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Get Transcript Tool available
January 17, 2019
Students and parents who need to get their tax transcript for financial aid verification can once again use the IRS "Get Transcript" tool on the IRS site.
After some outages over the past couple of weekends, the IRS has made the tool available again - along with a new transcript format. According to the IRS, the new format better protects data by partially masking personally identifiable information. Financial data remains fully visible to allow for tax preparation, tax representation or income verification.
According to the IRS, because the SSN is partially masked, the Customer File Number was created to assist high-volume users or lenders to associate a transcript with a taxpayer. Colleges and universities, as well as lenders, must establish a system to assign the 10-digit Customer File Numbers to students/clients.
For more information, visit the IRS website Frequently Asked Questions about the new tax transcript.
Related information: January 9, 2019 Electronic Announcement Changes to 2018-2019 and 2019-2020 Verification Requirements