Ventures integrates with Tax Guard to allow you to conveniently order tax transcripts. To enable this feature, please contact Ventures.

 

This article is also available as a video:

 

 

Once our Tax Guard integration is setup, you will be able to use it to order tax transcripts for a loan directly within Ventures. 

 

In the loan:

• Click on Verification in the Overview Menu on the left.
• Click on Tax Transcripts in the submenu that appears.

 

The Tax Transcripts page will load. You will see two tabs labeled Verification and Order Transcripts. The Verification Tab is not mandatory, you can use it to keep track of transcripts that have been verified, it can function as an audit log. Click here for an article that covers adding records to the Verification Tab. 

 

• Click the Order Transcripts Tab. You may see a loading bar when you click on the tab. This is the tab checking if there are any updates to already placed orders.

 

The next step is to generate form 8821 for the Entity or Individual who you are ordering the transcript for. You can also do this from the Verification Tab, or the Document store in Ventures. You should see two buttons on the Order Transcripts tab one labeled "Generate Form 8821:Individual" and "Generate Form 8821: Entity."

 

 

Note: If you see buttons labeled "Generate Form 4506:Individual" and "Generate Form 4506: Entity" it means your system has not been setup to use Tax Guard as your transcript provider yet. If you intend to use Tax Guard, please contact support.

 

 

 

Click the Generate button that matches who you are ordering the transcript for.

• If it is an individual click the "Generate Form 8821:Individual" button. A pop up will appear:
  • In the pop up select the Contact you would like to generate the form for. If the Contact does not appear here, it means they have not been set up in the entities section of the loan properly.
  • Enter the tax years you are requesting.
  • Select whether you want the form to generate and download to your local machine, or to generate and attach itself to an email. You can then send this directly to the contact for them to sign.
  • Click Next.

 

 

• If it is a Company (Entity) click the "Generate Form 8821: Entity" button. A pop up will appear:
  • In the pop up select the Entity in the Entity drop down menu. If the Entity does not appear here, it means they have not been set up in the entities section of the loan properly.
  • Select the Contact for the Entity in the Contact drop down menu. Similarly if the Contact does not appear here, it means they have not been set up in the entities section of the loan properly.
  • Enter the tax years you are requesting.
  • Select whether you want the form to generate and download to your local machine, or to generate and attach itself to an email. You can then send this directly to the contact for them to sign.
  • Click Next.

 

 

Whether you choose to generate and download the form or email it directly to the relevant parties, you will need the Individual (for individual forms) or Representative(s) of the Entity (for an Entity form) to sign the form. Once you have a signed form:

 

• In the Order Transcripts Tab, click Order Transcripts. The Order Transcripts page will load.

 

 

• The Tax Transcript Provider will be set to Tax Guard. An Order Reference Number will populate, you cannot edit these fields.
• Select the order type.
  • If you select an Individual type, a field will appear in which you must enter the individual you are requesting the transcript for. This must match your selection in your 8821.
     

    

  • If you select a Company type, two fields will appear in which you must fill the Company and Contact for the company you have selected. These must match your selections in your 8821.

 

 

• Next select the Time Frame. You can choose from "Same Day," "Next Day," and "Basic".
  • Same Day orders must be placed before 3 pm Eastern Time. 
  • Any order after 7pm Eastern or anytime on a weekend or holiday will be treated as an order for the following business day.
• Attach the signed 8821 using the "Select or Drop File" button. You can click the button and select the signed form from your local machine. You can also drag and drop the file into the marked area and the file will upload. When the upload is complete, review the information you have entered.
• After reviewing for accuracy, click the Place Order button.

 

 

• You will see a processing screen while your order is sent to Tax Guard. Do not close the tab or web browser while this process is ongoing.
• When the process completes, you will return to the Order Transcripts tab. You should see the order you placed in the order transcripts tab.
• The status of the order will say "In Process."

 

 

• Once the order is fulfilled, the status will change to say "Completed." When the status of an order changes to Completed, you will receive an email notification alerting you to the update in the status.

 

 

• To review the transcript, on the Order Transcripts tab, the word Completed in the status column will be a hyperlink. Click on it. A zip file will download containing the transcripts. Unzip or open the file to review the transcript provided.