Avoid the Rush: Request Your IRS Transcripts Online Today
It’s a Good Idea to Obtain a Copy of Your IRS Tax Return Transcripts – You Never Know When You Will Need Them
Most taxpayers maintain copies of their IRS income tax returns. Most taxpayers do not request copies of their tax return transcripts. Transcripts can prove valuable when you are refinancing a home or requesting a loan. A third party (e.g., a lender) may prefer seeing your transcripts because anyone can print a tax return today online. How does one know if the copy of the tax return provided is true and correct? A tax return accompanied by an IRS transcript may give the lender more credence that the return you are sending them was actually filed with the IRS.
How to Request A Transcript from the IRS:
The IRS makes obtaining your tax transcripts relatively easy. Visit the IRS website at Get Transcript Online. Due to concerns about ID theft, taxpayers must pass the Secure Access identity verification process. Select the “Tax Return Transcript” and use only the “Adjusted Gross Income” line entry. If you maintained a copy of your prior years’s tax return, you will need it as the IRS asks for you to enter your Adjusted Gross Income (AGI) as part of its security verification process.
While on the IRS website, you will notice that the IRS allows you to receive your transcript by mail. You can also call the IRS at 800-908-9946 to obtain a transcript. Again, the IRS will request your prior year’s AGI so be sure to have that tax return in front of you when you call.
The IRS has redesigned tax transcripts to partially mask all personally identifiable information for any person or entity on the 1040-series return. All financial entries remain fully visible. Taxpayers who need a tax transcript for income validation purposes can still use Get Transcript Online or by Mail. Review About the New Tax Transcript and the Customer File Number for more details. If you call the IRS and request a copy of your tax transcripts, you can request that an unredacted transcipt be sent you.
If you would like to discuss your business or personal tax planning, tax preparation and other financial concerns with an experienced tax professional, we invite you to call 610-594-2601 today to make an appointment at our Exton PA CPA office to discuss your situation. You can also schedule a consultation at Click Here.
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About F. Bryan Haarlander, EA, CTRS:
Bryan Haarlander is an IRS licensed Enrolled Agent and who owns and operates a specialized tax services firm serving clients in the western suburbs of Philadelphia, PA, which includes the cities of Chester Springs, Coatesville, Collegeville, Devon, Downingtown, Exton, Frazer, King of Prussia, Paoli, Philadelphia, Phoenixville, Pottstown, Radnor, Reading, Wayne, West Chester in Berks, Chester, Delaware, Montgomery and Philadelphia Counties, as well as clients in Delaware, New Jersey, New York and throughout the continental USA.
A Certified Tax Resolution Specialist, Bryan is well-known for his IRS tax resolution expertise and his book How to Resolve Your IRS Tax Debt Problems.