What are the differences between the different types of transcripts I can request through TaxScripts?

Here is some information that should help you understand the differences. These are all of the types of transcripts available through TaxScripts(R) TaxPro. Most of the following text comes directly from the IRS:

Return Transcript: Includes most of the line items of a tax return as filed with the IRS. Transcripts are only available for the following returns: Form 1040 series, Form 1065, Form 1120, Form 1120A, Form 1120H, Form 1120L, and Form 1120S.

Return transcripts are available for the current year and returns processed during the prior 3 processing years.

Account Transcript: Contains information on the financial status of the account, such as payments made on the account, penalty assessments, and adjustments made by you or the IRS after the return was filed. Return information is limited to items such as tax liability and estimated tax payments. Account transcripts are available for most returns.

Record of Account: A combination of line item information and later adjustments to the account. Available for current year and 3 prior tax years. This is a combination of the return transcript and account transcript.

Verification of Nonfiling:  Proof from the IRS that you did not file a return for the year.

Wage and Income Transcripts:  Form W-2, Form 1099 series, Form 1098 series, or Form 5498 series transcript. The IRS can provide a transcript that includes data from these information returns.  State or local information is not included with the Form W-2 information. Information for the current year is generally not available until the year after it is filed with the IRS. For example, W-2 information for 2006, filed in 2007, will not be available from the IRS until 2008.

For more detail on the types of transcripts you can request, click here. For the available years of the transcripts you are requesting, click here.

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