Any taxpayer can view, print or download their own transcripts on-line in real-time using a computer or a smart phone. Note: This is not a “traditional” app; rather, it is a means to access the information that previously would have taken a Power of Attorney or written requests or meticulous personal bookkeeping.
Go to www.IRS.gov and enter “get transcript” in the site search bar or click here.
You need to log onto the IRS website and then click on the link ”Order a Return or Account Transcript” under the “Tools” menu and then choose to either order a transcript to be mailed to you or get a transcript online.
If you choose to get a transcript online, you will follow a six step process to enter your information (including getting a code emailed to you and answering some personal security questions), and you will be able to request a transcript. You will also be given several reasons to choose from as to why you are requesting the transcript and recommendations as to which transcript to best suit your needs.
Why is this huge news? Check out what you can get in a moment’s notice:
Definitions of the various types of Transcripts
- Account Transcript – (2013 back to 2006) History for Each Tax Year
This is a history of each tax year. It shows estimated payments made for current tax year (2013) as well as showing when the return was filed, filing status, number of exemptions, AGI, Taxable Income, refund / balance due, etc. An illustrated example is included.
- Return Transcript (2013 back to 2010)
This shows most line items from your tax return (Form 1040, 1040A or 1040EZ) as it was originally filed, including any accompanying forms and schedules. This transcript does not reflect any changes you, your representative or the IRS made after you filed your return. In many cases, a Return Transcript will meet the requirements of lending institutions offering mortgages and student loans.
- Record of Account (2012 back to 2010)
This combines the information from tax account and tax return transcripts.
- Wage & Income (2013 back to 2004)
This shows data from information returns, such as W-2s, 1099s and 1098s, reported to the IRS. Most recent year information (2013) may not be complete until January of the following year. Most Wage and Income Transcripts are reasonably complete by mid-summer but the database continues to develop throughout the year.
- Verification of Nonfiling Letters
These are proof from the IRS that you did not file a return. Current year requests are only available after June 15. A taxpayer may fail to file a tax return even though he/she has a filing requirement. This letter does not address whether or not the taxpayer should have filed a tax return.
This will significantly aid in your tax time gathering process. Check it out today!