The Internal Revenue service has re-launched its online Get Transcript app. Disabled last spring due to criminal behavior, the IRS has added an improved multi-factor authentication process to protect taxpayers’ information and data from being exploited by identity thieves. Taxpayers will no longer have to wait for copies of previous years’ transcript returns to be sent by mail. Instead, you can now access an online copy of your tax transcripts and other documents summarizing your tax return information.
Security Restored to Get Transcript
The IRS worked with top digital experts at the U.S. Digital Service and other security organizations to create a more rigorous and accurate e-authentication process for taxpayers. It significantly increases identity theft protection and provides the foundation for future, additional IRS self-help services.
The more secure access framework enables the IRS to require a two-step process for authenticating a taxpayer’s identity before certain high-level online tools and applications can be used.
What It Means for You
Some taxpayers may find it more difficult to verify their identities with the new process. But the IRS says it is committed to making sure when you access the site you will be able to do so in a safe and secure way. The agency will continue to support multiple taxpayer options for those who may find they’re unable to access online features – or those who prefer to obtain their information in more traditional ways. These options include ordering your transcripts online or by phone for receipt by mail. Delivery typically takes five to 10 days.
When you need copies of tax transcripts for income validation or for things such as student loans, the process is fairly straightforward. To use the systems, you must have:
- An email address.
- A text-enabled mobile phone.
- And specific financial account information. This can be a credit card number or approved loan numbers.
If you registered under the old process, you’ll need to re-register. Once you do, the IRS sends a one-time verification, activation, or security code via email and text. Be aware the IRS will never initiate contact with you via email or email asking for your personal information. If you’re unsure about any requests, a Las Vegas CPA firm can help. The IRS also has an FAQ page devoted to the new transcript app and how to use it.
No Perfect System
The IRS acknowledges there’s no perfect system, and criminals are becoming increasingly sophisticated every day. But it’s committed to providing a robust authentication process so taxpayers can easily access their data online. The agency vows to continue its comprehensive efforts to keep the security of its systems up-to-date in order to protect your sensitive tax data.
If you have any questions about the new Get Transcript App, a Las Vegas CPA firm can help. Fair, Anderson and Langerman is a Las Vegas CPA firm that works with you to find solutions to all your, business and personal, financial concerns. Give us a call today at 702-870-7999.