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It has been disclosed that United States taxpayers now have the option to download their tax transcripts online from the Get Transcript service of the Internal Revenue Service (IRS).
Through the Get Transcript service, taxpayers can get an official copy of their past tax and information returns, also referred to as transcripts, which are often used to validate income and tax filing status for mortgage applications, student and small business loan applications, and during tax preparation. Transcripts can thereby be viewed and printed immediately, rather than by mail, when individuals have to wait 5 to 10 business days.
While the opening of the new online service had been expected to be announced early in 2014, its availability was, in fact, disclosed at the recent White House Education Datapalooza by Katherine Sydor, a policy advisor in the Treasury's Office of Consumer Policy.
"I am very excited to announce that the IRS has just launched, this week, the Get Transcript application, which will give taxpayers the ability to view, print, and download tax transcripts," she said at the meeting.
The White House, in a fact sheet on the Education Datapalooza, and under the heading of "Streamlining Application Paperwork," later confirmed the availability of the new service, as giving "taxpayers the ability to view, print, and download their tax transcripts – making it easier for student borrowers to access their own tax records needed for loan and grant applications."
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