The IRS noted that filing an error-free tax return is key to taxpayers getting any refund they are due as soon as possible. One IRS resource that can help is Online Account. This is the fastest and easiest way to see account information such as estimated tax payments, prior year adjusted gross income and economic impact payment amounts.
Taxpayers can also request a tax transcript. There are five types of transcripts. Taxpayers should review each transcript type to determine which one best meets their needs. IRS transcripts are also a good way to check for fraudulent activity. However, ordering a transcript will not help them find out when they will get their refund. Where’s My Refund? provides the most up-to-date details about whether a tax return has been received and if the IRS has approved or sent the refund.
To protect taxpayers’ identities, the transcripts partially hide personally identifiable information such as names, addresses and Social Security numbers. All financial entries are fully visible.
There are three ways taxpayers can get transcripts:
Online. People can view their tax records in their Online Account. From there, they can visit Get Transcript Online to view, print, or download all transcript types.
By mail. Taxpayers can use Get Transcript by Mail to get a tax return or tax account transcript delivered within 5-10 calendar days. They can also submit Form 4506-T to request any transcript type. Most Form 4506-T transcript requests are processed within 10 business days and then mailed. Form 4506-T is available on the Forms, Instructions and Publications page on IRS.gov.
By phone. Taxpayers can call the IRS’s automated phone transcript service at 800-908-9946 to get a tax return or tax account transcript delivered by mail within 5-10 calendar days.
All transcripts are provided free of charge.
See full IRS press release at COVID Tax Tip 2022-46.
Posted by Jessica Ji, Associate Editor, Wealth Strategies Journal.