Did you know that you can request a transcript of your tax return for the current year and the three prior years from the IRS? The transcript is free and provides almost all of the information that is found on your tax return. This can be useful if you need to look at prior year’s returns and you did not keep one on file. Common reasons of needing prior year returns are:
- Providing income information when applying for a mortgage or a business loan.
- Providing income information for student loans.
- Addressing an IRS notice.
- Amending the original tax return.
- Tax planning for future years.
It should be noted that this year the IRS increased its authorization procedures to access a transcript in order to enhance security.
You can get the transcript online immediately, or wait and request one by phone, mail, or fax. Requesting a transcript by phone, mail, or fax can take up to five to ten days after IRS receives your request.
To request a transcript online or through the mail, go to the IRS Get Transcript page. If you choose to do it online, you will need to create a profile. You will need your social security number, date of birth, filing status, and mailing address of your latest tax return. You will also need access to email, a credit card number (to verify your identity, not for a payment) or loan information, and a mobile phone with your name on the account.
If you need a copy of a prior year return which we helped prepare, we can provide you with a copy from our records. If you have any questions with getting a transcript, please Contact Us.