[IRS Tax Tip] Here’s why taxpayers should have an IRS online account
Here is a tax tip recently released by the IRS we find super helpful for our clients!
An IRS online account is an safe an easy way for individual taxpayers to view specific details about their federal tax account. Here are some of the benefits and features of this online system.
Taxpayers can view:
- Their payoff amount, which is updated for the current day.
- The balance for each tax year for which they owe taxes.
- Their payment history.
- Key information from the their most current tax return as originally filed.
- Payment plan details if they have one.
- Digital copies of select IRS notices.
- Economic Impact Payments if they received any.
- Their address on file.
After viewing their information, a taxpayer can:
- Select an electronic payment option.
- Set up an online payment agreement.
- Go directly to Get Transcript.
New authorization feature
The new the “authorization” option in Online Account allows taxpayers to control who can represent them before the IRS or view their tax records. They can also approve and electronically sign Power of Attorney and Tax Information Authorization requests from their tax professional.
Taxpayer’s balance will update no more than once every 24 hours, usually overnight. Taxpayers should also allow 1 to 3 weeks for payments to show up in the payment history.
To access their information online, taxpayers must register through Secure Access. This is the agency’s two-factor authentication process that protects personal info. Taxpayers can review the Secure Access page process prior to starting registration.
Please reach out to Team Encore if you have any questions or need assistance to create or access your IRS account.
