRS Direct Pay are available online at IRS.gov. IN INDIANA you can access on-line software to file your Federal and Indiana State income taxes for free at https://www.in.gov/dor/5912.htm.
WASHINGTON — The Internal Revenue Service today released guidelines on how wrongfully-incarcerated taxpayers can take advantage of the new retroactive exclusion from income for any civil damages, restitution or other monetary award received in connection with their incarceration.
The guidelines are contained in a set of frequently-asked questions, posted today on IRS.gov. According to the FAQs, taxpayers who in the past received payments related to their wrongful incarceration and included those payments in taxable income can now file a refund claim for any income tax paid. To do this, eligible taxpayers must file Form 1040X for each year these payments were reported and write “Incarceration Exclusion PATH Act” at the top of each Form 1040X they submit.