Did you know that retrieving your previous tax returns can be a valuable tool for understanding your financial history and ensuring accuracy in future tax filings? Whether you're applying for a loan, seeking financial aid, or just doing your taxes, having your tax return from previous years can be crucial. Here's a step-by-step guide to help you easily retrieve your 2020 tax return:
Step 1: Access the IRS Portal
Start by visiting the official IRS website at irs.gov. This portal is where you’ll find the tools needed to manage your tax records.
Step 2: Set Up Your IRS Account
Before you can access your tax records, you need to have an IRS account. If you haven’t set one up yet:
- Navigate to irs.gov/payments/view-your-tax-account.
- Click on “Create an Online Account” or log in if you already have an account.
- Provide the necessary personal information like your social security number, date of birth, and address to verify your identity.
- After verification, you’ll receive an activation code via mail which you will need to enter to finalize the account setup.
Step 3: Use the “Get Transcript” Tool
Once logged in:
- Go to the “View Tax Records” section.
- Click on “Get Transcript.”
- Select the type of transcript you need. For your tax return, choose “Tax Return Transcript” or “Record of Account Transcript.” The former gives you the return as filed, while the latter includes adjustments made by the IRS.
- Specify the year 2020 for the tax return you want to retrieve.
- Choose how you would like to receive your transcript:
- Online: Available within minutes if you pass the ID verification.
- By Mail: It can take 5 to 10 calendar days to arrive.
📅 Note: The online transcript option is only available if you've previously filed electronically.
Step 4: Verify Your Identity
The IRS takes identity security very seriously:
- If you opt for immediate online access, you’ll need to answer some identity verification questions.
- If these questions can’t be answered correctly, you might need to verify your identity through a video call or in person at a Taxpayer Assistance Center.
Step 5: Review Your Tax Return Transcript
Once you have the transcript:
- Ensure all personal information, income details, and withholding match your records.
- If there are discrepancies, consider contacting the IRS or seeking professional tax advice.
This process allows you to stay on top of your financial history, ensuring you have the right documents at your fingertips for personal or professional needs. Retrieving your 2020 tax return is straightforward once you're set up with the IRS, providing you with all the necessary information to manage your finances efficiently.
Can I Retrieve Returns Before 2020?
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Yes, you can retrieve returns from previous years up to the last three years through the IRS “Get Transcript” tool. If you need earlier years, you might need to order copies directly from the IRS.
What If I’m Unable to Verify My Identity Online?
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If you can’t verify your identity online, you can opt for video chat verification or make an appointment at a local IRS office to verify in person.
How Long Do I Need to Wait for a Mailed Transcript?
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Expect to wait around 5-10 calendar days to receive your mailed tax return transcript.
