Tax Transcript

Tax Transcript refers to a summary of a taxpayer’s tax return information, as recorded by the Internal Revenue Service (IRS).

Tax transcripts are used for various purposes, including verifying income for loan applications, reviewing past tax returns, or resolving tax issues. There are different types of tax transcripts, such as the Tax Return Transcript, which shows most line items from the taxpayer’s return, and the Tax Account Transcript, which provides information about the taxpayer’s account, including adjustments made by the IRS. Taxpayers can request their transcripts online, by mail, or by phone, and they are typically available for the current tax year and the previous three years.