How to Handle a Situation When Your Tax Records Information is Unavailable at This Time
Tax season is upon us and the deadline is quickly approaching. You’ve gathered all of your necessary information and paperwork to file your taxes, but when trying to access your tax records, you find that the information is currently unavailable. What do you do next?
Here are some steps you can take to handle this situation:
Step 1: Determine the Reason for Unavailability
Before taking any action, it’s essential to determine why the tax records are currently unavailable. There could be various reasons behind it:
– You might have misplaced or lost the paperwork
– The tax documents might have been misplaced or lost by the IRS
– You may have forgotten to file tax returns
– The tax returns might have been filed but not processed yet
Identifying the reason for the unavailability will help you decide on the next course of action.
Step 2: Check with the IRS
If you are unable to locate your tax paperwork, the first step is to reach out to the IRS. They might be able to provide you with a copy of your tax records. You can request your transcripts by contacting their toll-free number 800-829-1040 or by visiting their website and filling out Form 4506-T – ‘Request for Transcript of Tax Return’. The transcripts would contain most of the line items on your tax return filed for the year, along with other important details.
Step 3: File for an Extension
If you are unable to retrieve the tax records before the deadline, you can file for an extension with the IRS. You would get another six months to file your taxes. An extension would give you more time to collect your tax information and ensure that you can file your taxes accurately.
Step 4: Consult with a Tax Professional
If you face significant difficulties in locating your tax records or need assistance in filing your taxes correctly, consulting with a tax professional would be your best bet. They would be able to help you navigate through any complications and help you file your taxes on time.
In conclusion, tax record availability is crucial when it comes to filing taxes. However, situations might arise where the required information is unavailable. As illustrated above, there are steps you can take to handle this situation. Follow the mentioned steps and ensure that you file your taxes on time without any issues.
