Wednesday, February 19, 2014

New Tax Transcript Option from the IRS

If you have your FAFSA verified, and if you didn't use the IRS Data Retrieval Tool, then you probably know that you'll have to most likely obtain a tax return transcript to submit with your paperwork. If you live close enough to an IRS office, then you can go there to pick one up, but sometimes, this takes time. I've heard stories of people who could quickly walk in and walk out a short time later with their transcript, but I've also heard stories of people who had to wait and others who couldn't actually pick it up that day.

If you need to obtain a tax transcript, one easy way of obtaining it is to call 1-800-908-9946 and request it be sent to you. Another easy way is to request one from the IRS through their website. Click here to be taken to that page.

But the quickest way of obtaining a tax transcript is the new option to download a pdf of the transcript. If you click here, you will be taken to the IRS website where you immediately download your tax transcript pdf. This is helpful because if you call in or if you request online, it can take up to a couple of weeks to receive your transcript in the mail.

Remember, the best way of avoiding being verified is to use the IRS Data Retrieval Tool and making sure everything on the FAFSA is accurate. But if you are selected for verification anyway and need a tax transcript, be sure to check out the new transcript request option on the IRS website.

This has been another helpful posting from your friends at Metro Business College.