How IRS Wage & Income Reports Can Save You When Records Are Missing

One of the biggest worries people have when catching up on old taxes is: “I don’t have my records anymore.” But what many don’t realize is that the IRS already has much of this information on file. It’s called the Wage & Income Transcript—and it can be a lifesaver when records are missing.

What Is the Wage & Income Transcript?

The Wage & Income Transcript is a record of all the forms that third parties (employers, banks, lenders, schools, etc.) file with the IRS under your Social Security Number. This includes:

• W-2s (wages and withholding)

• 1099s (contract income, dividends, retirement distributions, interest, etc.)

• 1098s (mortgage interest, tuition payments)

• Other informational returns reported by payors

Why It Matters

If you don’t have your old W-2s or 1099s, the Wage & Income Transcript gives you the numbers directly from the IRS’s system. It’s often the single most important tool for reconstructing returns.

How to Get It

• Online: Through the IRS “Get Transcript” tool.

• By Mail: Request Form 4506-T and check the Wage & Income box.

• Through a Practitioner: Tax professionals can pull transcripts on your behalf with authorization.

Limitations to Know

• Information may lag (not always complete for the most recent year).

• Some details like business expenses won’t appear—you’ll still need to reconstruct those.

• Accuracy depends on what was reported by employers or banks.

Conclusion

If you’re missing tax records, the Wage & Income Transcript should be your first stop. It provides a reliable foundation for filing accurate returns, even when your own paperwork is long gone. Don’t let lost records hold you back. We can pull your transcripts, explain what’s missing, and help you rebuild the rest.