2019 IRS Wage and Income Transcripts Expected in May
Every year during tax season, many tax professionals and taxpayers eagerly await the release of IRS Wage and Income Transcripts in order to assist in return preparation. Wage and Income Transcripts provide valuable data, which the IRS compiles from information returns it receives, such as Forms W-2, 1099, 1098 and Form 5498, IRA Contribution Information.
Currently, tax professionals are expecting the timing of the 2019 Wage and Income Transcripts’ release to follow suit with the release dates in 2018 and 2019. This means that 2019 Wage and Income Transcripts are expected to be released sometime in May of 2020. However, remember that the IRS is careful to emphasize that “current tax year information may not be complete until July.”[1]
[1]https://www.irs.gov/individuals/tax-return-transcript-types-and-ways-to-order-them.
