What’s on a tax transcript?
A transcript displays your tax information specific to the type of tax transcript you request .
The IRS is responsible for protecting and securing taxpayer information. Because of data thefts outside the tax system, cybercriminals much attempt to impersonate taxpayers and tax professionals. Thieves attempt to gain access to transcript data which can help them file deceitful tax returns or bargain extra data of other individuals and businesses listed on transcripts .
The IRS better protects your information from identity larceny by partially masking the personally identifiable information of everyone listed on transcripts. All fiscal entries remain amply visible to assist with tax preparation, tax representation and income verification. Anyone with a want to know will be able to identify the taxpayer associated with the transcript based on the data that still displays .
Here is what’s visible on transcripts:
- Last four digits of any SSN: XXX-XX-1234
- Last four digits of any EIN: XX-XXX4321
- Last four digits of any account or telephone number
- First four characters of the first and last name for any individual (first three characters if the name has only four letters)
- First four characters of any name on the business name line (first three characters if the name has only four letters)
- First six characters of the street address, including spaces
- All money amounts, including wage and income, balance due, interest and penalties
The IRS will provide unmask Wage and Income transcripts when needed for preparing and filing tax returns. Unmasked engage and Income transcripts in full display personally identifiable information such as the taxpayer ‘s name, savoir-faire, and Social Security count along with the employer ‘s name, savoir-faire, and Employer Identification act.
Customer File Number
Because the fully Taxpayer Identification number is no longer visible on most transcripts, the IRS created an optional playing field where a Customer File Number can be entered and will display on the transcript. This count can be up to 10 digits but can not be a taxpayer recognition number, such as a Social Security phone number. The issue is normally provided by third base parties to assist with matching a transcript to a taxpayer.
Forms 4506-T and 4506-T-EZ include a sphere where a Customer File Number can be entered to display on the transcript. individual taxpayers using Get Transcript or calling the automated phone transcript service at 800-908-9946 can enter a Customer File Number to display on the transcript. Tax professionals, with proper authority to access the Transcript Delivery System, can besides enter a Customer File Number to display on the transcript.
hera ‘s how it would work for a taxpayer seeking to verify income for a lender : the lender will assign a 10-digit number, for model, a loan number, and it will be entered on Form 4506-C. When the mannequin is processed by the IRS, that number will display on the transcript. The lender will use that number to match the transcript to the taxpayer ‘s loan number .
Faxing and Third-Party Mailings
For security reasons, the IRS does not fax most transcripts .
The IRS besides does not mail transcripts to third gear parties when Forms 4506-T or 4506-T-EZ are submitted .
- Transcript Types and Ways to Order Them – for Individual taxpayers
- e-Services – for tax professionals to access the Transcript Delivery System and obtain transcripts
- Forms, Instructions and Publications – for viewing and downloading forms such as the 4506-T