In this Article we are learning How to find out How Much you Owe in Internal Revenue Service i.e IRS Back Taxes.
Paying taxes on time can save you from really difficult and unwelcoming situations. That’s why it’s better to stay on top of your taxes and stay always prepared. If you become successful in paying taxes every month then you can expect a little bit of tax refund instead of paying back taxes. Again, it all depends on you how vigilant you are.
If you have piled up IRS back taxes due to some financial issues then don’t wait for the IRS notices. It’s better to find out how much you owe to the IRS before the IRS sends you threatening notices. This staying up to the game will help you to figure out how to pay the particular amount to the IRS. Is there any other way the IRS can relieve you of those penalties?
Therefore, you can contact Coast One Tax Group or any other reliable tax agency to know your back taxes. You can contact IRS officials as well but they don’t respond instantly. That’s why we have brought you the quick ways which help you to find out about back taxes.
Ways To Find Out Your IRS Back Taxes
You can find out how much you owe in total penalties to the IRS Back Taxes through the following ways.
1. Use IRS Online Platform
For the convenience of tax payers and making the taxing system digital, IRS introduced the tax portal for citizens in 2016. This portal gives you information about your penalties, taxes which are not cleared yet, and your two years payment history to the IRS. This platform is free and shows you updated results after 24 hours.
To know about your tax details, you need to register on this online platform. To get registered online you need to provide the following information on the platform.
- Individual Tax Identification Number (ITIN) or Social Security Number
- Year of birth
- Status of the filing
- Your most recent tax return’s mailing address
- An email address
- A cell phone
An account number from a bank account, for example:
- Credit Card
- Student Loan
- Home equity loan or mortgage
- Line of Credit for Home Equity
- Loan for a Vehicle
This private information is required to verify your identity. With these details, the IRS will also pull your credit history to verify you. However, because this is a gentle inquiry, it will have no effect on your credit record and creditors will not be able to see anything.
Moreover, once you register, you can also use the platform to pay your taxes online. After one to three weeks, the payment history page will be updated and show your recent transactions.
2. Contact IRS Through Phone
If you are not a tech expert or don’t have proper information to get registered on the online portal, then worry not. You can still know about your back taxes. All you need to do is to make a contact with the IRS officials through a phone call.
You can call the IRS at 1-800-829-1040 between 7:00 a.m. and 7 p.m. local time. During the call, you may have to wait an average of 27 minutes until you get connected to the IRS representative. The representative will ask you a few details and then tell you about your back taxes.
Moreover, to avoid the longer wait time, it is suggested to call as early as possible.
3. Send Mail To The IRS
To find out How much you are oweing in IRS Back Taxes, you can send mail to the IRS. Another method to know about your back taxes is sending a mail to the IRS, asking about your taxes. You need to file a Form 1040, 1040A, or 1040EZ. Once filed, then you can ask for an Account Receipt from the IRS. This transcript will only cover one year tax and may not contain any extra taxes, interest, or other fees.
Form 4506-T, Request for Transcript of Tax Return, is required if you submitted another sort of form or if you are representing a business. The IRS will provide you a complimentary transcript once they receive and process your 4506-T form.
Moreover, you should know that getting information about your back taxes through sending mail will be a delayed process. The IRS takes longer to respond to any mail request. So, if you are under back taxes which are not paid then you may gather more back taxes due to late payments and overdues.
Also, double-check that the IRS is sending the required transcript to the correct address. The IRS typically sends responses to the most recent address on file. If it is not your address, you will not be able to receive your transcript, which will cause problems in the future.
4. Contact Tax Agency
If you are busy and don’t have time to know about your back taxes then you can simply contact a tax professional and hand over all of your tax problems to them. These professionals can communicate with the IRS on your account to determine the exact amount of your tax payable. All you have to do is provide them with the information they require and relax while they negotiate with the IRS on your behalf. They can also offer you personalized alternatives for IRS back taxes help once they know how much you owe.
Hence, once you know all of your IRS back taxes, now it’s time to prepare for paying back these taxes. It’s better to pay back on time and save yourself from penalties.
