AOS Tax Question: Self Employed No Paystubs

[TizEye 0]

What to do if you are a self employed contractor with monthly direct deposits into your bank but no Paystubs?

What if your Tax returns from prior years go like this.

2019 so far: 60k
2018: 40k
2017: 35k
2016: 56k

We plan on submitting the 2018 MISC99 and Schedule C + Transcripts but what about Paystubs?

[Sarah&Facundo 602]

I'm self employed. I showed my tax returns and didn't have an issue. I also prepared screenshots of money (from clients) being sent into my bank account to show it all matched up in case it was needed but no one asked me for it. Your amounts are fine for two people.

Edited October 18, 2019 by Sarah&Facundo

[TizEye 0]

2 minutes ago, Sarah&Facundo said:

I'm self employed. I showed my tax returns and didn't have an issue. I also prepared screenshots of money (from clients) being sent into my bank account to show it all matched up in case it was needed but no one asked me for it. Your amounts are fine.

And I only have to send the Tax Transcripts for 2018. Without the Misc1099 because it's a transcript that includes schedule C and all?

No need for anything from 2017 and 2016?

[Sarah&Facundo 602]

Just now, TizEye said:

And I only have to send the Tax Transcripts for 2018. Without the Misc1099 because it's a transcript that includes schedule C and all?

No need for anything from 2017 and 2016?

If I remember correctly, I sent copies of the last three years. No one looked at any of it during the interview though. I'm sure the officer glanced at it beforehand.

[TizEye 0]

I see the word "copy" used but what is a copy?
Just a printout from TurboTax?

[Sarah&Facundo 602]

Yes, I just photocopied what my accountant gave me, which I believe would also be the print out from a service like turbotax. 

Edited October 18, 2019 by Sarah&Facundo

[JFH 12,191]

*~*~*procedural question moved from “progress reports” to “process and procedures”*~*~*

[payxibka 10,047]

3 hours ago, TizEye said:

I see the word "copy" used but what is a copy?
Just a printout from TurboTax?

 

3 hours ago, TizEye said:

I see the word "copy" used but what is a copy?
Just a printout from TurboTax?

Provide transcripts for 3 years,  copies of tax returns are no longer acceptable 

[TizEye 0]

On 10/18/2019 at 7:52 AM, payxibka said:

 

Provide transcripts for 3 years,  copies of tax returns are no longer acceptable 

They say copy on their site.

[Villanelle 4,122]

Tax transcripts come from the IRS. They have a website you may be able to use to order the transcripts otherwise you would have to go in person to an IRS walk in center to get them. (might have a phone number you can order from as well)..

 

If you used Turbo Tax it will let you download/print a copy of the tax forms you filed. You would need to include copies of all the stuff you used to do the taxes. This is different for everyone, but would be any W2s, 1099s, schedules, etc. 

 

Is easier to submit transcripts but you can send copies of tax returns as long as you include it all. 

[Sarah&Facundo 602]

As mentioned above, I am self employed so I am in the exact same situation as the OP. I don't even know what a tax transcript is so of course, I never submitted that. I had no issue with the photocopies of my tax return earlier this year when we interviewed for AOS. I believe I did include  whatever 1099s I still had in the package. I also screenshot and submitted a few payments from clients to show it matched up just in case. No one asked me for any of this at the interview a few months ago.

Edited October 20, 2019 by Sarah&Facundo

[TizEye 0]

OK so I am under the impression one year transcript with 2 years "copy" form TurboTax with Misc1099's is acceptable in place of transcripts.
Along with screenshots from this years revenues.

[Immi896 4]

I guess this explains everything for self employed people

 

On 10/18/2019 at 6:42 AM, Sarah&Facundo said:

I'm self employed. I showed my tax returns and didn't have an issue. I also prepared screenshots of money (from clients) being sent into my bank account to show it all matched up in case it was needed but no one asked me for it. Your amounts are fine for two people.