What does the term transcript mean with the IRS and what can it do for you?  The term means a copy of your filed tax return or a made up return from the IRS deriving information from other third parties such as a brokerage houses, banks, etc…

This information is useful when you don’t have a copy of your tax returns.  It can help you respond to many questions for FASFA, loan applications, and giving a copy to your new tax accountant.  In short – it is the next best thing to the actual tax return.

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