Changed! Form 4506 Request for Copy of Tax Return
Also changed is the similar Form 4506-T. Both forms being reviewed are September 2015 (look in upper left hand corner). The big change is the addition of a Mandatory check box next to the signature area. The signer must check box to attest to having authority to sign either form. “The form will not be processed and returned to you if the box is unchecked”. So, heads up about this – make sure they check the box when they sign. As we are there to make sure forms are completed correctly – take a few minutes and read the instruction page.

Most of the time the package will include Form 4506, but, perhaps not. The 4506 now has a fifty dollar fee per year requested, in addition to the above mentioned check box. There is another new option for the 4506. It’s a check box (at the extreme right) “If the copies must be certified for court or administrative proceedings”. That is probably necessary if the document is to receive an Apostille, but not sure. Either spouse may sign the form, or both may sign – I usually try for both.

Form 4506-T is quite different, rather than requesting a “copy” of the actual return; it requests a “Transcript” of the entries made on the return. This one is processed free. Oddly the contents of the 4506-T are specified on the 4506. At the top of the 4506 it states “The transcript provides most of the line entries from the original tax return and usually contains the information that a third party (such as a mortgage company) requires”.

Form 4506-T contains several options (again with check boxes on the right hand edge). Line 5 (where to send it) probably should be completed with the address of title or similar; otherwise the info is sent to the taxpayer. Prior to the check boxes the choice of which form must be entered – most would probably enter 1040. Then it’s on to selecting what type of transcript is required. It’s all on the form, so I’m not covering options 6-a to 6-c. Line 7 is interesting – here you request from the IRS proof that you did NOT file a return for tax year(s). Line 9 is where the tax years requested are specified.

The attestations of authority checkbox and signature areas are basically the same on both forms.
So, with the 50$ fee for the complete copy; many are likely to move to the 4506-T, processed at no charge. Thus, it would be wise to print them both each has only one page of instructions. Read the instructions carefully and understand the difference between the two. It’s unlikely that the borrower will know what options are required on the 4506-T. It’s best when you see it to review your instructions for what options are wanted. If no information is given, call for details. It appears that 6-c and option 8 provides the most complete information.

Fortunately, neither form requires notarization, yet? What sets us apart from the “bank notary” is our dedication to keeping up with changing requirements and understanding the need to have forms completed properly. Make sure that line 5 (shipping address) is not overlooked. And, if you have a 4506-T to work with, know what entries are required – don’t guess. And don’t rely on “them” to pre-enter the necessary information. Get it right the first time and be the one they call regularly.

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