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What is the difference between the tax return and the tax return transcript?
What is the difference between the tax return and the tax return transcript?
- Cory Ziegenfuss
- William Schneider
- Andrea Mocko
Owned by Cory Ziegenfuss
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The tax return is a form filed with the IRS that is used to determine an individual’s tax liability. Forms include the 1040, the 1040A, or the 1040EZ.
The tax return transcript is a document tax filers can request from the IRS that includes the information submitted on the tax return. It does not include any changes the tax filer or the tax preparer made after filing the original tax return.
The Department of Education (DOE) does not allow schools to accept the tax return (1040 form) for verification purposes. Students and parents should request the tax return transcript.