Due to the increasing concern about fraudulent applications for mortgage, car loan, financial aid or some other form of funding, Financial institutions prefer to see copies of your tax transcripts.
What is a tax transcript?
A tax transcript is a quick summary of your important tax information from your federal tax return.
How to get tax transcripts?
There are 3 ways you can get your tax transcripts:
1 – Order online.
2 – Order by phone.
3 – Order by mail
Order Online – Use the ‘Get Transcript ’ tool available on IRS.gov. Those who use it must authenticate their identity using the Secure Access process.
To register an account and request an IRS tax transcript online you need the following information:
Social Security Number (SSN) or Individual Tax Identification Number (ITIN)
Tax filing status
Current mailing address
U.S. mobile phone number associated with your name (so the IRS can send you a text message about your IRS account and protect your information)
Order by phone – The IRS also allows you to use an automated phone line to request a tax transcript. Simply call the agency at 1-800-908-9946 and follow the prompts.
Order by mail – If you need to apply for your transcript by mail, you can fill out Form 4506-T, Request for Transcript of Tax Return. You can also use the online Get Transcript by Mail tool to submit your request for a mailed transcript.
Getting your tax information to prove your income is a straightforward process. Generally, you can quickly and easily get a copy of your tax transcript for free. You will generally receive your transcript(s) in the mail within 5-10 days after the IRS receives your request.