What Is a Tax Transcript and How to Request One

A tax transcript is an official summary of information from your tax return or IRS account. Tax transcripts are free, easy to obtain, and often required for income verification, loan applications, financial aid, or resolving IRS issues. Here’s what you need to know:

Types of IRS Tax Transcripts

1. Tax Return Transcript

Shows most line items from your original tax return (Form 1040 series and related schedules) as filed, but not changes made after filing. Commonly used for income verification for mortgages, student loans, or financial aid.

2. Tax Account Transcript

Displays basic data such as return type, marital status, adjusted gross income (AGI), taxable income, credits, payments, and any adjustments made after filing. Useful for checking payment history, confirming estimated tax payments, and resolving IRS notices.

3. Wage and Income Transcript

Lists data from information returns reported to the IRS, such as Forms W-2, 1099, 1098, and 5498. Helpful for gathering income information for tax preparation or confirming income reported by employers and financial institutions.

4. Record of Account Transcript

Combines the information from both the tax return transcript and the tax account transcript. Used for a comprehensive review of both the original return and subsequent account activity, often when filing an amended return or resolving complex IRS issues.

5. Verification of Nonfiling Letter

Proof from the IRS that a tax return was not filed for a specific year. Required by some lenders, colleges, or government agencies to confirm nonfiling status.

How to Request a Tax Transcript

Online:

Use the IRS Online Account or “Get Transcript” tool. You’ll need to verify your identity using ID.me (government-issued ID, selfie, or live video call). This is the fastest method and allows you to download transcripts instantly. Only available for individuals, not businesses.

By Phone:

Call the IRS automated line at 800-908-9946. You’ll need your Social Security number and the address on file. The transcript will be mailed to your address of record.

By Mail:

Complete and mail (or fax) Form 4506-T or 4506T-EZ to the IRS. Specify the type of transcript and tax year(s) needed. Processing may take several days to weeks, and transcripts are mailed to your address of record.

In Person:

Visit a local IRS office (Taxpayer Assistance Center) with a government-issued photo ID and your Social Security number. Appointments are often required. The IRS may mail the transcript to your address rather than providing it on the spot.

Best Practices and Common Pitfalls

Best Practices:

  • Obtain proper authorization (Form 8821 or 2848) if requesting on behalf of someone else.

  • Choose the correct transcript type for your needs.

  • Review transcripts for accuracy and compare with your records.

  • Store transcripts securely and only share with trusted parties.

Common Pitfalls:

  • Requesting the wrong transcript type, leading to delays or missing information.

  • Failing to obtain proper authorization when needed.

  • Overlooking identity theft indicators or missing IRS deadlines.

  • Not keeping copies of transcripts and related correspondence for your records.

Summary:

IRS tax transcripts are free, simplified summaries of your tax return or account information, available online, by phone, by mail, or in person. They are essential for income verification, loan applications, and resolving IRS issues. Always select the correct transcript type, review for accuracy, and safeguard your sensitive information.

If you need help requesting or understanding your IRS tax transcript, contact our team today.