Back taxes can accumulate unexpectedly from time to time. You may be aware of a federal tax balance, but you might be wondering, “How much do I owe the IRS?” Don’t put it off any longer. We can assist you in determining how much you owe the IRS using one of four simple methods.
- Use the IRS’ Payment Portal
- Call the IRS
- Request an Account Transcript by Mail
- Get Us to Find Out For You!
Use the IRS’ Payment Portal
With the IRS’s payment portal, you’ll be able to see your payoff amount, the outstanding balance for each tax year that you owe, and up to 24 months of payment history. Your account balance will change no more than once every 24 hours and generally overnight. It’s completely free; all you have to do is sign up in order to access it.
Call the IRS
Another alternative is to call the IRS. During post-filing season, you may have to deal with a queue that lasts around 27 minutes on average. However, after you’ve been connected, an IRS representative should be able to tell you how much you owe and give you a run-down of your payments.
Request an Account Transcript from the IRS by Mail
Individuals who filed a Form 1040, 1040A, or 1040EZ can get an Account Transcript. This document will only cover one tax year and may not include any fines, interest, or additional expenses.
If you’re filling out another sort of form or are representing a company, you’ll need to submit Form 4506-T, Request for Tax Return Transcript. The IRS will send you a free transcript as soon as it receives and processes your 4506-T form.
NOTE: If your tax situation is time-sensitive, this may not be the route for you. You can avoid additional issues by using one of the other methods outlined above.
Have Us Do the Legwork For You
If you’re unsure of how much you owe the IRS, or if you would rather not spend the time on the phone waiting to speak with an agent, we can help you determine your balance. We have multiple methods that we can use to get you the information you need. Yes, you can literally start working with My Tax Settlement without knowing how much you owe!
Are you asking yourself “How much do I owe the IRS?” – We can help!
If you can’t answer the question “How much do I owe the IRS?”, give us a call and we’ll answer that question for you!