Under IRS Notice 2017-12, an account transcript
may be substituted for an estate tax closing letter.
In Notice 2017-12, the IRS provides guidance on the methods available to confirm that an examination of an estate tax return has been closed and announces that an account transcript
may be used as a substitute for an estate tax closing letter.
The Account Transcript
is a "plain English" presentation of a particular tax return account for a particular year.
This approach not only has some logical appeal, but it also should be easy to administer because the date of the transfer would be set forth on the taxpayer's IRS account transcript
The Record of Account, a new product, combines both the Return Transcript and Account Transcript
in one product.
The practitioner should secure a Form 2848, Power of Attorney and Declaration of Representative, from each affected client (for joint returns each person must file a separate form) and contact the IRS to request an "account transcript
," one of three common types of transcripts.
Taxpayers and their representatives can obtain assessment amounts and assessment date information by requesting the taxpayer's tax account transcript
for the applicable years from the IRS.
IRS2GO: With this smartphone app, users can access video, get news updates, request tax account transcripts
, and check their tax refund status from the IRS.
It allows eligible CPAs with a power of attorney (form 2848) on file to request and receive account, wage and income or tax return transcripts; verification of nonfiling letters for individual taxpayers; and account transcripts
for business taxpayers.
``After reviewing the video, and taking into account transcripts
from the Fakenham inquiry, the panel did not believe that the manner of Mr Craine's riding of Blazing The Trail was out of concern for the welfare of the horse.''
'After reviewing the video and taking into account transcripts
from the Fakenham inquiry, the panel did not believe that the manner of Mr Craine's riding of Blazing The Trail was out of concern for the welfare of the horse
They are unable to address issues such as obtaining individual taxpayer identification numbers (ITINs); requesting copies of prior-year returns, wage and income transcripts, or general account transcripts
; completing required forms and schedules; and getting answers to general tax questions.