Resources
Obtain Your IRS Tax Records (Transcripts)
What are IRS Transcripts?
An IRS transcript is NOT a photocopy of your tax return. Depending on the type of the transcript, an IRS transcript shows data from your filed tax return or income information that the IRS received from different sources such as your employer or your financial institution. It also shows changes or adjustments made after you filed your original tax return.
Different types of IRS Transcripts:
IRS transcripts are most often used to validate past income, tax filing status for mortgage, student and small business loan applications, to help with tax preparation, and to resolve tax problems. A tax transcript won’t help you determine when you will get your refund.
Tax Return Transcripts and Record of Account Transcripts are only available for the current and the prior three tax years.
Tax Return Transcript
A Tax Return Transcript shows most items listed on your tax return as it was originally filed along with any forms and schedules. However, it does not reflect any adjustments or changes made after you filed your tax return.
Tax Account Transcript
A Tax Account Transcript shows any adjustments and changes that have been made either by you or the IRS after you filed your tax return. It also shows the type of tax return, marital status, adjusted gross income (AGI), taxable income, and your payment history.
Wage and Income transcript
A Wage and Income Transcript shows data from income forms such as W-2s and 1099s in addition to IRA Contribution and distribution information that was reported to the IRS. This transcript is often used to ensure that no information would be missed on a tax return especially to prepare a prior year's tax return.
Record of Account Transcript
A Record of Account Transcript combines the information from tax account transcript and tax return transcripts.
How to obtain your IRS transcripts?
You can use the IRS “Get Transcript” Service and order your individual tax transcripts online or request them by mail. However, if you are confused about the years and the type of transcripts you need, you need business tax transcripts such as 940 and 941 transcripts, or you are not able to use the IRS website, you are not alone. We can help you obtain a complete record of your tax account by filing an IRS Form 8821 (Tax Authorization Information) with the IRS. We can also advise you of the necessary actions you must take and how to use these transcripts to resolve your tax problems, if any. Call us today!
