Thank you, Ms. St Ores presentation is by FAR the clearest and most comprehensive demonstration. The audio is perfect and she doesn't make the audience suffer through any time wasting silliness. She's smart and no nonsense- forget the talking pig heads or slick suits that aren't specific.
[10:14am PST] @SaintOres.com Thanks Shawn, for the nice comment. I put a lot of time and effort into these videos, so it's nice when people appreciate them.
I just wanted to thank you for your tutorial videos because you aren't only showing us how to fill the forms out correctly you are also explaining why we should accurately determine our personal responses to the questions being requested by the SBA. I think your company has been a GOD send for small business entities because I personally wouldn't have been able to complete all the forms that I needed to complete my EIDL application alone. Thank you so much for sharing your educated knowledge freely with everyone in these videos. May GOD so graciously bless you and keep your business flourishing in the future!
@@KatieStOresCFPChFCEA RUclips REMOVED THE AUDIO ON THIS VIDEO! Please submit a complaint to youtube request WHY they would even do this to you! I've tried this video on several browsers, the only "audio" part of this video available is the music/intro part. The rest of it with you talking was BLOCKED by youtube! That's such a dik move of them! FILE A COMPLAINT AGAINST THEM!
@@nessie1668 [2:33pm PST] @SaintOres.com Hey Nessie, I don't think they removed the audio. I think this was one of the videos were I only recorded on only one track, even though it's supposed to be in stereo. I know a lot about taxes and finance, but next to nothing about videos and RUclips. So I started recording in mono. Thanks a bunch for letting me know and looking out for me.
@@KatieStOresCFPChFCEA I'm reading the comments and it looks like everyone else before me was able to hear the audio. So there was audio at one point, but it looks like something happened with your video recently, I'm mostly guessing youtube staff is involved, and they removed the audio on your video. They do it to a lot of content creators, even disabling their comments section without the uploader's permission. They remove audio on videos as well, they are such a biased organization! It has nothing to do with what recorder type you used, mono or stereo, someone removed your audio, and I'm 100% sure it's the youtube staff members!
Hello, you did not go over a VERY important part, and that is checking the box above the signature, stating that you are the person who is authorized to fill this form out. If someone doesn't do that, it will not be processed. Not doing that will definitely get their request rejected. You need to include that. I thought you should know.
Thanks Faith, I'll stress that in the next video. I also usually point out the fact that unless the form is signed and dated, it is not valid and will be rejected. Thanks again for the input.
Hello thanks for the videos explaining everything. SBA sent an emial asking that they have not received signed form 4506-T. Do i fill out and send it to SBA? OR DO I get the transcript from IRS myself? Thanks
Hello Katie, I see that this has been asked and answered already but I still do not understand. I am a sole prop using my name and SSN on the 4506T - my 2019 taxes include BOTH my personal mailing address on page 1 of my 1040 and my business address is on my schedule C. Which address would I use on 4506T? Thank you for your help!
Hello Anacapa, It is best in your situation (Schedule C) to use the address that is in your 1040, right after your name. (If you found this helpful, could you help me out by giving me a quick review at google.com/localservices/review/taxesbykatie )
Hi Katie I send them this form with 4 times with my 1040 since I am independent contractor but they keep sending it back. I did 6 c the rest as your video says. Do I need to send my 1099 with my 1040 will then they accept it.
Hi Katie, just watched your tutorial, thank you so much for sharing. My question is, can I request and print by business tax online. I tried going to the IRS website, didn't see an option to create an account to view my business tax account.
Hello Verlisia, I believe that the new transcript online tool is for individual tax returns only. You can order a transcript of your business return by calling the IRS hotline 1-800-908-9946
Quick question please Mrs Katie , what do I type in line 6 if because I have form 1120 for the year 2019 and 1040 for year 2018 and 2017, can I write both? or SBA will reject it if do, I'm so confused on what to do. I will really appreciate your assistance
[10:11am PST] @SaintOres.com Hello Becky, You should try reaching out to the SBA directly and clarifying it with them. Here is their contact number. You can contact the SBA's Answer Desk by e-mail answerdesk@sba.gov or by telephone at 800-827-5722.
[12:11pm PST] @SaintOres.com Hello Zaraya, They will not take the one you have on hand. You'll to fill out the SBA specific form. Here is the link... www.sba.gov/sites/default/files/2020-08/SBA%20Form%204506T%20-%20March%202019%20Version-508.pdf
Hi, What happens if my tax return is on a fiscal year ? For example my 2019 return dates are 11/1/2019 - 10/31/2020. What dates should I put on line 9?
[1:03pm PST] @TaxesbyKatie.com Hey Kelly, Try calling the help desk at the IRS (1‐800‐829‐1040) and ask them to take a look at it. They are going to be much busier than normal since it's the height of tax season.
Hello Rabany, If you are requesting transcripts for the SBA disaster loan application then use Disaster Request for Transcript of Tax Return. Here is the link www.sba.gov/sites/default/files/2020-08/SBA%20Form%204506T%20-%20March%202019%20Version-508.pdf. For other purposes use the general 4506-T form.
Hey Lets Eat, of the world famous LetsEatCuisine Cooking Channel, The EIDL advance is forgivable, while the loan is not. By the way, your coconut rice recipe is the best one I have ever tried.
@@KatieStOresCFPChFCEA You are very kind and thank you so much for the support, I appreciate it. I have never heard of the EIDL Advance. Also, great videos! Letting those ads play cause you know I got you girl !
[10:12am PST] @SaintOres.com Hey Major, Sole Prop business is reported on Schedule C of your 1040. Since 1040 is your personal return, it will require your SS number.
@@KatieStOresCFPChFCEA I have another question, line 3 says "Current NAME, address... ect" in line 3 do you have first put your name, then your address?
Should 4506t have my home address or my business address. I'm a single member llc,sole prop but file married filing jointly. 1st page on 1040 is my home address but my schedule c has my business address
Quick question: My SBA loan officer has told me that she has requested the transcripts from the IRS for my business, which is essentially this too right? Can't I just do it online rather than wait for her?
Thanks. Great info. I called the SBA twice today. I saw 4506T on my portal. It is e signed. SBA agent said it's not necessary to personally sign this form. My question is will IRS accept e signed request from SBA? Should I print form fill it out and mail to IRS. How do I send IRS info to SBA for they can complete my application for the grant. I appreciate your help. It's hard to believe the SBA they said I don't have to do anything else.
Hello Sandra, The SBA and the Dept of the Treasury (IRS) have a direct partnership with one another. You should do exactly as they say and check on everything occasionally so you don't fall through the cracks.
Hi Katie. You didn't talk about checking the box on the lower left corner - right above the signature line. Aren't you supposed to check that box too, as the instructions tell you to?
hi katie - wil sba accept a copy of h & r block tax returns or do i have to request it from irs? also, will sba accept digital signature on ppp/eidl forms or do we have to print. sign & then scan it? thanx.
1. Questions (1)your will have to request the 4506 from the irs or download the form as stated in the video. 2. Question (2) you will need to provide a “wet” signature meaning print and sign the documents. Hope that helps.
Hello Alex, They should accept the copies of TR prepared by H&R Block. Regarding the electronic signature - The SBA site indicates that Electronic signatures may be accepted on all documents requiring signatures. For 4506-T, this form requires a WET signature. Checklist These items must be submitted for all applications Loan application (SBA Form 5), completed and signed (this is electronic/online in the portal) Tax Information Authorization (IRS Form 4506-T), completed and signed by each applicant, each principal owning 20 percent or more of the applicant business, each general partner or managing member; and, for any owner who has more than 50 percent ownership in an affiliate business. Affiliates include, but are not limited to, business parents, subsidiaries, and/or other businesses with common ownership or management Complete copies, including all schedules, of the most recently filed Federal income tax returns for the applicant business; an explanation if not available Personal Financial Statement (SBA Form 413) completed, signed, and dated by the applicant, each principal owning 20 percent or more of the applicant business, and each general partner or managing member Schedule of Liabilities listing all fixed debts (SBA Form 2202 may be used)
Thank you for this, it helps a lot! My question is...I want to apply for this grant for my corporation but the docusign envelope they sent has my ssn and 1040 already filled in, and I want to change it to my EIN and 1120...it isn't allowing me to edit those boxes. I tried calling and just get recordings, what should I do?
[11:21am PST] @SaintOres.com Hey Pasqualino, The 4506T gives permission for the IRS to provide the SBA your tax return information when applying for disaster loan assistance. The lender must verify information in tax transcripts against information you provided and evaluate repayment of the loan.
So I'm filling mine out for a edrl loan. 2019 I did a nonfiler's claim.. 2020 was a regular tax year They are only requesting 2019 tax documents and this form.. I don't want to screw it up.. The proof of my new address is the reason I'm filling out this form for reevaluation. In 2019 my address was in New Mexico and in 2021 I moved to Tennessee Tennessee is in a low-income neighborhood New Mexico is not so my proof of address is here I just do not want to screw up on the form that they are requesting cuz it could prolong my benefits for three more months
Hey David, You should try reaching out to the SBA directly and clarifying it with them. Here is their contact number. You can contact the SBA's Answer Desk by e-mail answerdesk@sba.gov or by telephone at 800-827-5722.
Hi Katie, I’m not able to get my 2019 transcripts because I only recently filed my taxes and the IRS is backlogged by millions of returns right now. So now I’m wondering if I’ll be declined because I can’t get them? You would think the powers that be at the SBA would know this wouldn’t you? Especially since I’m thinking there must be hundreds of thousands of applicants in the same position as me. Thank you.
[10:43 AM PST] @TaxesbyKatie.com Hey Rich, You have to clear that with the SBA directly. Here is their contact number. You can contact the SBA's Answer Desk by e-mail answerdesk@sba.gov or by telephone at 800-827-5722.
[9:42am PST] @TaxesbyKatie.com Hey Italo, It is not OK. You have to correct it and file the 1120S instead. A Form 1120 tax return is filed for corporations where Form 1120S tax return is filed by corporations that have elected the “S” status. The income reported on a 1120S tax return flows through directly to the owner of the business.
As an “independent contractor” who gets 1099 shall I say I am a sole proprietor or owner (those where the two choices in the 4506t form). ? I chose sole proprietor- hope that was ok .
If someone uses Jan 2020 Feb 2020 to verify income because not being in business during 2019, where do we divide it by 2 months ? Schedule C ask for 12 months net.
Hey Chiraq, if you began operations after June 30, 2019, you can apply for the PPP using your 1099-MISC forms from January 1 to February 29, 2020. The amount that you are eligible is 2.5 times your average monthly net income. You can find this amount by taking your net income over those two months, dividing by 2 to get the average, then multiplying it by 2.5.
Hello, SBA keeps sending the form back to me. We are exempt from filing 990 or any tax return as a 501c3 NPO. I sent them the IRS determination letter. Do I select box 7? They have autoselected 6c. Do I then need to put years in? Do I leave 6 blank? Thank you!
[1:23pm PST] @TaxesbyKatie.com Hey Jeff, The SBA wants you to mark 6C on your 4506-T, that is why it comes auto-selected. Considering the uniqueness of your situation, you should try reaching out to the SBA directly. Here is their contact number. You can contact the SBA's Answer Desk by e-mail answerdesk@sba.gov or by telephone at 800-827-5722.
@@jeffzlotnik3078 [2:13pm PST] @TaxesbyKatie.com Hey Jeff, Do not leave leave it blank. Otherwise you'll get the form back again. You'll have to contact the SBA.
@@KatieStOresCFPChFCEA Ok thank you! I called them and they said it is with a loan officer and can not provide me any additional information. I will put 990 in line 6, even though we do not file it. Would you suggest checking box 7? This just does not make sense for NPOs.
@@jeffzlotnik3078 Hey Jeff, Checking box 7 gets you a document that proves that the IRS has no record of a filed Form 990 for the tax years requested. It does NOT indicate whether you were required to file a return for that year. If it is OK with you, then mark box 7. Sorry I could not help you more. Good luck!
@@tequilajones5529 Hello Tequila, I'll check into the sound to see if it's working properly. At least the sub titles helped. Thanks for letting me know about the sound.
[10:36 AM PST] @TaxesbyKatie.com Hey Lavender, If you are a single member LLC, you are requesting 1040. If you made an election to be treated as an S-corp, then it would be a 1120-S. If you are a partnership then it would be a 1065.
[12:51pm PST] @SaintOres.com Hey Elaine, Give the SBA a call since they might have different mailing addresses by regions of the country. You can contact the SBA's Answer Desk by e-mail answerdesk@sba.gov or by telephone at 800-827-5722.
Hi please i have ana issue i submitted the form online via sba email but they keep responding me time to time that they dont recieve the form and also i wasn't able to sing it online plz help katie thanks
@@KatieStOresCFPChFCEA Ok. This entire process is done online correct? So you will be able to upload these transcripts onto the application? Im inquiring about the grant, not the loan...
@@KatieStOresCFPChFCEA Thank you much for taking the time :) I had one more question... Does it matter how you filed your returns? For an example, i filed my 2017 and 2018 as 1040 scheduled C. But my 2019 was filed as a normal 1040. My business is regristered as a sole proprietorship with a EIN
Hey Confessions, Yes, you should be able to complete the entire process online. However, my understanding is that your business was not in operation in 2019 (you did not file a Sch C in 2019), which makes you eligibility for the loan questionable.
Hey am watching the 4506 T video my question is am drive for uber and I fill out that for couple weeks ago and they say put the right transcript (line 6) my tax form is 1040 so what I have to put ? Thanks
Hi Katie. Will you explain to us how to fill out the forms for PPP#2? We’d truly appreciate it. I just like the way you explain, it’s so clear. Thank you.
I sent the form 4506T several times, but thy keep saying I filled it incorrectly, Quick question If I applied for EIDL on the 20th of November, but the grant/ Advance wasn't available will j still get the full 10k they are proposing now
I've been waiting since April 1st, 2020 for the EIDL Grant Advance, I have a business in low income census, less than 10 employees and more then 50% revenue loss from 2020 and 2019. I have emailed the SBA several times, no one will help me. I also started to email my state senator. Anything else I can do? Thank you!
Hey Victoria, Sounds like you are doing all the right things. The only thing I can add is the SBA PPP Help line. 1-800-659-2955 Try calling them also. Good luck
Thank you Katie for the video, however I still can’t understand what’s it for. As a sole proprietor I do plan to apply for EIDL Advanced grant. I thought I would just show them my Schedule C, wouldn’t I? Would I need to request from the IRS those forms you were talking about in your video? Thank you.
Hello Shanna May, according to their website - SBA requires you to complete the IRS Form 4506-T as a part of your disaster loan application submission. Additional information might be requested upon review and vary on a case by case basis.
I’m an independent contractor and filed taxes last year, and received a 1099 for this year also. I’m trying to fill this 4506 t but can’t find my EIN number. I only have a TIN number but it’s my social security. How do I go about this? Thank you
Me too!! I started Jan 1, 2020. There must be another way to meet requirements other than a 2019 tax return we don’t have cause business was non existent at that time! Another way to disqualify people who rightly qualify.
Hello , so I just went on my online portal on SBA & they had me to sign a document stating that they could receive a copy of my tax transcript. How long after I sign it should I get a reply ?
[12:31pm PST] @TaxesbyKatie.com Hey Leayah, The IRS provides the return transcript generally within approximately 2-3 business days to a third party with the consent of the taxpayer.
Hey Samantha, For the best directions, it might be best to contact the SBA Disaster Assistance Customer Service Center - call 1-800-659-2955 or email disastercustomerservice@sba.gov.
Please help I got the eidl before I did 2019 taxes as I did extension. I estimated business income at the time and received loan. I qualified and filled out EIDL advance grant now. They are requesting the required tax return from IRS. If my tax return income is different & lower income amount then what i estimated on accepted sba application, is that going to disqualify me? Or worse yet can they take away the loan they already dispersed or simply deny the targeted eidl grant? appreciate any knowledge and or advice
@@KatieStOresCFPChFCEA Thank you for the reply. I'm worried the loan officer would see a difference (although my best guess at the time) would flag it. Was told they can freeze already dispersed loans if they think you knowlingly gave false earning for bigger loan amount. Obviously this isn't my case but its up to loan officer I'm told. Is there a general rule of how much of a difference is not a red flag? Have you any experience on others with same questions/results? Thank you kindly
So is this form just to request tax documents? What if you HAVE your tax documents. I thought this was to request money. AND I only have two years tax returns because previous year was after a divorce so the State where I live took most of my bank to make my ex. husbands late payments. Anyways I just filed my 2020 & 2019 and have copies.
Hey Mild, Sorry, but that's not a service I offer. But if you go to a company like Womply, Cross River, Blue Acorn, etc, they should be able to guide you through the online process for both PPP and EIDL. That's their job. Then you won't have to pay anyone. The deadline for PPP is the end of the month.
At the top should I put my name or my business name? In my schedule c it has my name as proprietor and on c underneath it had my business name. If I use my name do I put in my social or tax id? Thank you for your help
Hey Sammy, Since you are the sole proprietor, in the line up top, put your First and Last name. In the DBA section, put your business name. These should match your tax return. You can use either SSN or EIN. If this is your second round PPP application, just match it to the first one. @TaxesbyKatie.com
[10:11am PST] @TaxesbyKatie.com Hello Ahmed, Since you are a single-member LLC, a disregarded entity, you file your business return with your personal 1040 as Schedule C. Hence, when you fill out your 4506-T, you include your first and last name as it appears on your 1040.
Hello. If I am doin a 4506-T to verify my I.D. can you plz tell me which box I check for my transcript. Is it box. (A) Return Transcript. (B) Account Transcript (C) Record of Account I'm not exactly sure which one.Also is it possible to check off more than one box?Please let me know ASAP. Thank you so much
[1:56 PM PST] @TaxesbyKatie.com Hello 2-10, Form 1040 EZ doesn't exist anymore. If you are requesting a copy/transcripts of your personal return then you will put 1040 as a requested form. Mark box 6 (C) which provides the most detailed information.
@@KatieStOresCFPChFCEA okay. Also can you please tell me if the if the 4506T can get me a transcript and record acount for 2012 taxes. Because the issue is ...in order for me to verify my I.D to the irs they say I need a PREVIOUS tax return along with my current to verify. They sent a 6331C letter, they said they sent it because they haven't heard from me in a long time. The last time I filed was for 2012. I was told they destroy 1040s after 7yrs. (Don't know if true or not).So I'm trying find the right form to get any type of info on my 2012(my last filed) tax return. That's part of requirements to verify I.D.to them. Which is really stupid. Why do they want me to get something that they already have possession of in the first place.They just trying to make me jump through hoops it seems.
@@KatieStOresCFPChFCEA The other thing I'm confused about is at the top where it says current address i was told that's where it will be sent. But on the part that says since 2019 the transcript will be sent to the address on RECORD. Well,the address on my 2012 return is not my current, it's the one on record. So if true how do I get it sent to my current address .Can u plz explain for me. It's been extremely exhausting 😪 trying to figure this stuff out so I can get my $. Thank you so much
@@twotenslim3767 [10:05 AM PST] @TaxesbyKatie.com Hey Two, On Line 3, you include your current address and on Line 4, you have to include the address on the last filed tax return if it is different from your current address.
[1:23pm PST] @TaxesbyKatie.com Hello Samklas, You should be able to use 2019 or 2020. I think a lot of people used 2019 because they didn't have their 2020 finished.
@@KatieStOresCFPChFCEA the SBA didn’t accept 2020 tax return have they accepted it would’ve made about 250k difference so instead we got 250k we could’ve gotten 500k based on their formula For example if business made 252k they divided by 12 then X by 24 and that could’ve put us right around 500k but they used 2019 return where business only made 143k .
Hello, the SBA agent told me I can request the tax returns transcripts in IRS.gov online, BUT when I try to do it it asks for personal information but I don't need personal taxes, the need for my LLC for the EIDL application. id there a way to get them online for an LLC??
[10:03am PST] @SaintOres.com Hello Patricia, You will see on the IRS website where it says: "Caution: The Get Transcript Service is for individual taxpayers to retrieve their own transcripts for their own purposes. Use by any other entities is prohibited." That is why it is asking you for your personal information.
![Who Wrote a Short Story That Seriously Disturbed a Teacher? | Dirty Laundry x Smosh [Full Episode]](http://i.ytimg.com/vi/bvHAy_rKoEI/mqdefault.jpg)
Thank you, Ms. St Ores presentation is by FAR the clearest and most comprehensive demonstration. The audio is perfect and she doesn't make the audience suffer through any time wasting silliness. She's smart and no nonsense- forget the talking pig heads or slick suits that aren't specific.
[10:14am PST] @SaintOres.com
Thanks Shawn, for the nice comment. I put a lot of time and effort into these videos, so it's nice when people appreciate them.
I just wanted to thank you for your tutorial videos because you aren't only showing us how to fill the forms out correctly you are also explaining why we should accurately determine our personal responses to the questions being requested by the SBA. I think your company has been a GOD send for small business entities because I personally wouldn't have been able to complete all the forms that I needed to complete my EIDL application alone. Thank you so much for sharing your educated knowledge freely with everyone in these videos. May GOD so graciously bless you and keep your business flourishing in the future!
[3:53pm PST] @TaxesbyKatie.com
Thanks for the beautiful comment Darlene. I thought only my Mom wrote that nice of things about me.
@@KatieStOresCFPChFCEA RUclips REMOVED THE AUDIO ON THIS VIDEO! Please submit a complaint to youtube request WHY they would even do this to you! I've tried this video on several browsers, the only "audio" part of this video available is the music/intro part. The rest of it with you talking was BLOCKED by youtube! That's such a dik move of them! FILE A COMPLAINT AGAINST THEM!
@@nessie1668 [2:33pm PST] @SaintOres.com
Hey Nessie, I don't think they removed the audio. I think this was one of the videos were I only recorded on only one track, even though it's supposed to be in stereo. I know a lot about taxes and finance, but next to nothing about videos and RUclips. So I started recording in mono. Thanks a bunch for letting me know and looking out for me.
@@KatieStOresCFPChFCEA I'm reading the comments and it looks like everyone else before me was able to hear the audio. So there was audio at one point, but it looks like something happened with your video recently, I'm mostly guessing youtube staff is involved, and they removed the audio on your video. They do it to a lot of content creators, even disabling their comments section without the uploader's permission. They remove audio on videos as well, they are such a biased organization! It has nothing to do with what recorder type you used, mono or stereo, someone removed your audio, and I'm 100% sure it's the youtube staff members!
Thanks... I'll check after work today. I just try to post helpful videos and answer everyone's question. Not too sure about all the other stuff.
Excellent video and well done. Thank you for getting right to the point and speaking direct and detailed without trying to sell anything else.
[4:33pm PST] @SaintOres.com
Thanks Jennifer, Glad it was helpful! I also dislike waiting through two minutes of like and subscribe begging....
Hello, you did not go over a VERY important part, and that is checking the box above the signature, stating that you are the person who is authorized to fill this form out. If someone doesn't do that, it will not be processed. Not doing that will definitely get their request rejected. You need to include that. I thought you should know.
Thanks Faith, I'll stress that in the next video. I also usually point out the fact that unless the form is signed and dated, it is not valid and will be rejected. Thanks again for the input.
@@KatieStOresCFPChFCEA You are welcome, and thank you for sharing the information!
This lady is a blessing. Thanks!
[11:11am PST] @SaintOres.com
Thanks SoFaReal... That's my first blessing.
Thank you so much for your help because of your help I qualified for my Sba . Keep doing the good work The Lord will bless you
[09:37am PST] @TaxesbyKatie.com
Thanks James, It's my pleasure and I'm glad it helped.
Her voice is so unique and sexy🥺🥺
Hello thanks for the videos explaining everything. SBA sent an emial asking that they have not received signed form 4506-T.
Do i fill out and send it to SBA?
OR DO I get the transcript from IRS myself?
Thanks
[10:11am PST] @SaintOres.com
Hey Travis, You have to submit completed, signed and dated 4506-T to SBA.
Hello Katie, I see that this has been asked and answered already but I still do not understand. I am a sole prop using my name and SSN on the 4506T - my 2019 taxes include BOTH my personal mailing address on page 1 of my 1040 and my business address is on my schedule C. Which address would I use on 4506T? Thank you for your help!
Hello Anacapa, It is best in your situation (Schedule C) to use the address that is in your 1040, right after your name. (If you found this helpful, could you help me out by giving me a quick review at google.com/localservices/review/taxesbykatie )
Hi Katie I send them this form with 4 times with my 1040 since I am independent contractor but they keep sending it back. I did 6 c the rest as your video says. Do I need to send my 1099 with my 1040 will then they accept it.
Hi Katie, just watched your tutorial, thank you so much for sharing. My question is, can I request and print by business tax online. I tried going to the IRS website, didn't see an option to create an account to view my business tax account.
Hello Verlisia, I believe that the new transcript online tool is for individual tax returns only. You can order a transcript of your business return by calling the IRS hotline 1-800-908-9946
Quick question please Mrs Katie , what do I type in line 6 if because I have form 1120 for the year 2019 and 1040 for year 2018 and 2017, can I write both? or SBA will reject it if do, I'm so confused on what to do. I will really appreciate your assistance
[10:11am PST] @SaintOres.com
Hello Becky, You should try reaching out to the SBA directly and clarifying it with them. Here is their contact number. You can contact the SBA's Answer Desk by e-mail answerdesk@sba.gov or by telephone at 800-827-5722.
@@KatieStOresCFPChFCEA ok will do, thank you so much
[12:11pm PST] @SaintOres.com
You're welcome Becky.
Very detailed and easy to understand..
[12:01pm PST] @SaintOres.com
Thanks Al, Glad it was helpful!
Hello!
This question might be out the box. But do the eidl grant funds come in the name you put on the 4506t?
[4:43pm PST] @SaintOres.com
Hey Charmaine, EIDL grants are issued to the person (entity) on the EIDL application.
what if you have the transcript? Am I still required to fill this out?
[12:11pm PST] @SaintOres.com
Hello Zaraya, They will not take the one you have on hand. You'll to fill out the SBA specific form. Here is the link... www.sba.gov/sites/default/files/2020-08/SBA%20Form%204506T%20-%20March%202019%20Version-508.pdf
Hi,
What happens if my tax return is on a fiscal year ? For example my 2019 return dates are 11/1/2019 - 10/31/2020. What dates should I put on line 9?
[1:16pm PST] @SaintOres.com
Hello Avi, Just enter the ending date of your fiscal period requested.
How long does it take for the form to expire? How much time does SBA keep the forms before it expires?
[10:33am PST] @SaintOres.com
Hello UC, The signature date on the 4506-T is good for 120 days.
Why IRS not sent this form to people got money from SBA
Hi for the current address do I put MY personal address on my taxes or my business address on my taxes? I filed taxes using my personal SSN.
[4:16pm PST] @TaxesbyKatie.com
Hello Kelly, you include your current mailing address, it is usually the same as on the tax return you are requesting.
@@KatieStOresCFPChFCEA I keep getting a request to send a new 4506T form. What am I doing wrong? Is there a way you can help me or take a look?
[1:03pm PST] @TaxesbyKatie.com
Hey Kelly, Try calling the help desk at the IRS (1‐800‐829‐1040) and ask them to take a look at it. They are going to be much busier than normal since it's the height of tax season.
Should we use this or "Disaster Request for Transcript of Tax Return"???
Hello Rabany, If you are requesting transcripts for the SBA disaster loan application then use Disaster Request for Transcript of Tax Return. Here is the link www.sba.gov/sites/default/files/2020-08/SBA%20Form%204506T%20-%20March%202019%20Version-508.pdf. For other purposes use the general 4506-T form.
What happens if you didn’t file your 2019 and 2020 tax return for your business? Will that be reason for a decline?
[1:23pm PST] @TaxesbyKatie.com
Hey Lovely, Yes, that could be the reason for a decline.
Gotcha! Understood
Wait, so i can fill out the 4506T form as well?
Hi Katie, Is there a forgivness application for the SBA EIDL or is this not a forgiveness loan?
Hey Lets Eat, of the world famous LetsEatCuisine Cooking Channel, The EIDL advance is forgivable, while the loan is not. By the way, your coconut rice recipe is the best one I have ever tried.
@@KatieStOresCFPChFCEA You are very kind and thank you so much for the support, I appreciate it. I have never heard of the EIDL Advance. Also, great videos! Letting those ads play cause you know I got you girl !
Love your Lets Eat videos also. And I'll never skip your ads either. Good Luck.
What about sole prop business?? do you provide the social or the EIN??
[10:12am PST] @SaintOres.com
Hey Major, Sole Prop business is reported on Schedule C of your 1040. Since 1040 is your personal return, it will require your SS number.
@@KatieStOresCFPChFCEA thank you so much
[11:36am PST] @TaxesbyKatie.com
You're welcome Major...
@@KatieStOresCFPChFCEA I have another question, line 3 says "Current NAME, address... ect" in line 3 do you have first put your name, then your address?
[3:23pm PST] @TaxesbyKatie.com
Hey Major, Line 3 is for the address.
Should 4506t have my home address or my business address. I'm a single member llc,sole prop but file married filing jointly. 1st page on 1040 is my home address but my schedule c has my business address
Quick question: My SBA loan officer has told me that she has requested the transcripts from the IRS for my business, which is essentially this too right? Can't I just do it online rather than wait for her?
Hello Heylm, I would wait to avoid confusion.
Thanks. Great info. I called the SBA twice today. I saw 4506T on my portal. It is e signed. SBA agent said it's not necessary to personally sign this form. My question is will IRS accept e signed request from SBA? Should I print form fill it out and mail to IRS. How do I send IRS info to SBA for they can complete my application for the grant. I appreciate your help. It's hard to believe the SBA they said I don't have to do anything else.
Hello Sandra, The SBA and the Dept of the Treasury (IRS) have a direct partnership with one another. You should do exactly as they say and check on everything occasionally so you don't fall through the cracks.
@@KatieStOresCFPChFCEA thanks Katie. The SBA can be tricky.
Hi Katie. You didn't talk about checking the box on the lower left corner - right above the signature line. Aren't you supposed to check that box too, as the instructions tell you to?
[1:12PM PST] @TaxesbyKatie.com
Barev Caren, You are correct. You must check the box in the signature area.
Thank you so much for this video
[11:01pm PST] @SaintOres.com
Thanks Babul, You are so welcome!
hi katie - wil sba accept a copy of h & r block tax returns or do i have to request it from irs? also, will sba accept digital signature on ppp/eidl forms or do we have to print. sign & then scan it? thanx.
Yes I was wondering the same
1. Questions (1)your will have to request the 4506 from the irs or download the form as stated in the video.
2. Question (2) you will need to provide a “wet” signature meaning print and sign the documents.
Hope that helps.
Hello Alex, They should accept the copies of TR prepared by H&R Block. Regarding the electronic signature - The SBA site indicates that Electronic signatures may be accepted on all documents requiring signatures. For 4506-T, this form requires a WET signature.
Checklist
These items must be submitted for all applications
Loan application (SBA Form 5), completed and signed (this is electronic/online in the portal)
Tax Information Authorization (IRS Form 4506-T), completed and signed by each applicant, each principal owning 20 percent or more of the applicant business, each general partner or managing member; and, for any owner who has more than 50 percent ownership in an affiliate business. Affiliates include, but are not limited to, business parents, subsidiaries, and/or other businesses with common ownership or management
Complete copies, including all schedules, of the most recently filed Federal income tax returns for the applicant business; an explanation if not available
Personal Financial Statement (SBA Form 413) completed, signed, and dated by the applicant, each principal owning 20 percent or more of the applicant business, and each general partner or managing member
Schedule of Liabilities listing all fixed debts (SBA Form 2202 may be used)
I came for the cheeks and stayed for the information
Hello.. am married but filed separate in 2019.. how do I fill out the form?. Do I still include my spouse?
[10:23am PST] @TaxesbyKatie.com
Hello Solomon, Since you filed "Married filing separately" you just include your name on Line 1a and omit Line 2a.
Thank you for this, it helps a lot! My question is...I want to apply for this grant for my corporation but the docusign envelope they sent has my ssn and 1040 already filled in, and I want to change it to my EIN and 1120...it isn't allowing me to edit those boxes. I tried calling and just get recordings, what should I do?
[10:43am PST] @SaintOres.com
Hey Chiropractic, The only way to address the issue is by trying to get hold of them. Good Luck!
Very informative for me
Glad it was helpful!
Thanks for quick response
You're welcome... Now it's out to pick up PHO.
I need request this form
Or not , I’m have 1000 from SBA
Why do I need a transcript or copy if I have that already
[11:21am PST] @SaintOres.com
Hey Pasqualino, The 4506T gives permission for the IRS to provide the SBA your tax return information when applying for disaster loan assistance. The lender must verify information in tax transcripts against information you provided and evaluate repayment of the loan.
Thanks
No problem
Thank you!
Thanks Flower, You're welcome!
Do you put the business address or your personal address? Thank you so much for this video!!
[1:12pm PST] @SaintOres.com
Hello Stephanie, Generally, it is the address on the tax return that you are requesting.
Thank you for sharing. Have you filled out s a form 3502 for the endless.
So I'm filling mine out for a edrl loan.
2019 I did a nonfiler's claim..
2020 was a regular tax year
They are only requesting 2019 tax documents and this form..
I don't want to screw it up..
The proof of my new address is the reason I'm filling out this form for reevaluation.
In 2019 my address was in New Mexico and in 2021 I moved to Tennessee Tennessee is in a low-income neighborhood New Mexico is not so my proof of address is here I just do not want to screw up on the form that they are requesting cuz it could prolong my benefits for three more months
Hey David, You should try reaching out to the SBA directly and clarifying it with them. Here is their contact number. You can contact the SBA's Answer Desk by e-mail answerdesk@sba.gov or by telephone at 800-827-5722.
Hi Katie, I’m not able to get my 2019 transcripts because I only recently filed my taxes and the IRS is backlogged by millions of returns right now. So now I’m wondering if I’ll be declined because I can’t get them? You would think the powers that be at the SBA would know this wouldn’t you? Especially since I’m thinking there must be hundreds of thousands of applicants in the same position as me. Thank you.
[10:43 AM PST] @TaxesbyKatie.com
Hey Rich, You have to clear that with the SBA directly. Here is their contact number. You can contact the SBA's Answer Desk by e-mail answerdesk@sba.gov or by telephone at 800-827-5722.
Hi. I have an S Corp. My tax form is 1120S but I filled 1120 only. Is that Ok ?
[9:42am PST] @TaxesbyKatie.com
Hey Italo, It is not OK. You have to correct it and file the 1120S instead. A Form 1120 tax return is filed for corporations where Form 1120S tax return is filed by corporations that have elected the “S” status. The income reported on a 1120S tax return flows through directly to the owner of the business.
As an “independent contractor” who gets 1099 shall I say I am a sole proprietor or owner (those where the two choices in the 4506t form). ? I chose sole proprietor- hope that was ok .
[12:21pm PST] @TaxesbyKatie.com
Hey Zibtihaj, Either one is fine.
@@KatieStOresCFPChFCEA thx
@@zibtihaj3213 You're welcome
If someone uses Jan 2020 Feb 2020 to verify income because not being in business during 2019, where do we divide it by 2 months ? Schedule C ask for 12 months net.
Hey Chiraq, if you began operations after June 30, 2019, you can apply for the PPP using your 1099-MISC forms from January 1 to February 29, 2020. The amount that you are eligible is 2.5 times your average monthly net income. You can find this amount by taking your net income over those two months, dividing by 2 to get the average, then multiplying it by 2.5.
Hello, SBA keeps sending the form back to me. We are exempt from filing 990 or any tax return as a 501c3 NPO. I sent them the IRS determination letter. Do I select box 7? They have autoselected 6c. Do I then need to put years in? Do I leave 6 blank? Thank you!
[1:23pm PST] @TaxesbyKatie.com
Hey Jeff, The SBA wants you to mark 6C on your 4506-T, that is why it comes auto-selected. Considering the uniqueness of your situation, you should try reaching out to the SBA directly. Here is their contact number. You can contact the SBA's Answer Desk by e-mail answerdesk@sba.gov or by telephone at 800-827-5722.
@@KatieStOresCFPChFCEA I appreciate the reply! Would you advise to leave line 6 blank?
@@jeffzlotnik3078 [2:13pm PST] @TaxesbyKatie.com
Hey Jeff, Do not leave leave it blank. Otherwise you'll get the form back again. You'll have to contact the SBA.
@@KatieStOresCFPChFCEA Ok thank you! I called them and they said it is with a loan officer and can not provide me any additional information. I will put 990 in line 6, even though we do not file it. Would you suggest checking box 7? This just does not make sense for NPOs.
@@jeffzlotnik3078 Hey Jeff, Checking box 7 gets you a document that proves that the IRS has no record of a filed Form 990 for the tax years requested. It does NOT indicate whether you were required to file a return for that year. If it is OK with you, then mark box 7. Sorry I could not help you more. Good luck!
Thank you Katie!
[3:43pm PST] @SaintOres.com
Женя, спасибо!
This was a wonderful video very simple and informational I just couldn't hear u , it's wonderful because the wide screen and the sub titles u used
@@tequilajones5529 Hello Tequila, I'll check into the sound to see if it's working properly. At least the sub titles helped. Thanks for letting me know about the sound.
It is really helpful thanks for sharing
[3:43pm PST] @SaintOres.com
Thanks a bunch Vinh, Glad it was helpful!
If you are an LLC which one do you choose? Corporation or partnership
[10:36 AM PST] @TaxesbyKatie.com
Hey Lavender, If you are a single member LLC, you are requesting 1040. If you made an election to be treated as an S-corp, then it would be a 1120-S. If you are a partnership then it would be a 1065.
Very helpful video! Does the SBA have a mailing address to submit form4506T?
[12:51pm PST] @SaintOres.com
Hey Elaine, Give the SBA a call since they might have different mailing addresses by regions of the country. You can contact the SBA's Answer Desk by e-mail answerdesk@sba.gov or by telephone at 800-827-5722.
Hi please i have ana issue i submitted the form online via sba email but they keep responding me time to time that they dont recieve the form and also i wasn't able to sing it online plz help katie thanks
So they want "copies" of the last three years transcripts?
Yes, that is correct.
@@KatieStOresCFPChFCEA
Ok. This entire process is done online correct? So you will be able to upload these transcripts onto the application? Im inquiring about the grant, not the loan...
@@KatieStOresCFPChFCEA
Thank you much for taking the time :)
I had one more question...
Does it matter how you filed your returns? For an example, i filed my 2017 and 2018 as 1040 scheduled C. But my 2019 was filed as a normal 1040. My business is regristered as a sole proprietorship with a EIN
Hey Confessions, Yes, you should be able to complete the entire process online. However, my understanding is that your business was not in operation in 2019 (you did not file a Sch C in 2019), which makes you eligibility for the loan questionable.
Hey am watching the 4506 T video my question is am drive for uber and I fill out that for couple weeks ago and they say put the right transcript (line 6) my tax form is 1040 so what I have to put ? Thanks
Hey Bruk, you check box 6(c).
Hi Katie. Will you explain to us how to fill out the forms for PPP#2?
We’d truly appreciate it.
I just like the way you explain, it’s so clear. Thank you.
What happens if I never received this form? I got the targeted advance application but not this form
Same
I think it's only for the loan not the grants this is what I'm wondering about I already gave a copy of taxes so I don't think so
SBA is requesting 2019 transcript but IRS is behind in process big my return. Should I wait to sign the 4506-t form?
Hey Brandi, If the IRS hasn't processed your 2019 tax return, I would wait until it's processed.
Thank u ,great video
[1:59PM PST] @TaxesbyKatie.com
Thanks Daniel, Glad you liked it!
Thanks 🙏
You’re welcome 😊
I sent the form 4506T several times, but thy keep saying I filled it incorrectly,
Quick question
If I applied for EIDL on the 20th of November, but the grant/ Advance wasn't available will j still get the full 10k they are proposing now
Thanks miss
Pretty golden hair
Thanks Dennis, Most welcome 😊
I've been waiting since April 1st, 2020 for the EIDL Grant Advance, I have a business in low income census, less than 10 employees and more then 50% revenue loss from 2020 and 2019. I have emailed the SBA several times, no one will help me. I also started to email my state senator. Anything else I can do? Thank you!
Hey Victoria, Sounds like you are doing all the right things. The only thing I can add is the SBA PPP Help line. 1-800-659-2955 Try calling them also. Good luck
talk o an sba tier 2 rep
The signatory box must be checked
Hey I did 6c , but my question is that the only number I can put in ( 1040) is there anything I have to us Sol proprietor ?
Hey Bruk, For sole-proprietor you put only 1040.
Thank you Katie for the video, however I still can’t understand what’s it for.
As a sole proprietor I do plan to apply for EIDL Advanced grant. I thought I would just show them my Schedule C, wouldn’t I? Would I need to request from the IRS those forms you were talking about in your video? Thank you.
Hello Shanna May, according to their website - SBA requires you to complete the IRS Form 4506-T as a part of your disaster loan application submission.
Additional information might be requested upon review and vary on a case by case basis.
@@KatieStOresCFPChFCEA Thank you very much. You are in deed the BEST!
Thanks Shanna, "The BEST"... But I think you need to get out more.
This is for a eidl loan increse not the new grant they have not even released requirements for the new grant yet
But what do they want me to put on line 6 for the eidl? They asked for a completed and signed 4506-t but i dont know what to put on there.
I’m an independent contractor and filed taxes last year, and received a 1099 for this year also. I’m trying to fill this 4506 t but can’t find my EIN number. I only have a TIN number but it’s my social security. How do I go about this? Thank you
[12:43PM PST] @TaxesbyKatie.com
Hey Ruth, you can use your SSN on the application.
@@KatieStOresCFPChFCEA thank you and God bless
@@lovemyson480 You're welcome Ruth
[09:24am PST] @TaxesbyKatie.com
I started my business Jan 15 2020 they are asking for a 4506 t for 2019 this doesn't make sense I started in 2020 please help
I have this same question. I started my business January 17, 2020.
[12:11pm PST] @TaxesbyKatie.com
Hey Angelina, Unfortunately, I can't help you with this question. You have to clear that issue with your lender.
Me too!! I started Jan 1, 2020. There must be another way to meet requirements other than a 2019 tax return we don’t have cause business was non existent at that time! Another way to disqualify people who rightly qualify.
Hello , so I just went on my online portal on SBA & they had me to sign a document stating that they could receive a copy of my tax transcript. How long after I sign it should I get a reply ?
[12:31pm PST] @TaxesbyKatie.com
Hey Leayah, The IRS provides the return transcript generally within approximately 2-3 business days to a third party with the consent of the taxpayer.
Hello Leo, That's a long time. Give the IRS a call and let see what the hold up is. IRS Customer service 800-829-1040.
How long does it generally take once you've sent the 4506?
Hey Presley, If you used the online method or called, it’s about 10 days.
How about when the s a requests it
Any idea how long it takes when you fax the forms?
Hey Confessions, Most requests will be processed within 10 business days.
How do we upload it onto the SBA site?
Hey Samantha, For the best directions, it might be best to contact the SBA Disaster Assistance Customer Service Center - call 1-800-659-2955 or email disastercustomerservice@sba.gov.
Please help I got the eidl before I did 2019 taxes as I did extension. I estimated business income at the time and received loan. I qualified and filled out EIDL advance grant now. They are requesting the required tax return from IRS. If my tax return income is different & lower income amount then what i estimated on accepted sba application, is that going to disqualify me? Or worse yet can they take away the loan they already dispersed or simply deny the targeted eidl grant? appreciate any knowledge and or advice
Hello Ether, You could explain to them that it was best estimate at the time, and that you had not done your taxes yet. Try to work with them.
@@KatieStOresCFPChFCEA Thank you for the reply. I'm worried the loan officer would see a difference (although my best guess at the time) would flag it. Was told they can freeze already dispersed loans if they think you knowlingly gave false earning for bigger loan amount. Obviously this isn't my case but its up to loan officer I'm told. Is there a general rule of how much of a difference is not a red flag? Have you any experience on others with same questions/results? Thank you kindly
I could not find any situations like yours. It may be a little early and you are among the first.
So is this form just to request tax documents? What if you HAVE your tax documents. I thought this was to request money. AND I only have two years tax returns because previous year was after a divorce so the State where I live took most of my bank to make my ex. husbands late payments. Anyways I just filed my 2020 & 2019 and have copies.
Hello Janette, EIDL Filing Requirements: Among other things, You'll need the most recent 3 Years of Business Tax Return(s)
hello my brother applied for edil loan and i did the business taxes in my name will that be a issue when them asking for 4506 t form
[1:54 PM PST]
Hey Mild, There's a High probability that you will have some issues in that senario.
@@KatieStOresCFPChFCEA if you can help ill pay or give you money from what wwe can get from my LLC
Hey Mild, Sorry, but that's not a service I offer. But if you go to a company like Womply, Cross River, Blue Acorn, etc, they should be able to guide you through the online process for both PPP and EIDL. That's their job. Then you won't have to pay anyone. The deadline for PPP is the end of the month.
Failed to release to SBA. Reject.
At the top should I put my name or my business name? In my schedule c it has my name as proprietor and on c underneath it had my business name. If I use my name do I put in my social or tax id? Thank you for your help
Hey Sammy, Since you are the sole proprietor, in the line up top, put your First and Last name. In the DBA section, put your business name. These should match your tax return. You can use either SSN or EIN. If this is your second round PPP application, just match it to the first one. @TaxesbyKatie.com
@@KatieStOresCFPChFCEA this is for a loan increase for the eidl loan.
Hey Sammy, Since this is for the SBA loan increase, just match the information exactly as it appears in your original application. @TaxesbyKatie.com
@@KatieStOresCFPChFCEA thank you
@@scatsam7566 You're welcome
Thank you for the information you are beautiful
For a single member LLC, do I enter my name or business name in line one?
[10:11am PST] @TaxesbyKatie.com
Hello Ahmed, Since you are a single-member LLC, a disregarded entity, you file your business return with your personal 1040 as Schedule C. Hence, when you fill out your 4506-T, you include your first and last name as it appears on your 1040.
Thank you very much.
@@elhanchia [11:11am PST] @TaxesbyKatie.com
You're welcome..
Hello. If I am doin a 4506-T to verify my I.D. can you plz tell me which box I check for my transcript. Is it box. (A) Return Transcript.
(B) Account Transcript
(C) Record of Account
I'm not exactly sure which one.Also is it possible to check off more than one box?Please let me know ASAP. Thank you so much
Also I'm not sure if I did a 1040 or a 1040-EZ . Do I need to be specific on which one I am requesting or is it OK to just put 1040?
[1:56 PM PST] @TaxesbyKatie.com
Hello 2-10, Form 1040 EZ doesn't exist anymore. If you are requesting a copy/transcripts of your personal return then you will put 1040 as a requested form. Mark box 6 (C) which provides the most detailed information.
@@KatieStOresCFPChFCEA okay. Also can you please tell me if the if the 4506T can get me a transcript and record acount for 2012 taxes. Because the issue is ...in order for me to verify my I.D to the irs they say I need a PREVIOUS tax return along with my current to verify. They sent a 6331C letter, they said they sent it because they haven't heard from me in a long time. The last time I filed was for 2012. I was told they destroy 1040s after 7yrs. (Don't know if true or not).So I'm trying find the right form to get any type of info on my 2012(my last filed) tax return. That's part of requirements to verify I.D.to them. Which is really stupid. Why do they want me to get something that they already have possession of in the first place.They just trying to make me jump through hoops it seems.
@@KatieStOresCFPChFCEA The other thing I'm confused about is at the top where it says current address i was told that's where it will be sent. But on the part that says since 2019 the transcript will be sent to the address on RECORD. Well,the address on my 2012 return is not my current, it's the one on record. So if true how do I get it sent to my current address .Can u plz explain for me. It's been extremely exhausting 😪 trying to figure this stuff out so I can get my $. Thank you so much
@@twotenslim3767 [10:05 AM PST] @TaxesbyKatie.com
Hey Two, On Line 3, you include your current address and on Line 4, you have to include the address on the last filed tax return if it is different from your current address.
Why they don’t use 2020 returns and they only use 2019?
[1:23pm PST] @TaxesbyKatie.com
Hello Samklas, You should be able to use 2019 or 2020. I think a lot of people used 2019 because they didn't have their 2020 finished.
@@KatieStOresCFPChFCEA the SBA didn’t accept 2020 tax return have they accepted it would’ve made about 250k difference so instead we got 250k we could’ve gotten 500k based on their formula
For example if business made 252k they divided by 12 then X by 24 and that could’ve put us right around 500k but they used 2019 return where business only made 143k .
Do you need to add your name on 3 and 4 together with your adres or no?
Hey Soldiers, Only if your name and address have changed and it’s not going to match the name and address shown on your tax return.
@@KatieStOresCFPChFCEA thanks
I’m is 1099
No sound
Hey Tay Tay, thanks I'll check it out....
Need lovely 😍💋 💝💖❤️
Hello, the SBA agent told me I can request the tax returns transcripts in IRS.gov online, BUT when I try to do it it asks for personal information but I don't need personal taxes, the need for my LLC for the EIDL application. id there a way to get them online for an LLC??
[10:03am PST] @SaintOres.com
Hello Patricia, You will see on the IRS website where it says: "Caution: The Get Transcript Service is for individual taxpayers to retrieve their own transcripts for their own purposes. Use by any other entities is prohibited." That is why it is asking you for your personal information.