{"ok":true,"canonical_url":"https://dealroom.so/glossary/irs-transcripts","api_url":"https://dealroom.so/api/public/glossary/irs-transcripts","data_freshness":{"sba_records_through":"2026-05-31","fdic_records_through":"2026-03-31","dealroom_last_updated":"2026-06-15","timezone":"America/Chicago"},"source_summary":["Public SBA 7(a) loan records","FDIC institution data","DealRoom lender and franchise enrichment"],"term":{"slug":"irs-transcripts","term":"IRS transcripts (4506-T)","group":"Reading the business","definition":"The seller's tax records, pulled straight from the IRS. Lenders match them against the books they were shown. Mismatches kill deals.","what_it_means":"The 4506-T form authorizes the lender to pull the seller's tax returns directly from the IRS, bypassing the seller entirely. Lenders then line up those transcripts against the profit-and-loss statements and bank statements you were shown in the listing. If the numbers don't match — which happens more often than sellers expect — the deal is in trouble. As a buyer, you can ask to see the transcripts directly during due diligence; a seller who resists is worth scrutinizing.","url":"https://dealroom.so/glossary/irs-transcripts","official_sources":[],"related":[{"slug":"add-backs","term":"Add-backs","url":"https://dealroom.so/glossary/add-backs"},{"slug":"sde","term":"SDE","url":"https://dealroom.so/glossary/sde"},{"slug":"ebitda","term":"EBITDA","url":"https://dealroom.so/glossary/ebitda"},{"slug":"due-diligence","term":"Due diligence","url":"https://dealroom.so/glossary/due-diligence"}],"related_questions":[{"question":"What if the business I'm acquiring currently owes money to the IRS or state tax authorities?","url":"https://dealroom.so/sba-7a/questions/what-if-the-business-i-m-acquiring-currently-owes-money-to-the-irs-or-state-tax-authoritie"},{"question":"What happens if my business has outstanding federal taxes, like IRS debt, when applying for an SBA loan?","url":"https://dealroom.so/sba-loans/basics/what-happens-if-my-business-has-outstanding-federal-taxes-like-irs-debt-when-applying-for-"},{"question":"Are there peak times of the year when SBA 7(a) loan applications take longer to process?","url":"https://dealroom.so/sba-7a/questions/are-there-peak-times-of-the-year-when-sba-7-a-loan-applications-take-longer-to-process"},{"question":"Are SBA 7(a) loans grants that I don't have to repay?","url":"https://dealroom.so/sba-loans/basics/are-sba-7-a-loans-grants-that-i-don-t-have-to-repay"},{"question":"How do I ensure an investor's funds for my down payment don't make them an owner requiring a personal guaranty?","url":"https://dealroom.so/sba-7a/questions/how-do-i-ensure-an-investor-s-funds-for-my-down-payment-don-t-make-them-an-owner-requiring"},{"question":"Are there ongoing fees that I have to pay to the SBA throughout the life of my 7(a) loan?","url":"https://dealroom.so/sba-loans/basics/are-there-ongoing-fees-that-i-have-to-pay-to-the-sba-throughout-the-life-of-my-7-a-loan"}]},"caveats":["Definitions represent DealRoom's plain-English interpretation for buyers; verify regulatory terms against the official SBA and eCFR sources listed.","Not legal, tax, or financial advice, and not an SBA eligibility determination."],"citation":{"label":"DealRoom.so Glossary — IRS transcripts (4506-T)","url":"https://dealroom.so/glossary/irs-transcripts","source_type":"DealRoom Data"}}