An IRS Account Can Answer a Bunch of Tax Questions
Open an IRS account, and you won’t get a free toaster. But what you do get may be better.
IRS Accounts Have Answers
If you create an IRS account, you can find out lots of useful information. Such as:
- The total amount of tax you owe. If you owe for multiple years, it will break down the total for each year, and then add them all together.
- Your payment history, including any estimated tax payments you’ve made.
- The status of your current return.
- The amount of your refund, how it’s being sent to you, and where it is in the process.
- The status of any special payments, such as the recent Economic Stimulus payments. You’ll see the amount you can expect or have already received, and how it was sent (just like a refund).
And you can also find:
- Key information from your most current return.
- Transcripts of your tax returns going back several years. You often need these for getting loans, filing for financial aid, disaster relief and more.
- Copies of any IRS notices or letters sent to you.
- The address the IRS has on file for you.
IRS Account and Payment Plans
Setting up an IRS account is the easiest (and least expensive) way to set up a payment plan for an outstanding tax bill. A payment plan lets you make installment payments on the amount you owe the government – up to $50,000 – and over as long as 72 months. You’ll still pay interest on the remainder of what you owe, but you’ll avoid any failure-to-pay penalties.
If you want to make just a one-time payment, you can always use the Make a Payment [https://www.irs.gov/payments] link on the front page of the IRS website.
How to Set Up an IRS Account
When you go to the IRS website [https://www.irs.gov/], you’ll see a link that says View Your Account near the top. Click on that, and it will take you to a link that will let you establish your identity. The IRS has partnered with ID.me to help set up and access IRS accounts. ID.me has an increased level of security to protect your personal information. You’ll need to have identification, like a driver’s license or passport that you can take a photo of and upload. You’ll also need to take a selfie with a smartphone or webcam and upload that. Once you’re ready, just follow the steps on the website.
One Last Reason to Create an IRS Account
Your tax accountant will love it!
This link will take you straight to the web page where you can get started.
While you’re at it, you can set up an account to access your Social Security info.
Lastly, you can learn more about our services here!