I'm trying to pull 941 account transcripts for a client and when I used Proconnect, it allows me to select a tax year, but not individual quarters. When I download a year, it only provides the 4th quarter 941 and is missing Q1-Q3. Is this a bug in the new PTO interface with the IRS transcript delivery system? Is there a work around?
Yes, PTO now has a IRS Transcript interface and Yes, I can get these transcripts through the IRS TDS. Getting them through PTO is slightly easier because I don't have to go through the login process with the IRS. I just have to be logged into PTO.
Tax Return Transcript: This transcript shows most line items from an original Form 1040-series tax return as filed, along with any forms and schedules. It does not show changes made after the original return was filed. This transcript is available for the current and three prior tax years. It is often used by lending institutions offering mortgages.
Tax Account Transcript:This transcript shows basic data such as filing status, taxable income, and payment types. It also shows changes made after the original return was filed. This transcript is available for the current and nine prior tax years.
Note: If estimated tax payments were made and/or an overpayment from a prior year return was applied, this transcript type can be requested a few weeks after the beginning of the calendar year to confirm the payments prior to filing a tax return.
Record of Account Transcript: This transcript combines the tax return and tax account transcripts into one complete transcript. It is available for the current and three prior tax years.
Wage and Income Transcript: This transcript shows data from information returns received by the IRS, such as Forms W-2, 1098, 1099, and 5498. The transcript is limited to approximately 85 income documents. If there are more documents than that, the transcript will not generate. This transcript is available for the current and nine prior tax years.
Note: If you receive a message of “No Record of return filed” for the current tax year, it means information has not populated to the transcript yet. Check back in late May.
Verification of Non-filing Letter: This letter states that the IRS has no record of a processed Form 1040-series tax return as of the date of the request. It does not indicate whether a return is required for that year. This letter is available after June 15 for the current tax year or anytime for the prior three tax years.
