Home |IRS Tax Return | How long does it typically take to receive tax transcripts after filing for the tax years 2021 and 2022? I've already set up a payment plan, but I need to determine the total amount owed, including any interest or penalties. My returns were electronically accepted last week. Can I print copies of the returns, bring a signed POA, and visit a local IRS office to address these matters?

How long does it typically take to receive tax transcripts after filing for the tax years 2021 and 2022? I've already set up a payment plan, but I need to determine the total amount owed, including any interest or penalties. My returns were electronically accepted last week. Can I print copies of the returns, bring a signed POA, and visit a local IRS office to address these matters?

Robert James, 20+ years of experience in IRS matters
Answered on September 24,2023

Going to the local office isn't going to help - you need to wait for the returns to process. It usually takes a minimum of three weeks for balance due returns that were e-filed.

You might be able to find a free IRS penalty calculator online. Any returns from 2021 & 2022 that were filed more than 60 days late will have a minimum Failure to File penalty of $435 or 100% of the tax due on the return if less than that. Otherwise Failure to File is 5% per month, maxing out at 25% of the tax due on the return.

On top of that you have Failure to Pay penalties and interest; right now the rate for both is about 13% per year. If you want to estimate, divide 13% by 12 and multiply that by tax due on the return and the number of months the returns are late.

You may qualify for First time penalty abatement on 2021 - the best time to request this is after you have paid off the tax due on the return and only have penalties and interest left to pay. You can check your Account transcripts online to figure out when that is.

Penalty Relief due to First Time Abate or Other Administrative Waiver

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