Availability of the IRS Get Transcript Online Tool

Now that the IRS has re-launched its “Get Transcript Online” tool using a new multi-factor authentication process, users of the system (including students and families mired in verification hell) will need to register prior to submitting a transcript request. A tax filer who is not able to register will have to request a tax transcript by mail, paper or phone – which let’s face it just takes forever. Keep in mind, the IRS does not accept requests for transcripts in person at it’s taxpayer assistance centers now either. So here’s what you need to know to help keep your students from going crazy.

According to the recent electronic announcement, “To use the new Get Transcript Online tool, the user must have (1) access to a valid email address, (2) a text-enabled mobile phone (pay-as-you-go plans cannot be used) in the user’s name, and (3) specific financial account numbers (such as a credit card number or an account number for a home mortgage or auto loan). Note that the IRS Get Transcript Online registration process will not result in any charges to the card or to the financial account.”

Students are complaining that it’s too hard to use. I recommend having them watch this quick video starring Hector, a lovable IRS representative who does a pretty good job of demystifying it all: How To Use Get Transcript Tool
For the full announcement from Federal Student Aid, click here: Availability of IRS Get Transcript Tool