In an effort to increase privacy for taxpayer information, the IRS has stopped its transcript faxing service today. Transcripts are summaries of tax return information and are legally used by colleges, mortgage companies, and others to verify income, but scammers also use them to steal taxpayers’ identities. It will also end third-party mailing of tax returns and transcripts on July 1. Taxpayers who need transcripts of old returns can still be obtained through Get Transcript Online, Get Transcript by Mail, calling the IRS at 800-908-9946, or submitting a request to have the transcript mailed.
Barbara Weltman
Big Ideas for Small Business, Inc.
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BOI reporting cont'd. But this isn’t the end of the story. The government filed a notice of appeal with the appellate court, and FinCEN says “deadline stay—voluntary submission only” (https://bit.ly/3ZpKxwU Note: There are cases challenging CTA that are still pending.