Do You Know How To Request A Tax Return Transcript From The Previous Year?
November 05, 2018 in Tax Tips & Tricks
A tax return is an important document that you file with the IRS every year. You should keep a copy of this form, just in case you will need it for any financial-related matter in the future. Apart from helping you prepare better fro your future tax returns, you can use it as a supporting document when applying for a credit line. You can also use it to amend a tax return from the previous year. You can use it when applying for financial aid as well. In case you cannot find a copy of this document, you can send a request to the IRS to provide you a tax return transcript for the information that you need, or a copy of the entire tax return. Learn how this process goes.
You Can Get Tax Return Transcripts for a Specific Period Only
The IRS can provide you a transcript of your tax return for the current year and three years before that. The transcript basically includes information like your TIN, income and other pertinent information from the tax return you have filed with them. Take note that transcripts are given for free.
It is Basically a Summary of the Tax Return
The transcript is not a copy of the tax return that you have previously filed. It is a summary of the entire form. You do not have to worry about the information that you have indicated in any accompanying forms attached to your tax return. The most important ones will be included in the transcript that is being requested. Every piece of information that you have in your original tax return will form as the basis for the transcript.
Learn What the Transcript Includes
The transcript includes the type of return you have filed, taxable income, and adjusted gross income. It also includes your marital status as well as any changes made by you or the IRS after you have filed the tax return.
How Do You Get One?
There are two ways to get a copy of the transcript from the IRS:
- Through the ‘Get Transcript’ application. You can get this from the IRS website. Make sure you fill up the information needed for getting the transcript. Your identity will then be verified from there. Once you have provided the information that is needed to access the transcript, you can view and print it immediately.
- Get help from tax professionals. A tax professional can provide IRS back tax help for taxpayers who need to check if they owe back taxes to the IRS. Similarly, you can also ask these experts to help you with transcript analysis.
Ask a Tax Resolution Specialist for Help Today
Tax Defense Partners can help verify not just tax return transcripts but other tax-related documents for you. Examples include the verification of non-filing letters for applying low-income housing; wage and income transcripts needed to verify employment, or for merely keeping a personal record of income; account transcripts which contain filings, credits, withholding extensions, and other follow-up transactions on a tax account; and a record of account transcripts – a combination of account and tax return transcripts.