SETTING UP YOUR IRS ONLINE ACCOUNT

If you have recently moved, changed jobs, think you might otherwise miss some important tax forms, or worse, if you have received a pesky IRS notice regarding an issue on your tax return, you are in luck!  The IRS has an online portal where you can access your wage and income transcripts, tax return data, and other helpful tax information.

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Here is the link to the IRS webpage to start creating your IRS online account.

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Creating your account requires several verification steps and may take 15-30 minutes.  This is a helpful exercise for all taxpayers, but may be particularly useful if you have a lot of "moving parts" in your tax situation.

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Transcripts are helpful in verifying the completeness of your tax documentation, and provides you with insight into all tax forms reported to you or your spouse's tax ID numbers for a particular year.  The majority of IRS notices our clients receive are not related to larger or more obvious sources of income, but the nominal and more easily-forgotten accounts like HSA distributions related to a previous job, or investment statements from an account you closed.

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Please be advised that your wage and income transcripts are updated only after your employers, brokerage houses, and business investments file your W-2s, 1099s, and K-1s with the IRS.  For instance, if you were to view your transcripts in early January, they may be blank, but if you re-run them in March, you'd likely see more data.

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If you do receive an IRS notice, please let us know and we are happy to review and assist.