We all know tax season can be a hurried and frustrating time. Getting all of the necessary paperwork, maximizing your refund, and finding the right way to file are all time consuming. Whether you were completely organized for the tax season or pulling receipts out left and right, now is a great time to take advantage of a Tax Return Transcript. Best of all, it’s free. If you were to order a complete copy of your filed tax return from the IRS, it would cost $57.00. Just like an educational transcript, a Tax Return Transcript contains a summary of the work you have done and your results. First, it has most of the line items from your tax return, including information from your 1040, 1040A, or 1040EZ. A Tax Return Transcript also contains accompanying forms and schedules. So why is this important if you already have a copy of your tax return? A Tax Return Transcript can be used for the following goals. • Meeting the requirements of lending institutions offering mortgages • Compacting information needed to apply for student loans • Having the necessary figures to apply for a visa It is important to note that a tax return transcript does not reflect changes made after the return was filed. The IRS provides three convenient ways of obtaining the transcript: • Order a Transcript online • Call 1-800-908-9946 (5-10 business days for delivery) • Fill out Form 4506T and mail it in. (5-10 business days for delivery) Since the online ordering is fastest, we will provide some quick tips to make it go smoothly. First, you have to decide whether you want a tax return transcript or a tax account transcript. A tax return transcript has most of the line items from your tax return, including information from your 1040, 1040A, or 1040EZ. A tax return transcript also contains accompanying forms and schedules. The tax return transcript is available for this year and up to the last three years. A tax account transcript includes marital status, type of return filed, adjusted gross income, and taxable income. Also, it includes any adjustments you or the IRS made after you filed your return. These are also available for this year and up to the last three years. By filling out Form 4506T, you can send your transcript to third parties like your accountant, financial institution, or government agency. The IRS does require you signature for this information to be released. The IRS provides a visual preview of a transcript at the bottom of the page of Tax Return Transcripts. The IRS provides a simple and easy tool to obtain the tax return transcript online. It’s a 1-2-3 process that you can find by clicking Order a Transcript. Keep checking back to the blog for more helpful information regarding your taxes.

The past couple of months have been punctuated by an abnormally high number of catastrophic storms across the country. The effects of these disasters were felt from coast to coast and will continue to be felt for a long time to come. Events such as these provide a tangible reminder of how precious life can be. The IRS is one of many government agencies doing their part to do everything they can to ease the burden on those affected by the storms. As is common practice the IRS has set up various forms of tax relief that are available to those in affected areas. Recently they have set up such programs for victims in Kentucky, Mississippi, Tennessee, Missouri, Arkansas, Mississippi, Georgia, Alabama, Oklahoma, and North Carolina. Many of these areas qualify for relief measure such as extended filing deadlines, waved penalties, and more. For more information please visit the IRS page for Tax Relief in Disaster situations here or few the applicable fact sheets here and here.

Groceries are a necessity, but that doesn’t mean you always have to spend a lot on them. Take advantage of these savings tips to reduce your grocery bill: • Start a garden – A great way to save money and have a fresh produce at your back door. • Purchase generic brands – Save up to 25% by buying generic brand items. • Buy items on sale – Find an item on sale? Stockpile! • Shop at drug stores – In addition to grocery stores, drug stores often have bargains as well. • Use coupons – Save big by purchasing items on sale and using coupons for those items.

Name: Sachin Patel Title: Software Developer Years with TaxSlayer: 3 Q: What do you like most about your job? A: Work ethic, determination and skill level of my co-workers. Q: How does your job change throughout the year? A: Tax Season can be a nervy blur in terms of the amount of time spent at the office. However, off season is where I feel I work harder in terms of producing quality, well planned, and efficient software. Q: What do you enjoy doing when you’re not working? A: I coach youth soccer at a competitive level so that would be my main passion. I also enjoy most activities that involve interacting with family and friends. Q: Something many people don’t know about you? A: I grew up following underground UK House & Garage music. It’s a specific mix of music originated in South London, UK and encompasses a heavy base line, quick tempo and usually is a mix of 1-3 genres of music. I still listen to this music time to time.