What is a Tax Account Transcript? What can the account transcript be used for?
The Account Transcript is a “Plain English” presentation of a particular tax return account for a particular year. It will reflect information about when the return was received, tax reported on the return, estimated tax payments and the dates those payments were made, credits of overpayments from the prior tax year, credits of current overpayments to the next tax year, IRS examination indicators, IRS examination assessments, amended return adjustments, processed refunds paid or scheduled to be paid, returned refund checks, and penalty and interest assessments.
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