Quick Take: What Is a Tax Transcript and Why Do You Need One? In short, a tax transcript shows basic data and line items such as adjusted gross income, AGI, or other taxable income, as well as FICA ...

You'd like to buckle down and do your income taxes. Really, you would. But you're missing one key form: last year's federal income tax return. But wait? It will cost you $30 to get an actual copy?

Most accounting professionals will tell you to retain a copy of your federal tax return for at least three years, since you never know when you might need it. You might, for example, need a copy of ...

The IRS recommends that you keep tax records for at least three years from the date you filed your original return, and longer for special situations. You may need copies of your tax returns for tasks ...