If you need an IRS Transcript to fulfill requirements of applying for a loan, here’s how you get one. The IRS makes it easy for you, surprisingly! Another good thing: an IRS Transcript is totally free. Now, if it’ s a copy of your tax return that you need, that’s a different story. Also, it’s a totally different IRS form. Usually lenders don’t need your entire tax return to get the necessary information for making a decision on whether to fund your loan. They just need the vital statistics, which are what’s on an IRS Transcript.
How to Order an IRS Transcript
If you are a phone-based person, you can call the IRS to order a transcript. The number is 1-800-908-9946. Alternatively, you can order one online at https://sa1.www4.irs.gov/irfof-tra/start.do. It’s on the irs.gov website. By the way, a note on security and the internet: if you’re ordering an IRS transcript and you don’t see irs.gov somewhere in the address line then GET OUT. It’s a scam website that is trying to steal your identity by having you type in your Social Security number and other vital personal information.
Yes, the IRS website transcript ordering page will ask you for personal information so do that address check before entering anything. You’ll need your Social Security number, your date of birth, your street address and your zip code. That’s the first screen. Once you enter that info, you’re done entering information.
If you’re ordering an IRS transcript online, the only place you can have it sent is to yourself.
What’s Included on the IRS Transcript?
Whoever gets that copy of your IRS transcript will be able to know the following things about you:
- your taxable income
- your adjusted gross income
- any adjustments you made to taxable income, like tax credits etc
- your marital status
You may think it doesn’t matter what adjustments to income you made on your income tax return, but your adjustments are based on your life. For example, if you have dependents then that’s basically spelled out in plain English on your IRS transcript because having dependents means you adjust the heck out of your income because you get all kinds of tax credits when you have dependents.
What Form is Needed for an IRS Transcript?
Since the only place you can have an IRS transcript sent if you order it online is to yourself, you’ll need to fill out a paper form if you want one sent directly to a lender or a school. You will need IRS Form 4506-t. It’s short and easy; you just download it, fill it out, and mail it to the address provided.