What Is a Tax Transcript?

A tax transcript is an IRS record of your return or account history — it's different from a copy of your actual return. The most common types are the Tax Return Transcript (a summary of your return as filed) and the Tax Account Transcript (shows payments, penalties, and adjustments). Transcripts are often required for mortgage applications, financial aid verification, or resolving IRS issues. You can get them instantly online at IRS.gov using "Get Transcript." Transcripts are free.