Step-by-Step Guide for Advisors on How to Get Old Tax Return Copies

As a financial advisor, having access to a client’s historical tax information is essential. Knowing how to get old tax return copies allows you to:

• Verify prior-year income for AGI or deduction calculations
  
  

• Identify missed credits or deductions for retroactive planning
  
  

• Support compliance and IRS documentation needs
  
  

• Provide accurate advice on retirement contributions, investments, and tax strategy
  
  

Without access to past returns, advisors risk making assumptions that could reduce client benefits or trigger IRS issues.

Step 1: Ask Clients for Their Records

The simplest way to access old tax returns is through your clients:

• Request copies of Form 1040 and any relevant schedules
  
  

• Encourage clients to provide W-2s, 1099s, or supporting documents
  
  

• Keep copies securely for reference in future planning
  
  

Clients often have stored tax documents for the past three to seven years, which can cover most planning needs.

Step 2: Use IRS Transcripts

If clients cannot locate prior returns, you can obtain information directly from the IRS:

• Tax Return Transcript: Shows most line items from the original return
  
  

• Account Transcript: Displays payments, refunds, and balances
  
  

• Wage and Income Transcript: Provides details on W-2s, 1099s, and other income
  
  

Advisors should request transcripts via the IRS website or by submitting Form 4506-T on behalf of the client. Transcripts are generally available for the past 10 years.

Step 3: Check State Tax Agencies

State tax departments can also provide copies of previous returns:

• Each state has its own process for requesting copies or transcripts
  
  

• Some states allow online requests, while others require mailed forms
  
  

• Ensure you follow client consent and privacy rules
  
  

State returns may differ from federal returns in deductions, credits, and income adjustments, so reviewing both is critical.

Step 4: Verify AGI and Other Key Figures

Once you obtain old returns, confirm key data points:

• Adjusted Gross Income (AGI) for contribution limits or credits
  
  

• Earned income and taxable wages for dependent or retirement planning
  
  

• Tax credits claimed for potential carrybacks or planning opportunities
  
  

Accurate verification ensures all subsequent tax and financial advice is built on reliable data.

Step 5: Use Old Returns to Inform Planning

Having copies of prior returns enables advisors to:

• Optimize retirement contributions and Roth conversions
  
  

• Evaluate opportunities for catch-up contributions or tax-loss harvesting
  
  

• Coordinate charitable giving or other deductions with client income
  
  

• Provide informed advice on eligibility for credits like the EITC
  
  

Historical tax data turns past information into actionable insights for current and future planning.

Common Mistakes Advisors Should Avoid

When helping clients get old tax return copies, watch for these pitfalls:

• Assuming prior AGI without verification
  
  

• Overlooking missing schedules or forms
  
  

• Ignoring state-specific differences in income or deductions
  
  

• Failing to follow privacy and consent rules
  
  

Avoiding these mistakes ensures clients receive accurate, compliant guidance.

Final Thoughts

Accessing old tax returns is a critical step in providing comprehensive, compliant, and strategic advisory services. By knowing how to get old tax return copies, advisors can protect clients, maximize benefits, and make more informed financial decisions.

Turn historical tax data into a strategic advantage. Let’s retrieve and leverage your client’s past returns to plan for a smarter financial future.

Disclaimer: This material is provided for informational purposes only and does not constitute tax advice. Consult a qualified tax professional or CPA for guidance on the specific tax situation.