The Internal Revenue Services (IRS) website can be very useful for obtaining not only common tax-related information, but also for obtaining information regarding tax payments. Taxpayers can spend days searching for answers regarding certain tax queries, when they can easily find such information directly on the IRS website.
Here is a brief overview, prepared by AG Tax professionals, of many different ways the IRS website can be useful in clarifying tax doubts and obtaining answers for certain tax queries. However, if a tax situation requires instant action, it is best practice to contact your tax professional.
Benefits of IRS Website
Interactive Tax Assistant
The IRS website provides an online service called the ‘Interactive Tax Assistant’ which covers various tax topics; all that a taxpayer needs to do is type in their query or a particular word or form, and all information related to the particular form or query would be made available to the taxpayer. You can search the Interactive Tax Assistant here.
Access Tax Forms & Know Your Tax Rights
A taxpayer can search, view, and download various federal tax forms and other publications from the U.S. website. The IRS website also lists the various fundamental rights of a taxpayer which he/she can refer to in case the taxpayer has any doubts regarding this information.
(Read: Make Way for the U.S. Taxpayers’ Bill Of Rights, US Taxpayers Tax Rights)
File Tax Returns For Free
A taxpayer with income less than or equal to $62,000 can file their U.S. income tax return for free using IRS Free File.
Get Information on Various Acts
Through the IRS website, a taxpayer can obtain information regarding the different Acts passed or in proposal stage, and also access links to any bills that requires taxpayers’ opinions and comments.
Check Refund Status
The ‘Where’s My Refund?’ tool accessible through the IRS website is very useful in obtaining details about any expected tax refunds. Additionally, the IRS recently introduced the IRS2Go mobile application to access the refunds page and other IRS related information.
Make Tax Payments
A taxpayer can use the ‘IRS Direct Pay’ option to make tax payments through their savings account, their checking account, or through their credit card.
Check & Access Alternate Tax Payment Methods
Through the IRS website, a taxpayer can search for various alternate methods that they can consider to pay off their tax dues easily, and thereafter apply for the most suitable tax payment plan through the ‘IRS Online Payment Agreement’.
Verify the Authenticity of a Charity
These days various charitable organizations claim to be registered charities, providing taxpayers the opportunity to claim tax deductions for charitable contributions higher than the qualifying limits. With the help of the IRS website, a taxpayer can check the authenticity of a charitable organization as to whether it is an IRS qualified charity or not, and also confirm the allowed deduction limit for charity.
Use the IRS Calculator to Estimate Tax Withholding
A taxpayer can use the ‘IRS Withholding Calculator’ tool to calculate and figure out their tax so that the withholding is close to the actual tax liability rather than an amount which results in refunds or owing more taxes than expected.
Get a Tax Transcript
To obtain copy of a tax transcript, the taxpayer can use the ‘Get Transcript’ tool on the IRS website. Once the request has been made, the transcript will be in the taxpayer’s mail within 5 to 10 days. Keep this time limit in mind when making a transcript request.
These are some of the common purposes for which the IRS website can be used, and depending upon the situation, a taxpayer can also make other enquiries using the search option available on the IRS website. In case of doubts, one can further consult the IRS directly through a phone call or reach out to their tax return preparer if their issue is a complicated tax situation or that requires planning or immediate attention.
AG Tax LLP Can Help
If you have any tax-related queries or need assistance with tax planning or filing please contact AG Tax. Our tax professionals are highly-experienced with U.S. and Canadian tax laws and can provide you the right guidance to handle your tax situation.
Aylett Grant Tax LLP is a full service accounting firm with a dedicated team of experts, who are highly-qualified and experienced in handling situations related to U.S., Canada and other international tax laws.
We can assist with:
- Canadian Personal and corporate tax returns
- Cross Border Taxation and Business Planning
- U.S. Personal and Corporate Taxation
- Disclosure of Foreign Assets and other information filings
- Retirement planning
- Estate Planning, Inheritance tax advice
To obtain a quote or to arrange for a consultation to discuss your tax related queries, please contact us at:
- 416-238-5920 (Greater Toronto Area, ON)
- 604-538-8735 (Greater Vancouver Area, BC)
- 780-702-2732 (Greater Edmonton Area, AB)
Disclaimer: The information in this publication is accurate as of the time of its publication. AG Tax assumes no responsibility for changes to tax legislation subsequent to the publication of this document. The information provided is for general information purposes only and should not be acted upon without seeking professional advice. If you would like to engage our services, please contact our staff and obtain authorization to send our firm confidential information. A client relationship is not created by the transmission of information. A client relationship is only formed with our firm when a scope and engagement letter signed by the firm and the potential client detailing the terms of engagement is present.
