Ten Reasons to Visit the IRS Website
www.irs.gov, to make it more user friendly to assist taxpayers and tax practitioners in gaining access to useful information.
The IRS website is a valuable resource for information and offers a variety of helpful tools and services for all taxpayers. There are many great reasons to visit www.irs.gov, aside from its 24 hours per day accessibility and being able to prepare tax returns for free at your own convenience at no charge. Listed below are ten reasons why the IRS encourages taxpayers to visit its website:
| ONE: FREE FILE |
| This service is only offered on the IRS’ website. All taxpayers can prepare and electronically prepare and file their tax returns for free with “IRS Free File”. Taxpayers with adjusted gross income of $60,000 or less can utilize this free tax software. For those taxpayers with adjusted gross income in excess of $60,000, “Free File Fillable Forms” is also available on the IRS website. This option provides electronic versions of IRS paper forms which users can complete online. |
| TWO: ANSWERS TO TAX QUESTIONS |
| A tax tool known as the Interactive Tax Assistant (“ITA”) is available 24 hours per day on the IRS website. This tax law resource provides responses to many common tax topics and questions. The website also offers a “Tax Map” which provides a list of subjects for users to search. This information varies between different tax topics, publications, forms, instructions, and more. |
| THREE: HEALTHCARE TAX INFORMATION |
Information about the Affordable Care Act and how the law affects taxes can be found at www.irs.gov/aca. The ITA tool mentioned above can also provide taxpayers with help on how some of these laws may apply to their specific situation. The Affordable Care Act pages on the website provide valuable information including, but not limited to, the following topics:
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| FOUR: CHECK OUT A CHARITY |
| In order for a taxpayer to deduct a donation on their tax return, the taxpayer must donate to a qualified charity. The “IRS Select Check” tool can be found on www.irs.gov. This tool provides information as to whether or not a charity is eligible to receive tax-deductible charitable contributions. |
| FIVE: CHECK YOUR REFUND STATUS |
| The IRS has redesigned the “Where’s My Refund” tool on its website. Through the use of this tool, taxpayers can check the status of their refund within 24 hours of the IRS receiving their electronically filed income tax returns. Once the income tax refund is approved by the IRS, the “Where’s My Refund” tool provides an estimated date that taxpayers can anticipate receiving the funds. Individuals can use the IRS2Go mobile app to access the tool. |
| SIX: IRS DIRECT PAY |
| IRS Direct Pay is an easy, secure way for a taxpayer to pay their federal tax bill directly from their checking or savings account at no cost. The user can view their payment details and status, and modify or cancel their payment up to two business days before the payment is due. Taxpayers can easily access the Direct Pay option at www.irs.gov/directpay. |
| SEVEN: APPLY FOR AN IRS PAYMENT PLAN |
| The IRS offers payment plan opportunities for taxpayers that cannot pay their taxes in full. If a taxpayer meets the qualifications, they may apply for an “IRS Online Payment Agreement.” The direct debit payment plan is one of the best options to pay. Not only does it have a lower set-up fee, but the user will not miss a payment and will not receive a payment reminder each month from the IRS because it is debited directly from their bank account. |
| EIGHT: GET FORMS AND PUBLICATIONS |
| All current and prior year federal tax forms, instructions and publications can be viewed, downloaded and printed at any time. Taxpayers can use the IRS’ new “Beta Search” tool to quickly search and download forms and instructions. |
| NINE: FIGURE THE RIGHT WITHHOLDING |
| With the assistance of the IRS “Withholding Calculator tool”, taxpayers can determine the appropriate amount of tax to have withheld from their earnings so as to avoid potential underpayment penalties and associated interest. Taxpayers can also use the website to complete and provide their employer with an updated Form W-4, Employee’s Withholding Allowance Certificate. |
| TEN: GET A TAX TRANSCRIPT |
| A tax transcript may be needed when applying for a loan or student financial aid if the taxpayer does not have a copy of their federal tax return on hand. The “Get Transcript” tool can be used to order a transcript online or by mail. Transcripts are generally available for the current year and three prior years. This is also helpful for taxpayers to reconcile their account with the IRS. |
The IRS website also offers many publications and online resources in English, Spanish, Chinese, Korean, Vietnamese and Russian. One of the most important documents available is the Taxpayer Bill of Rights which outlines taxpayer’s rights under the tax law. These multilingual online resources can be easily accessed on the top right-hand corner of www.irs.gov by clicking the “Language” tab. The IRS website is a very useful tool for taxpayer’s and a great way for taxpayer’s to get up to date tax information.
These are just a few of the valuable resources included on the IRS website as the IRS has really stepped up its game as a provider of information in recent years. Taxpayers should take full advantage of the website to gain useful knowledge and expertise in various tax related areas.
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The information contained herein is not necessarily all inclusive, does not constitute legal or any other advice, and should not be relied upon without first consulting with appropriate qualified professionals for your individual facts and circumstances.
