With the ongoing issues at the IRS, it's more vital than ever that the information reported to the IRS is complete and accurate. As we approach another filing season, we are looking to adopt new practices to promote this goal. In 2021, the IRS launched a new system that allows taxpayers to access information online. Therefore, we are recommending that all of our clients create an account as a means to provide us with accurate information for 2021 tax returns.
Here is what you'll have access to:
- Economic Impact Payment detail
- Record of estimated tax payments
- Amounts owed for past years
- Digital copies of IRS notices
- Payment plan details
Here is what you'll need to sign up:
- Email address
- Social Security Number (SSN) or Individual Tax Identification Number (ITIN)
- Tax filing status and mailing address**
- One financial account number linked to your name:
- Credit card
- Student loan
- Mortgage or home equity loan or
- Home equity line of credit (HELOC) or
- Auto loan
- Mobile phone linked to your name
For more information on creating an account, click here.
** Please note that if you're married filing jointly, both taxpayers need to create an account.