A transcript is a record of all past tax returns from the IRS. This important document can help with many financial issues, and it is a requirement for loan applications, mortgage applications, and much more. It’s basically your tax history in a nutshell, and it’s a surefire way to determine whether or not a person has clean financial records.
It is true that technology has made life more convenient. The same is true for the IRS. Although it has become more stringent because it’s capable of discovering tax discrepancies more easily now, it’s also made life easier for most taxpayers. A transcript, which was previously applied for manually, can be obtained online with minimal effort. Identity verification is the only requirement to receiving your tax history.
But that’s not all. The IRS “Get Transcript” feature isn’t only limited to tax returns. You may also obtain the following documents:
- Tax returns
- Tax accounts
- Record of accounts
- Wage and income transcripts
- Verification of Nonfiling letters
You may obtain transcripts via postal mail as well, but they are limited to tax returns and tax accounts and will take about 5 to 10 calendar days to arrive. They’re also available in Spanish as well.
There are two ways to obtain transcripts online. You either create an account and sign in for easy access, or sign in as a guest every time you need information. We recommend creating an account because it’s easier to have all of your information in one place, instead of entering it over and over again every time you want a transcript. After verifying your email ID you will be required to authenticate your account by providing the following information:
- Date of birth
- Social Security Number
- Filing status
The above mentioned information must match what was filed on your last tax return. In addition, you must also answer some questions about your identity, such as verify mortgage information, address history, and more.
After you’ve verified your identity, obtaining your transcripts is a breeze. They can be viewed or downloaded and can possibly be used to help with your tax relief as well. The more information you can provide to your tax consultants, the better strategies they can formulate.
The IRS “Get Transcript” feature can be useful in a variety of situations. We recommend registering for it as soon as possible if there’s a chance you will need it. The IRS also has provisions for the differently abled, with accessibility options as well as multi-platform and browser support. Contact us to get IRS tax transciprt.