09.21.22   •   Document Updates

Document Updates: New Additional Tax Transcript Functionality for Corporate 4506-C (Cx17841)

***Please be aware that these changes are not related to the upcoming modernization changes to the 4506-C that the IRS will require on December 1, 2022.***

IRS Form 4506-C is used to request tax return information. Specifically, Form 4506-C was created to be utilized by authorized IVES participants to order tax transcripts with the consent of the taxpayer. Similar to what we announced for the regular 4506-C, many clients may now need to be able to trigger additional copies of the Corporate 4506-C for each borrower. These additional copies need to have different data populate on lines 6, 7, and 8 on Form 4506-C, even though the rest of the data on the documents remains the same.

In order to support this in a manner that does not interfere with existing functionality, we have created a new Multi-Doc Collection that we will use for our generic Corporate copy of the 4506-C, Cx17841. The new MDC is “4506C Corporations – Additional Form Requests” and is intended to generate one copy for each 4506-T Corporation that has a Return enabled; then prints an additional copy for each Corporation if the 4506 Corporate Return Request indicator for that copy is set to Yes. This functionality for Cx17841 is optional and will trigger based on a new set of fields:

  • 155554 Print 4506 Corporate Return 1 Request 1
  • 155555 Print 4506 Corporate Return 2 Request 1
  • 155556 Print 4506 Corporate Return 3 Request 1
  • 155557 Print 4506 Corporate Return 4 Request 1
  • 155558 Print 4506 Corporate Return 5 Request 1
  • 155559 Print 4506 Corporate Return 6 Request 1
  • 155560 Print 4506 Corporate Return 7 Request 1
  • 155561 Print 4506 Corporate Return 8 Request 1
  • 155562 Print 4506 Corporate Return 9 Request 1
  • 155563 Print 4506 Corporate Return 10 Request 1

There are similar Request 2, Request 3, and Request 4 fields for each of the 10 “Print 4506 Corporate Return” fields.

Note that this new functionality will use new fields to populate the document differently only for lines 6, 7, and 8. All other sections of the Corporate 4506-C will use the same fields as they always have, no changes required. The new fields listed for each Corporate 4506-C line below are triggered if the corresponding “Print 4506 Corporate Return 1 Request 1” is “Yes”. The new fields used to control lines 6, 7 and 8 are:

Line 6. Transcript requested.

  • 155594 4506 Corporate Return 1 Request 1 Form Name
  • 155595 4506 Corporate Return 2 Request 1 Form Name
  • 155596 4506 Corporate Return 3 Request 1 Form Name
  • 155597 4506 Corporate Return 4 Request 1 Form Name
  • 155598 4506 Corporate Return 5 Request 1 Form Name
  • 155599 4506 Corporate Return 6 Request 1 Form Name
  • 155600 4506 Corporate Return 7 Request 1 Form Name
  • 155601 4506 Corporate Return 8 Request 1 Form Name
  • 155602 4506 Corporate Return 9 Request 1 Form Name
  • 155603 4506 Corporate Return 10 Request 1 Form Name

Similar Request 2, Request 3, and Request 4 fields exist for each 4506 Corporate Return [x] Request [y] Form Name.

Line 6a. Return Transcript.

  • 155634 4506 Corporate Return 1 Request 1 Sect. 6a Return Transcript
  • 155635 4506 Corporate Return 2 Request 1 Sect. 6a Return Transcript
  • 155636 4506 Corporate Return 3 Request 1 Sect. 6a Return Transcript
  • 155637 4506 Corporate Return 4 Request 1 Sect. 6a Return Transcript
  • 155638 4506 Corporate Return 5 Request 1 Sect. 6a Return Transcript
  • 155639 4506 Corporate Return 6 Request 1 Sect. 6a Return Transcript
  • 155640 4506 Corporate Return 7 Request 1 Sect. 6a Return Transcript
  • 155641 4506 Corporate Return 8 Request 1 Sect. 6a Return Transcript
  • 155642 4506 Corporate Return 9 Request 1 Sect. 6a Return Transcript
  • 155643 4506 Corporate Return 10 Request 1 Sect. 6a Return Transcript

Similar Request 2, Request 3, and Request 4 fields exist for each 4506 Corporate Return [x] Request [y] Sect. 6a Return Transcript.

Line 6b. Account Transcript.

  • 155674 4506 Corporate Return 1 Request 1 Sect. 6b Account Transcript
  • 155675 4506 Corporate Return 2 Request 1 Sect. 6b Account Transcript
  • 155676 4506 Corporate Return 3 Request 1 Sect. 6b Account Transcript
  • 155677 4506 Corporate Return 4 Request 1 Sect. 6b Account Transcript
  • 155678 4506 Corporate Return 5 Request 1 Sect. 6b Account Transcript
  • 155679 4506 Corporate Return 6 Request 1 Sect. 6b Account Transcript
  • 155680 4506 Corporate Return 7 Request 1 Sect. 6b Account Transcript
  • 155681 4506 Corporate Return 8 Request 1 Sect. 6b Account Transcript
  • 155682 4506 Corporate Return 9 Request 1 Sect. 6b Account Transcript
  • 155683 4506 Corporate Return 10 Request 1 Sect. 6b Account Transcript

Similar Request 2, Request 3, and Request 4 fields exist for each 4506 Corporate Return [x] Request [y] Sect. 6b Account Transcript.

Line 6c. Record of Account.

  • 155714 4506 Corporate Return 1 Request 1 Sect. 6c Record of Account
  • 155715 4506 Corporate Return 2 Request 1 Sect. 6c Record of Account
  • 155716 4506 Corporate Return 3 Request 1 Sect. 6c Record of Account
  • 155717 4506 Corporate Return 4 Request 1 Sect. 6c Record of Account
  • 155718 4506 Corporate Return 5 Request 1 Sect. 6c Record of Account
  • 155719 4506 Corporate Return 6 Request 1 Sect. 6c Record of Account
  • 155720 4506 Corporate Return 7 Request 1 Sect. 6c Record of Account
  • 155721 4506 Corporate Return 8 Request 1 Sect. 6c Record of Account
  • 155722 4506 Corporate Return 9 Request 1 Sect. 6c Record of Account
  • 155723 4506 Corporate Return 10 Request 1 Sect. 6c Record of Account

Similar Request 2, Request 3, and Request 4 fields exist for each 4506 Corporate Return [x] Request [y] Sect. 6c Record of Account.

Remember only one of the three checkboxes should be checked in 6 (6a, 6b, or 6c) since “6c. Record of Account” includes both the” 6a. Return Transcript” and “6b. Account Transcript” sets of information. For more information, see our article here: https://compliance.docutech.com/2021/10/26/filling-out-form-4506-c/

Line 7. Form W-2, Form 1099 series, Form 1098 series, or Form 5498 series transcript.

  • 155754 4506 Corporate Return 1 Request 1 Sect. 7 W2 1099 1098 or 5498
  • 155755 4506 Corporate Return 2 Request 1 Sect. 7 W2 1099 1098 or 5498
  • 155756 4506 Corporate Return 3 Request 1 Sect. 7 W2 1099 1098 or 5498
  • 155757 4506 Corporate Return 4 Request 1 Sect. 7 W2 1099 1098 or 5498
  • 155758 4506 Corporate Return 5 Request 1 Sect. 7 W2 1099 1098 or 5498
  • 155759 4506 Corporate Return 6 Request 1 Sect. 7 W2 1099 1098 or 5498
  • 155760 4506 Corporate Return 7 Request 1 Sect. 7 W2 1099 1098 or 5498
  • 155761 4506 Corporate Return 8 Request 1 Sect. 7 W2 1099 1098 or 5498
  • 155762 4506 Corporate Return 9 Request 1 Sect. 7 W2 1099 1098 or 5498
  • 155763 4506 Corporate Return 10 Request 1 Sect. 7 W2 1099 1098 or 5498

Similar Request 2, Request 3, and Request 4 fields exist for each 4506 Corporate Return [x] Request [y] Sect. 7 W2 1099 1098 or 5498.

Line 8. Year or period requested.

  • 155794 4506 Corporate Return 1 Request 1 Sect. 8 End Date 1
  • 155795 4506 Corporate Return 2 Request 1 Sect. 8 End Date 1
  • 155796 4506 Corporate Return 3 Request 1 Sect. 8 End Date 1
  • 155797 4506 Corporate Return 4 Request 1 Sect. 8 End Date 1
  • 155798 4506 Corporate Return 5 Request 1 Sect. 8 End Date 1
  • 155799 4506 Corporate Return 6 Request 1 Sect. 8 End Date 1
  • 155800 4506 Corporate Return 7 Request 1 Sect. 8 End Date 1
  • 155801 4506 Corporate Return 8 Request 1 Sect. 8 End Date 1
  • 155802 4506 Corporate Return 9 Request 1 Sect. 8 End Date 1
  • 155803 4506 Corporate Return 10 Request 1 Sect. 8 End Date 1

Similar Request 2, Request 3, and Request 4 fields exist for each 4506 Corporate Return [x] Request [y] Sect. 8 End Date [z], with the ‘z’ variable representing the first through the fourth date in each Section 8. This means there are 160 fields in all (10 x 4 x 4) for this functionality in Section 8.

Please note the following:

  • Our Corporate 4506-C copy (Cx17841) functionality will not change unless the new fields above are used.
  • Custom copies of the Corporate 4506-C have not been updated with this new functionality.

These changes will be in effect on September 28, 2022 and are available on Stage 1 and State 2 for client testing. If you have any question or concerns about these changes, please contact Client Support at 1.800.497.3584.

DR-136285

The preceding is for informational purposes only and is not and may not be construed as legal advice. No third-party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third party should consult with an attorney prior to embarking upon any specific course of action.