schirallicpa Posted June 5, 2020 Report Posted June 5, 2020 with all my heart, to fly with dragons in a land apart. (Anyone here with kids that grew up in late 90s early 2000s?) I wish the IRS transcript would give us the state info! Why can't they? Are they just mean IRS people? 2 Quote
ILLMAS Posted June 5, 2020 Report Posted June 5, 2020 I was a teen in early 90’s, I don’t know what happened. Quote
Max W Posted June 6, 2020 Report Posted June 6, 2020 Yes, it would be nice if the IRS Wage & Income transcripts had the state info as well - at least the state income tax withheld. Tax sharing information between the IRS and the states has to be done through an agreement with each state. The IRS has tax sharing agreements with all but 2 states (AK, WY), but the agreement determines what info is shared. If all the states are sharing the W-2 info, there is no reason I can think of why the state info could not be included on the W&I transcript, other than bureaucratic inertia. Since, the W-2 information does not go directly to the IRS, but to the SSA there might be some issue there, such as SSA having an agreement with the states, too. Quote
Catherine Posted June 8, 2020 Report Posted June 8, 2020 MA has a funny system; they tell you (if you call) that they have NO access to prior-year withheld tax figures. However, if you file a prior-year return and make an educated guess as to tax withheld, somehow they can ALWAYS tell you how close you were to the actual. So what we've always done is make our best guess at state tax withheld (for W2s, anyway) and file 'em. But yes, it would be lovely if the IRS could get that info. After all, for some people the state income tax is still a useful deduction on Schedule A - it's an important figure, even for the IRS. 1 Quote
Abby Normal Posted June 8, 2020 Report Posted June 8, 2020 The IRS gets W2 info from Social Security, not from the states. It was a foolish programming decision to not include it on the wage transcript. Quote
Max W Posted June 8, 2020 Report Posted June 8, 2020 3 hours ago, Abby Normal said: The IRS gets W2 info from Social Security, not from the states. It was a foolish programming decision to not include it on the wage transcript. Transcripts have been available long before there were any tax sharing information agreements, so there was nothing to program. Even as late as 2015, there were only 26 states involved. Perhaps, now that all the taxing states are on board, it can become a reality. It would certainly be a big help. 2 Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.