There are multiple situations where you need to find out what the IRS knows about you. It could be for the purpose of obtaining a loan, filing past year tax returns, or simply getting a copy of tax records for your files. A great place to start is understanding the IRS’s new online account function.

Background

In the past, if you needed a copy of a tax return or wanted copies of W-2s and 1099s you called the IRS or filled out a form and sent it to them. You then waited. Now this information is available online through their Get Transcripts function.

How it works

Get registered using ID.me. To get copies of your information from the IRS, you must first register and have your identity confirmed. The identity confirmation process is either an interview or verification using an approved government issued id like a passport or a valid driver’s license. So before starting the process it is best to be prepared with:

• Original copies of either your drivers’ license or passport
• A cell phone to take a selfie and to access software required by ID.me
• Have a secure email and cell phone number
• A secure computer on a private network

Getting access to your records. Once you have your identity confirmed, the IRS will allow you to set up a password and multi-factor authentication to access to your account.

Options within the account. Once your account is set up you can see:

• Your account status
• Payment function and activity
• Copies of notices and letters
• Any authorizations to access information or help you
• Tax records

Available tax records

In the Get Transcripts function, you can retrieve copies of W-2s and 1099s filed by others on your SSN, review copies of original 1040 transcripts and any changes or modifications of the tax return. You can also retrieve history of advanced child credit payments and any economic impact payments.

Some Tips

Use caution. Setting up an online account with the IRS requires sharing sensitive information. So only do this on a secure device, on a home or private network. Make sure you are on the IRS website. DO NOT use a link to the site.

You do it. The online retrieval service is for individuals. Do not have someone else set up your account and do not share your login information with anyone.

Online versus phone or mail. This new retrieval service saves a lot of time versus filing out forms or requesting information. So consider signing up only if you are in need of a form and cannot get it any other way.

The online service is not for everyone. While it does save time, if you are at all wary of the service, ask for help. It is just a phone call away.