The IRS site "Get Transcript Online" is once again available. This site gives taxpayers access to copies of their tax transcripts and similar documents that summarize important tax return information. The new site is set up to better protect against potential cybersecurity threats through a more secure access framework.
Users of the new system must have an email address, a text-enabled mobile phone, and specific financial account information, such as a credit card number or certain loan numbers. As part of a new multifactor process, the IRS will send verification, activation, or security codes via email and text. Taxpayers who previously registered for the tool will need to reregister and strengthen their authentication.
While some taxpayers may now find it more difficult to authenticate their identities with this strengthened process, the IRS says they are committed to making sure everyone accessing the site will be able to do so in a safe and secure way.
Taxpayers can still order transcripts by phone for receipt by mail, which typically are delivered to the address on record within 5 to 10 days.
We will be taking a break next week for the 4th of July and will return on July 12th.
Disclaimer: The items included in the Tax Tip Tuesday Video Blog are informational only and are not meant as tax advice. Consult with your tax advisor to determine how any item applies to your situation. IRS Circular 230 disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advise contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.