When negotiating a deal with the IRS it is extremely important to have all of the facts. The IRS knows everything about you and your past filings, so shouldn’t you too? In all matters that we handle with the IRS, we ALWAYS request the taxpayers, or business’ IRS transcripts. While we have a special privilege and can access your transcripts more quickly than you may be able to, the IRS has laid out how taxpayers may request copies of their own transcripts: here.
You will be able to request copies of the following documents from the IRS:
- Tax Return Transcript – shows most line items including your adjusted gross income (AGI) from your original tax return (Form 1040, 1040A or 1040EZ) as filed, along with any forms and schedules. It doesn’t show changes made after you filed your original return. This transcript usually meets the needs of lending institutions offering mortgages and student loans.
- Tax Account Transcript – shows basic data such as return type, marital status, adjusted gross income, taxable income and all payment types. It also shows changes made after you filed your original return.
- Record of Account Transcript – combines the tax return and tax account transcripts above into one complete transcript.
- Wage and Income Transcript – shows data from information returns we receive such as Forms W-2, 1099, 1098 and Form 5498, IRA Contribution Information. Current tax year information may not be complete until July.
- Verification of Non-filing Letter – provides proof that the IRS has no record of a filed Form 1040, 1040A or 1040EZ for the year you requested. It doesn’t indicate whether you were required to file a return for that year.
If you would like our office to conduct a Transcripts Analysis, please contact us today.
