There are many reasons why you may need access to your tax transcript. These can be used to provide lenders with proof of income for mortgages and student loans, or to see the information from a previous filing.
If you want to access your tax transcript, it doesn’t have to be a long or difficult process.
The easiest way to get your tax transcript is online, via the IRS portal. Once you’ve set up an account, you have quick access to a variety of your transcripts.
Alternatively, you can request a transcript through the mail, or over the phone.
In this guide, we’ll cover the best ways to get your IRS transcripts. We’ll also cover the transcripts currently available, the information they provide, and how far back a request can go.
How To Get An IRS Transcript
The fastest way to get access to your tax transcript is online. If you have an IRS account already set up, you can simply log in via their website, and view your tax transcript.
From here, you are also able to download and print your tax transcript.
If you don’t have an IRS account set up, you can still view your tax transcript online, but it will take a little longer.
To view, you’ll need to start an account. This will require a valid email and phone number, photo ID, date of birth, mailing address, filing status, and financial information.
Once this is done, you can access your transcript whenever you wish.
Online is the quickest way to gain access to your tax transcript, but there are other methods available.
You can request for your tax transcript to be sent through the mail. To do so. You must fill out a Request for Transcript of Tax Return form, which can be accessed online.
The form must be filled out completely, using information exactly as it appears on your most recent tax return.
Once the IRS has received your request, it should be processed within 10 days. The tax transcript will then be mailed to you.
Finally, you can request a tax transcript via phone call. Contact the IRS directly, and they will send your tax transcript in the mail. Typically, it takes 5 to 10 days for a request to be processed.
What Types Of IRS Transcript Are Available?
Before you make a request, you should familiarize yourself with the transcripts offered by the IRS. This way, you can ensure you request the right information for your needs.
Tax Return Transcript
The tax return transcript displays the majority of the information from your original Form 1040-series tax return.
The information contained is from the initial filing, plus additional forms and schedules. Any changes made after filing will not be shown.
A tax return transcript is available for the current tax year, and the three preceding years. These forms are often requested to be used by lending institutions when acquiring a mortgage or student loan.
Tax Account Transcript
A tax account transcript shows reduced amounts of information including your filing status, your taxable income, and the payment types used.
A tax account transcript will also show any changes post the initial filing. Online, you can access your tax account transcript for the current tax year, plus the preceding nine years.
If you request a tax account transcript via mail or over the phone, you can only access the current year and the previous three.
Record Of Account Transcript
The record of account transcript is a compilation of the tax return transcript and the tax account transcript. It is available for the current tax year and the three tax years prior.
Wage And Income Transcript
The wage and income transcript shows data from information returns received by the IRS. This includes the forms W-2, 1098, 1099, and 5498.
If accessing online or through the mail with Form 4506-T, you can request a wage and income transcript for the current tax year, and the previous nine.
However, current tax year information may not be completely available until mid-year. If it’s not yet available, the message “No Record of return filed” will be displayed.
Check back periodically, until the information has been added to the transcript.
Verification Of Non-Filing Letter
The verification of non-filing letter will state that the IRS has no record of processing a Form 1040-series tax return from you, for the year until your request was received.
The letter won’t show whether you were required to file. This can be requested for the current tax year, or for the three previous tax years.
The current tax year will only be viewable post-June 15th. For older letters, use Form 4506-T, which is available on the IRS website.
Can I Get A Copy Of My Original Tax Return?
A tax transcript isn’t a photocopy of the original return. Instead, a transcript displays a certain amount of information, processed and transcribed.
If you want to access a photocopy of your tax return, you will need to submit Form 4506, which can be found on the IRS website.
This will need to be mailed to the IRS, and there is an associated fee. Expect a processing time of up to 75 days.
How Else Can I Get My Tax Record?
If you used tax software to complete your tax return, you may be able to access your transcript via the provider. This will depend on the software, and whether it keeps the records on file.
Alternatively, if you used a tax preparer or tax advisor, they may have your tax return still on file.
The easiest way to access your tax transcript is online. Although setting up an IRS online account can be a longer process, once done, it’s quick and easy to access your transcript when you need it.
Alternatively, you can request a transcript through the mail, or on the phone. If you require a transcript from over three years ago, you may need to send a mail request.
Before you apply, make sure to check the type of transcript you’re requesting contains all the information you need.