An IRS transcript is a register of tax activity that the IRS has recorded. It is also a line of defense against identity theft. You can use its information to
• Resolve tax issues without having to call the IRS
• Verify income to a third party when you don’t have a copy of your original return
• Get documents to help you respond to an IRS notice or examination can be very manageable if you know what to look for. You’ll first need to choose the right kind of transcript, review it for accuracy, and analyze the codes provided. You may have additional action items based on the information provided, but most likely, you’ll need to just sit tight and wait for the IRS to follow up. Even though you may still be in a holding pattern after reviewing your transcript, you’ll at least know what has been processed by the IRS.
Key Takeaways
The IRS offers five types of transcripts with varying uses.
Information Provided Typical Use Availability Time Frame 1. Tax Return Most line items and schedules from the originally filed tax returnLoans, grants, scholarships, return amendments, IRS notice response, mortgage financing, general taxpayer records
4 years (including current tax year) 2. Tax AccountBasic taxpayer data (marital status, AGI, taxable income, and payments); also includes changes from after the return was filed
Extension confirmation, payment history, account and refund history (e.g., records of penalty and interest assessed), notice response
4 years (including current tax year) 3. Record of Account Tax return and tax account transcripts combined Any of the purposes for which a tax return or tax account transcript would be used Any year for which there was recent IRS action, as well as the current year and previous 5 years 4. Wage and Income List of taxpayer income reported to the IRS on forms W-2, 1099, 5498, etc. Notice response, income records, employment verification Current year and previous 9 years; generally available mid-May for the prior year 5. Verification of Non-filing LetterThis letter indicates that there is no record of a tax filing for a specific year, not that you had no requirement to file.
Confirmation that there is no record of a tax return filed with the IRS for that year Student financial aid applications 4 years (including current tax year)While the best place to check the status of a tax refund is the IRS’s Where’s My Refund tool, a transcript is also a good place to get details on what could be holding up your refund. Also, as part of your personal identity protection plan, you should review your IRS transcript for unknown or incorrect activity.
How To Obtain an IRS TranscriptThere are three ways you can obtain an IRS transcript:
You may obtain a transcript from the IRS website by using the IRS’s Get Transcript tool. To use the online tool, you must create an account and have your identity verified by a third-party vendor. To verify your identity, you will need to either present a government-issued ID with a photo and take a selfie or schedule a live call with an agent from the third-party vendor (currently ID.ME).
You must be at least 18 years old to access the verification system. If you are unable to verify your identity through the third-party vendor, you may use one of the alternative methods below to request a transcript, which may involve a longer wait time than the online tool.
Visit the IRS’s Get Transcript FAQs page for answers regarding access to individual account transcripts.
Call the IRS’s automated line at 1-800-908-9946. The transcript should arrive at the address on file anywhere from 5–10 calendar days if ordered to be received by postal mail.
You will need to have the mailing address from your most recently filed tax return. Then, you’ll need to complete IRS Form 4506-T. For copies of a tax return, you’ll need IRS Form 4506 or IRS Form 4506-T-EZ.
Transcript delivery: The IRS ended the practice of faxing transcripts on June 28, 2019—this change applies to everyone, including third-party recipients and taxpayers. As of July 1, 2019, the IRS stopped sending transcripts to third parties listed on forms 4506, 4506-T, or 4506 EZ. Since then, mortgage lenders, educational institutions, and other third parties have been encouraged to use the IRS’s Income Verification Express Service to obtain taxpayer transcript information.
You’ll want to review your transcript to ensure that the information presented makes sense. Identifying information such as your Social Security number (SSN) and address may be partially redacted, but the visible information should be confirmed.
You’ll also want to do a sanity check for the information provided. For example, if you didn’t file a return for 2022 but have a tax return transcript showing tax filing information for that year, you should contact the IRS so that its records can be updated.
The following items should be reviewed for accuracy and reasonableness:
To protect taxpayer data, the IRS partially masks SSNs and EINs on transcripts, leaving only the last four digits visible. Taxpayer names and addresses are also partially obscured. Financial data is not redacted.
Customer file numbers were instituted by the IRS so that third parties could have an identifying number for the taxpayer without having to use sensitive data. They are unnecessary to obtain a transcript, are assigned by a third party, and are input when the taxpayer requests an online transcript.
That customer file number prints on the transcript for ease of user reference. The taxpayer can then download the transcript and provide it directly to the third-party requester.
Your tax transcript will likely have a series of codes indicating the type of activity that transpired. Here is a list of commonly used transcript codes: