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How Much Do I Owe the IRS? 4 Ways to Find Out

July 26, 2019

Wondering, "How Do I Find Out How Much I Owe the IRS?" Take Action and Find Out Today.

You may know you have a federal tax balance but still wonder, “How much do I owe the IRS?” Use one of these four easy methods to find out.

Check for these five qualities to make sure your tax pro is qualified and the best for you.

No one wants to owe the Internal Revenue Service. Ideally, you’d pay the exact right amount of income taxes and be on your way without a second thought. Or maybe you’d just end up with a surprising but welcome tax refund once you file. But that’s not always what happens.

Sometimes, an unexpected amount of back taxes can pile up. You may know you have a federal tax balance but still wonder, “How much do I owe the IRS?” Don’t wait for those scary IRS notices to find out. We can help you figure it out, using one of four easy methods.

Use the IRS Online Portal to find out how much you owe.

1. Use the IRS’s handy online system

Back in Dec. 2016, the IRS released an online tool for taxpayers. This tool acts as a portal for you to view your account with the IRS. You’ll be able to see your payoff amount, the balance for each tax year that you owe, and up to 24 months of payment history. Your account balance will update no more than once every 24 hours and usually overnight. It’s completely free; all you need to do is register to access your account.

However, there are two catches to using this tool.

The first is that you can only access it during certain times.

  • Monday 6:00 a.m. to Saturday 9:00 p.m. ET
  • Sunday from 10:00 a.m. to midnight ET

The tool occasionally goes offline during additional hours to allow for maintenance.

The second catch is that you must provide specific information to gain access to the tool, including:

  • Social security number or Individual Tax Identification Number
  • Date of birth
  • Filing status
  • Mailing address from your last tax return
  • An email address
  • A mobile phone
  • An account number from a financial account, which could be:
    • Credit Card
    • Student Loan
    • Mortgage or Home Equity Loan
    • Home Equity Line of Credit
    • Auto Loan

This information is meant to verify your identity, but it can be a pain to rustle it all together.

The IRS will also pull a credit report with this information to ensure you are who you say you are. But this is a soft inquiry, so it won’t impact your credit score and lenders won’t be able to see it.

If you decide to register and use the online portal, you can even use it to pay your taxes online. It’ll take one to three weeks for your payments to show up in the Payment History page.

Call the IRS to inquire about your tax liability.

2. Pick up the phone and call the IRS

Not a big fan of using online tools to deal with your federal taxes? Don’t have all the info you need to access the online service? Don’t worry, you’ve got other options.

Your first option is to give the IRS a call. You may have to deal with a wait time, which averages about 27 minutes during post-filing season. But once you’re connected, a representative from the IRS should be able to tell you how much you owe.

Our suggestion: Call as early in the day as possible to prevent longer hold times.

If you’re an individual taxpayer looking into your balance, you can call the IRS at 1-800-829-1040 between 7:00 a.m. and 7 p.m. local time.

Representing a business? Call the IRS at 1-800-829-4933 instead between 7:00 a.m. to 7:00 p.m. local time.

Mail the IRS a form to request your tax transcript.

3. Fill out a form and drop it in the mail

Another option outside of the online portal is to contact the IRS by sending a form through snail mail.

While this is a viable option for any taxpayer, keep in mind that it will take much longer due to the nature of mail. And if you do owe, penalties and interest will continue to accrue while you wait for a response.

You’ll also want to make sure the IRS has your current address. If they don’t, they’ll send their response (and any other notices) to the most recent address they have on file, which may not be your current one.

Individual taxpayers who filed a Form 1040, 1040A, or 1040EZ can request an Account Transcript. This transcript will only cover a single tax year and might not include any tax penalties, interest, or additional charges.

If you filed another type of form or are representing a business, you’ll need to submit Form 4506-T, Request for Transcript of Tax Return. Once the IRS receives and processes your 4506-T form, they will send you a free transcript.

Contact a tax debt relief professional who can find out how much you owe.

4. Consult tax debt relief professionals who can figure it out for you

The last option may be the easiest and most hands-free answer to the question, “How much do I owe the IRS?” No need for an online portal, a phone call, or a form in the mail. Instead, you can have someone do that leg work for you.

Tax debt professionals (like CPAs, tax attorneys, and EAs) can work with the IRS on your behalf to find out exactly how much your tax liability is. All you’ll need to do is give them the information they need and kick back while they deal with the IRS for you. And once they find out how much you owe, they can offer you customized solutions.

What to do if you owe the IRS but can’t pay

Once you figure out how much you owe the IRS, your next step is to figure out what to do about it.

If you have money in your bank account to cover your balance, it’s as easy as just paying that payoff amount to the IRS.

But what do you do if you don’t have the money to pay your taxes owed?

The IRS isn’t blind to this problem. They offer solutions for cases like this, which include an installment agreement and Offer in Compromise. Not everyone qualifies for each solution though, so it’s important to find an available option that can offer you some relief.

If you went with the tax debt relief expert route, they’ll be able to walk you through the options available to you and what they would suggest for your unique situation. Our tax pros will even do the heavy lifting to set up a tax resolution that works for you, whether it be a payment plan or an appeal.

If you need back taxes help, reach out for assistance before the tax debt storm comes your way. Liens and garnishment loom on the horizon until you take action to deal with your tax liability. Remember, our tax professionals are only a phone call away.

How Much Do I Owe the IRS: Infographic

Owe the IRS and Can’t Pay? Why You Need Tax Relief Help

May 9, 2019

Struggling with your IRS bill? Tax relief help might be just what you need.

The sooner you tackle your tax debt, the better. Tax relief help can help you get the best possible outcome.

Check for these five qualities to make sure your tax pro is qualified and the best for you.

By now, your taxes have hopefully been filed. You may have come out of 2018 without owing the IRS (or even getting a refund). However, there’s a big chance you instead found yourself with a tax bill you aren’t able to pay. If that’s the case, don’t be too hard on yourself. Many people found themselves in this position due to a withholding mistake (thanks, recent tax reform!) Getting bogged down in frustration and fear of an unmanageable tax bill won’t help now. Instead, read on to determine if tax relief help is your best bet to focus on a brighter tax future.

You don’t have the money to settle your bill and can’t see how you ever will.

You’re feeling hopeless. Maybe your current balance with the IRS is more money than you’ve ever seen in your bank account at any given time. Or perhaps you just mortgaged a house or leased a car, and you’re concerned about what this tax bill could mean for you. Whatever financial pickle you find yourself in, the fact remains: there’s no way you can just make one easy payment to clear up this tax debt.

Tax relief help experts like ours have been around the IRS block and have seen all sorts of financial situations. They’ll take the time to learn everything important about your unique circumstance. Then, they will be able to walk you through your options to find a route out of tax debt that works for you.

You don’t know how to deal with the IRS.

Imagine the headache you’d have if you went to make that dreaded IRS call. You immediately face droning hold music. With every staticky chord, your anticipation gets worse and worse. Even if you get a pleasant IRS rep, you’re still ultimately getting ready to have a conversation with someone whose main goal is to get what you owe the government.

Okay, we’re sorry we asked you to imagine that. Instead, just imagine the headache you wouldn’t have if you had a professional working with the IRS on your behalf.

Experience is key when it comes to IRS dealings and we’ve got plenty of it. Our team has a collective 250 years of experience in tax relief help. We know what questions the IRS will ask before they ask them. And we can help minimize long delays caused by submitting unnecessary information or payment requests that we know they won’t accept. Working with the IRS is our specialty, so it doesn’t have to be yours! 

You want to keep the tax relief damage to a minimum.

The worst part about tax debt isn’t the notices that the IRS will send you nonstop or even the anger you might feel for being in this situation. There are far more serious consequences ahead. From levies against your property or wages to penalties and interest that bury you in even more debt, the IRS can be unrelenting when it comes to trying to recoup what they’re due. And trust us, they can take things up a notch if they feel like you’re not paying attention.

The good news is that the sooner you tackle your tax debt, the better. By seeking tax relief help, you’ll ensure that there is a tax pro with experience and passion dedicated to working with the IRS to get you the best possible outcome.

If any of the above applies to you, tax relief help may be right for you – but be wary.

Tax relief help can really change your life. However, you’ll want to be careful. There are tax relief companies out there that will scam you out of your money and leave you in a worse situation.

Make sure any tax debt relief company you decide to work with is transparent. They should be open about their pricing and what you can expect from them. Most honest tax debt relief companies will offer a free consultation to gain a better understanding of your current situation before discussing what relief options are available to you. They won’t promise you solutions like tax debt forgiveness without knowing the full picture. Feel free to ask about their experience and expertise to ensure you’re getting seasoned professionals on your side.

We’ve helped resolve about 17 billion dollars in tax debt in the decade we’ve been in business. Our tax experts have a wide range of professional accreditations and are always ready to provide you with top-rated tax relief help. Contact us for your free initial consultation to take that first step towards freedom from tax debt.

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