How long does it take for a recently filed return to show up on an IRS Transcript

Please note that the last return I prepared was 30+ years ago and I only did it as part of my con job to delude Susan into believing she needed to keep me around. But unless I missed something, the Foreign Earned Income Exclusion is only allowed on a return that "timely filed".

My brother Michael has a funny story about a client who files five years at a time and is worried about the statute of limitations. ;)

Dick

That's not the case. I've filed returns for clients and claimed the foreign income exclusion for returns that were not "timely filed".

Could someone else please answer my question? I want to know how quickly the filed return will show up on an IRS transcript. That is my client's primary concern. Thanks.

Agree. That changed a few years ago when it became OK to amend to add FEIE.

Probably not anytime soon. Months or more. I suggest preparing the return, get a few copies time-stamped by local IRS office with IRS timestamp clearly showing, and then prepare an affidavit stating this is a true copy of the return filed by client. Convince the bank to accept since it obviously was filed too late for a current transcript.

There is no set time BUT in my experience it you can't expect it to be less than a year.

I do (way too much) representation work. As a matter of policy I always pull transcripts and compare them to client documents. I pulled transcripts in November of 2010 that did NOT have wage and income items for which the client DID HAVE supporting documents. That means after 10 months, more or less, the IRS W&I transcripts were deficient.

If you're asking about account transcripts, they should happen relatively quickly - within a matter of a couple of months or so I would think. Though I do not know for sure as I've never considered this issue before.

May we ask WHY you're concerned about how soon this will show up on an IRS transcript?

Thanks, Gene E. Utterback, EA, RFC, ABA

The client wants to have the returns they filed with income amounts show up on their IRS transcript because they are applying for a mortgage and the bank wants to see two years' worth of income on the transcript. I have filed 2007, 2008 and 2009 so far; 2004, 2005 and

Thanks for the information.

Interesting!

I've never had a lender ask to see IRS account transcripts before. May I ask where and who the lender is? I'm curious to see if this is specific to a particular lender or an area of the country.

Gene E. Utterback, EA, RFC, ABA

I've never had a lender ask to see IRS account transcripts either, but maybe, in these troubled times, that's what lenders are doing now.

I don't know who the lender is though. But the client lives and wants to buy a home in New Jersey.

Chris A Johnson, Esq., EA

I've had 2 of 2 lenders ask for this. One was a big bank, and one was a small bank in CA.