Certified Public Accountants 

Call Us:  440-926-9300

A Firm that Cares About its Clients.  Large Enough to Know, Small Enough to Care...

Why Should Taxpayers Set Up an IRS Account?

 
The Internal Revenue Service (IRS) has a feature where individuals can access their IRS account through its' website. Individuals can access copies of their tax returns, history of estimated tax payments, copies of IRS notices, a method to pay quarterly tax estimate payments, and balances due on the current, and prior-year tax returns. There’s a safe and easy way for individual taxpayers to view specific details about their federal tax account, and it only takes a few minutes to set up.

Because of two recent developments, access to your IRS account has become more important than ever. In 2021, advance payments of Child Tax Credits and the third economic stimulus payments are required to prepare your 2021 tax return. The amounts received reduce the tax credit on your tax return.

New Authorization Feature
The new “authorization” option (or previously known as Power of Attorney) in the 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.

If making payments online, the 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.

To log in or set up an IRS account, go to https://www.irs.gov/payments/view-your-tax-account.

 
IRS.GOV updated 8/26/2021
https://www.irs.gov/newsroom/heres-why-taxpayers-should-have-an-irs-online-account

Industries We Serve