If your accountant has never pulled your IRS transcripts, you’re flying blind—and they’re not doing their job.

We recently saved a client from losing a $17,000 IRS payroll tax credit simply because we reviewed their business account transcript. Their prior firm had never requested a Power of Attorney, never accessed the account, and never noticed the credit. It was about to be lost permanently due to the 3-year IRS statute.

Unfortunately, this is common—especially when your provider only focuses on filing returns, not what’s actually happening in your IRS file.

What Is an IRS Transcript?

An IRS transcript is an internal summary of your tax records. There are several types, but the most important for individuals and small businesses include:

  • Account Transcript – Shows penalties, payments, assessments, and refunds
  • Return Transcript – Mirrors the data you reported on your filed return
  • Wage & Income Transcript – Shows W-2s, 1099s, and other third-party data
  • Record of Account – Combines the return + account transcript

For business clients, Form 941 account transcripts can reveal credits, missed payments, and even IRS errors.

Why Most Firms Don’t Pull Transcripts

It’s not that they can’t—it’s that they don’t often take the time to unless there’s already a problem.

Some firms claim they resolve tax issues and audits and promise transparency, yet we see time and time again that most accounting firms don’t even pull IRS transcripts for review.

The reality is: if your accountant says they’re proactive, they should be identifying issues before you get a notice and should be able to identify overpayments and errors in your IRS profile using transcripts. Waiting for a letter from the IRS isn’t strategy—it’s damage control.

At Polaris Tax & Accounting, our first step in any IRS-related service is to secure access to your account and pull the full history. That’s how we:

  • Catch missing payments or overpayments
  • Identify silent penalties building interest
  • Confirm if the IRS has received a filing or payment
  • Spot issues before you get a notice in the mail

When to Request Your IRS Transcripts

You should ask to see your IRS account transcripts when:

  • You’ve received any IRS notice (CP14, CP504, LT38, etc.)
  • You changed accountants or payroll providers recently
  • You want to verify estimated tax payments or 941 deposits
  • You’re setting up a payment plan or pursuing penalty abatement
  • You’ve gone a year or more without hearing from your accountant

Most importantly: if you’ve never seen your transcript before, you’re overdue.

How Polaris Uses Transcripts to Protect Clients

We regularly pull and review client transcripts as part of our IRS support and tax planning services. This allows us to:

  • Monitor 941 payroll credits and payments
  • Ensure S corporation distributions align with officer wages
  • Match your books to the IRS’s real records
  • Spot penalty exposure before you get hit with interest

And yes, we do this for both individual and business clients—because people come before tax forms.

Final Word: Know What the IRS Knows

You can’t fight what you can’t see. You deserve a firm that’s not just reacting to IRS mail but actively reviewing what the IRS sees behind the scenes.

If your current accountant has never mentioned transcripts or can’t explain what’s on yours, it may be time for a second opinion.

📍 Based in Plantation, FL. Working with clients nationwide.

📞 Call Polaris Tax & Accounting at 954-423-3577
🌐 https://polaristaxandaccounting.com/services/irs-tax-problems/