“The whole process from start to finish was seamless. Glen was a pleasure to work with; efficient, kind and helpful! We will be using EAS Income Tax Services for all of our tax needs in the future!”
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IRS Transcripts: Understand Your Tax History and Resolve Tax Issues with EAS Income Tax Services
What Are IRS Transcripts?
IRS transcripts are official records from the Internal Revenue Service that provide a detailed summary of your tax filings, income, payments, and any balances due. These documents are essential for individuals and businesses looking to resolve IRS tax problems, file back taxes, address discrepancies, or defend against audits.
At EAS Income Tax Services, we take the complexity out of obtaining and understanding your IRS transcripts. As Certified Tax Resolution Specialists, we not only pull your transcripts but also perform an in-depth analysis, helping you understand your tax situation and providing solutions for any tax-related concerns.
Types of IRS Transcripts
There are several types of IRS transcripts available, each serving a different purpose. Here’s a breakdown of the most common types and what they contain:
Tax Return Transcript: Shows most line items from your original return as filed. Useful for verifying income or when applying for loans or financial aid.
Tax Account Transcript: Provides basic data such as tax owed, payments made, and any penalties or interest. This transcript is essential when addressing IRS tax debt.
Record of Account Transcript: A combination of the Tax Return and Tax Account transcripts. It offers a full picture of your return and account activity.
Wage and Income Transcript: Displays information from Forms W-2, 1099, and other sources of income reported to the IRS. This transcript helps reconcile discrepancies between reported income and IRS records.
Verification of Non-Filing Letter: Confirms that the IRS has no record of a tax return filed for a specific year. Required when proving that you were not required to file a return.
Why You Should Regularly Review Your IRS Transcripts
Regularly reviewing your IRS transcripts can help you stay on top of your tax situation and identify issues before they escalate into bigger problems. Here are some key benefits of reviewing your transcripts:
Detect Errors Early: If there are errors in the income reported to the IRS or discrepancies in your tax payments, reviewing your transcripts can help you catch them before the IRS takes action.
Identify Unpaid Taxes or Penalties: IRS transcripts can reveal balances owed, penalties, or interest that may have been overlooked. Addressing these sooner can help avoid additional charges.
Monitor IRS Notices or Adjustments: If the IRS has made adjustments to your tax return, they will be reflected in your tax account transcript. Monitoring these changes ensures you’re aware of any corrections or issues raised by the IRS.
Prepare for Audits or Disputes: If you’re being audited or disputing an IRS claim, transcripts provide the documentation you need to build your case and defend your tax filings.
How EAS Income Tax Services Simplifies IRS Transcript Retrieval and Analysis
Obtaining and understanding IRS transcripts can be overwhelming, especially when you’re already dealing with tax issues. At EAS Income Tax Services, we take care of the entire process for you:
Fast and Secure Transcript Retrieval: We request your IRS transcripts directly from the IRS using the proper authorizations, ensuring secure and timely access to your tax records.
Comprehensive and Detailed Analysis: Our experienced tax professionals analyze your transcripts in detail, checking for inconsistencies, unpaid taxes, missing returns, and potential red flags that could trigger further IRS scrutiny.
Customized Summary Report: Once we’ve reviewed your transcripts, we prepare a detailed report that breaks down the information in a clear, easy-to-understand format. This report highlights critical issues and outlines steps for resolution.
IRS Problem Resolution: Based on the findings from your transcripts, we work with you to develop a customized plan for resolving your IRS issues, whether it’s negotiating a tax debt settlement, correcting errors, or responding to IRS notices.
IRS Transcript Services for Individuals and Businesses
Whether you’re an individual taxpayer or a business owner, understanding your IRS transcripts is crucial for maintaining tax compliance and avoiding penalties. Here’s how we can help:
For Individuals: We help individuals resolve IRS issues such as back taxes, wage garnishments, and liens by thoroughly reviewing their transcripts and creating a strategy for resolution.
For Small Businesses: If you’re a business owner, our transcript analysis can help you identify discrepancies in payroll taxes, business income reporting, and unpaid taxes, protecting your business from IRS penalties.
For Self-Employed Professionals: Freelancers and self-employed professionals often face more complex tax situations. We assist with reconciling 1099 income, business expenses, and estimated tax payments, ensuring your IRS records are accurate.
Common Issues Uncovered Through IRS Transcript Analysis
Analyzing your IRS transcripts can uncover a wide range of issues that may be impacting your tax situation, including:
Unfiled Tax Returns: IRS transcripts can reveal whether the IRS is missing any tax returns, which could lead to penalties or even tax audits.
Discrepancies Between IRS Records and Your Returns: If there are differences between the income or payments reported on your tax return and what the IRS has on file, it could lead to an IRS investigation or penalties.
Accrued Penalties and Interest: We help clients identify penalties for late filings, late payments, and failure to pay estimated taxes, providing strategies to reduce or abate these penalties where possible.
Potential Tax Liens or Levies: If you owe taxes, your transcripts will reveal whether the IRS has taken steps toward filing a lien or issuing a levy against your assets.
Why Trust EAS Income Tax Services for Your IRS Transcript Needs?
As a trusted leader in tax resolution, EAS Income Tax Services combines in-depth knowledge of tax law with practical experience resolving IRS issues. Here’s why clients across the country rely on us for IRS transcript services:
Certified Tax Resolution Specialists: Our team is led by Glen L. Graves, a Certified Public Accountant (CPA) and Certified Tax Resolution Specialist. We have the expertise and credentials to handle even the most complex tax issues.
Client-Centered Approach: We know every tax situation is unique. That’s why we offer personalized service tailored to your specific needs, providing practical solutions and ongoing support.
Nationwide Service: While our tax preparation services are focused on Atlanta and the surrounding areas, we offer IRS tax resolution and transcript analysis services to clients across the U.S.
Start Resolving Your IRS Tax Issues Today
Don’t wait until IRS problems become overwhelming. EAS Income Tax Services can help you get a clear picture of your tax situation by pulling and analyzing your IRS transcripts. Our expert team is ready to provide actionable solutions that will put you on the path to financial peace of mind.
Call us today at (404) 719-0330 or schedule your consultation online through our Calendly link.
