The IRS recently implemented an online function for taxpayers to access their tax information for free. The information within the new system is similar to the old method of calling in and requesting transcripts, but with immediate results. Taxpayers can review balances due to the IRS, see a history of activity including payments made, view transcripts of previously submitted returns, and view wage and income information as reported to the IRS. Other information available online includes prior year adjusted gross income, filing status and refund or amounts due for prior years. This type of information would be valuable when clearing up any discrepancies or disputes with the IRS regarding tax filings.
We have found that individuals can go online and register for this service in about ten minutes. There are multiple layers of identity verification required for registration including email address, text codes delivered to your cell phone, and confirmation of loan, bank or credit card accounts. Once you have established a login, then it is not necessary to provide detailed background information every time you access the system.
This service may be more efficient than providing a power of attorney to your CPA and having them request this information over the phone.
If interested, please register and access your account here:
Please contact our office if you have any questions or concerns about this service.