What is a tax transcript in the United States? Why do we you need this?

  • by admin
  • November 29, 2021

A tax transcript is a summary of your tax return which has been assessed by IRS. The IRS issues the tax transcript. You can apply online if you have Social Security Number. Please click the link tax transcript to apply. If you do not have a Social Security Number, you can not apply online. However, you can call IRS (Internal Revenue Services) and request for the tax-transcript. If you are a Canadian resident for tax purposes and also filing a tax return in the United Sates, you should be able to claim a foreign tax  credit on your Canadian tax return for the taxes that you have paid on your US tax return. Generally, when Canada Revenue Agency is assessing your foreign tax credit, which has been claimed on your Canadian tax return, will ask you to provide the tax transcript to verify your claim for the foreign tax credit.

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