With every tax problem you must first obtain your transcripts from the IRS.
What is an IRS Transcript?
There are 5 types of free transcripts from the IRS:
- Return Transcript - This is a computer-generated summary of every line on your return. If you want the actual return use Form 4506.
- Account Transcripts - This is a chronological record of all transactions on your account. It show the filing or assessment date, penalty & interest assessments, payments, seizures & adjustments.
- Record of Account - This combines the Return Transcript & the Account Transcript.
- Wage & Income Transcript - This shows all 3rd party records which have been filed with the IRS for you. This includes W-2's, 1099's, 1098's, 5498's. etc. It is not simply income items but includes many types of filings.
- Verification of Non-filing Letter - Provides proof that the IRS has no record of a filing.
How to get a Transcript
- If you are going through an IRS Audit, you can ask the assigned Tax Examiner for all transcripts. Call or fax your request directly to the Examiner listed on the audit notices.
- Go online - IRS.gov (Only for the Last 3 Years) The IRS usually gives you a "PIN" so you can access their online system freely. See Letter 2940C
- Call the IRS at 1-800-829-7650* (For More than 3 Years of Records)
- Visit a local IRS office.
- Colorado Springs Residents Only MUST call 1-844-545-5640 to either request an appointment or request Transcripts, as indicated in this Notice.
*Telephone calls to the IRS: The IRS presents you with various "menus" to choose when you call them. To speak with an IRS representative and order your Transcripts, push the option which states, ". . . for a detailed review of your account . . .". After a wait of up to an hour you will finally speak with someone.
What to do with Transcripts
You use the transcripts to compare with your tax returns, pay records, estimated payments & bank records to verify that all filings have been correctly made. If not, there are various remedies available, including filing an Amended Return.
Bring in all these documents to our office so we can construct an Action Plan for you.