What’s an IRS Account Transcript?

The IRS keeps a database of information regarding each Tax Identification Number (TIN).   The information is recorded on Account Transcripts, that show activity on the TIN for each tax year.

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What is Transcript Analysis?

To the untrained eye, these Account Transcripts can seem to be in a different language.  Tax Refuge & Associates has over 15 year of experience with transcript analysis and will decipher your IRS taxpayer history so that you are well informed and can take the necessary steps to resolve your IRS tax matter. Our Transcript Analysis service includes a breakdown of active IRS demand letters, penalties and interest you’ve accrued, any tax liens or levies filed or released, the Collection Statute Expiration Date (the Government’s right to pursue timeframe), your IRS payment history and if you are at risk for collection.

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Why is Transcript Analysis important?

The Transcript Analysis is a gateway into the IRS’s current and future actions with taxpayers who have years of unfiled tax returns or have a heavy tax burden.  It provides the exact information that the IRS has – critical information that is useful in developing the key components to a permanent resolution to a personal or business tax problem.  As the IRS states, “IRS transcripts are often used to validate income and tax filing status for mortgage applications, student and small business loan applications, and during tax preparation.” Clearly, Taxpayer transcripts contain very useful information, and you should know what the IRS knows about you.

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How can a Taxpayer of obtain their IRS Transcript (or Tax Record of Account?)

Anyone can obtain their taxpayer transcript from the IRS government website, however, obtaining it quickly and deciphering it can be complicated.  The best course of action is to obtain your transcript with the help of experienced tax resolution experts such as Tax Refuge & Associates. With your authority, our certified tax professionals will immediately pull your record and inform you on what the IRS is most likely to do next regarding your tax problem. We’ll step into your shoes and head-off the IRS from actions that could inhibit the continuance of your economic life. Tax Refuge & Associates is committed in providing you with an actionable resolution strategy to permanent solve your tax debt problem.