Transcripts in 2019


#1

Good Morning,
Just wanted to share with the group. I suspect most people in this group use Canopy’s free transcript tool (so this will not impact you). However, if you’re relying on faxed transcripts, time to look for new options…

https://www.irs.gov/newsroom/coming-soon-a-new-tax-transcript-to-better-protect-taxpayer-data


#2

Now if only we could get them to stop requiring we fax everything to them…


#3

So when I use the transcript Delivery Tool, I still get redacted information. It seems that if we want to have the full transcripts (with EIN’s) then the only way to obtain those is through the mail and to the client. It does not looklike they can be mailed to the tax professional’s address, even if the box saying send all copies to POA on the 2848 is checked. Anyone else have different information? I’m really hoping I am doing this wrong!

The IRS will give you the information over the phone, which is helpful. Of course it could get a little unwieldy if there are multiple W2s and other income forms. SIgh.


#4

You are correct. They will only send the transcripts to the Taxpayer’s last address of record. Could cause problems if your client has moved!

As an update, the NAEA has proposed to the IRS that transcripts from a PPS assister be directed to the practitioners e-services mailbox where the transcripts would be available for download with full security. We will have to wait and see if the IRS bites or remains stubborn.


#5

Will you still be able to get transcripts through Canopy? I will request my first transcripts through Canopy next week so I don’t know how effective this is.


#6

Tim,
You should. The IRS has been making some updates to it’s e-services platform. The problem is, the tech is a little older and doesn’t quite match up with our newer platform. Canopy has dedicated more resources to try and make the systems integrate and/or at least develop a work around. We understand how important this tool is to practitioners, and will keep pressing forward.