What Are IRS Tax Transcripts?

IRS tax transcripts are summaries of information from a taxpayer’s tax return. The information provided varies depending on the type of tax transcript requested. Importantly, a tax transcript is not a copy of your tax return; it only contains selected data. However, you can use your transcript to determine how much taxes you owe, what you paid in taxes and whether you filed in a particular year. While you don’t need a tax attorney to obtain a transcript, if you have a tax problem, you should consult a lawyer for assistance.

Why Would I Need an IRS Tax Transcript?

Typically, taxpayers request transcripts because they misplaced their return and they need that information for some reason and/or they must provide an official tax record to a third party. Tax transcripts are often required when applying for loans, college financial aid or government benefits. An IRS lawyer you hire to assist with a tax matter may also want to obtain your transcript to verify the information that the IRS has from your return and third parties.

How Can I Obtain an IRS Tax Transcript?

You can register and get a transcript through the IRS’ Get Transcript Online service. The site provides immediate online access allowing you to view, print and download a transcript. You can also elect to receive a tax return transcript or tax account transcript via mail or by calling 800-908-9946.

What Are the Different Types of Tax Transcripts?

There are several types of tax transcripts, including:

• Tax Return Transcript – provides most line items from your original Form 1040-series tax return as filed, along with any forms and schedules. It doesn’t show any changes you may have made after you filed your original return. Notably, you can only obtain this transcript for the current and three prior tax years.
• Tax Account Transcript – only indicates data such as return type, marital status, Adjusted Gross Income (AGI), taxable income and payment types. Unlike a tax return transcript, this one will show changes made after you filed your original return. Tax account transcripts are available online for the current and nine prior tax years.
• Record of Account Transcript – combines the tax return and tax account transcripts into one transcript. It is available for the current and three prior tax years.
• Wage and Income Transcript – shows data from information returns the IRS receives, such as from Forms W-2, 1099, 1098 and 5498. You can obtain information for the current and nine prior tax years. However, data for the current tax year may not be available until July.
• Verification of Non-filing Letter – states that the IRS has no record of a filed Form 1040-series tax return for the year you requested.

Note that availability of transcripts may vary depending on the type of transcript and whether you use the online system, mail, phone or Form 4506-T. You should check the IRS website for more information.

How Can I Get a Copy of My Tax Return?

To obtain a copy of your original return, fill out and submit Form 4506, Request for Copy of Tax Return to the address designated on the form. Note that it can take up to 75 calendar days to receive the return.

Do I Need a Tax Attorney?

If you failed to file a tax return, misreported information on your return or have been notified of an audit or collection action, you should consult a tax lawyer. Our attorneys have been helping taxpayers resolve their New York State and IRS tax problems for over 25 years. Contact us for assistance with your tax matter.