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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29772
Experience:  Taxes, Immigration, Labor Relations
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Does a tax transcript show how much taxes are still owed on

Customer Question

Does a tax transcript show how much taxes are still owed on a return?
Submitted: 7 years ago.
Category: Tax
Expert:  Lev replied 7 years ago.


If you need a statement of your tax account which shows changes that you or the IRS made after the original return was filed, however, you must request a "tax account transcript". Both transcripts are generally available for the current and past three years and are provided free of charge. The period in which you will receive the transcript varies from within 10 to 30 business days from the time the IRS receives your request for the tax return or tax account transcript.

You can obtain a transcript by calling(NNN) NNN-NNNNand following the prompts in the recorded message or by completing and mailing Form 4506-T , Request for Transcript of Tax Return, to the address listed in the instructions.


While filing a form 4506-T - be sure to check six "b" for a "Account Transcript", which 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.