How Much Do You Owe the IRS? Here’s How to Check

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You’re convinced that you’re behind on your taxes, but not sure what you owe. While any back taxes should be cause for concern, the urgency of the matter can vary drastically based on how much you owe. Thankfully, this doesn’t have to be a mystery; the IRS provides plenty of opportunities to determine what you owe—and how to pay up.

Viewing Your Account Online

The IRS allows taxpayers to register for and use an online system. This useful tool displays payment history for the past 24 months, as well as the current balance owed for each tax year. Balances typically update every 24 hours. With the IRS online tool, you can also make payments or establish a payment plan.

Account Transcripts

If, as an individual taxpayer, you filed Form 1040, 1040A, or 1040EZ, you can request an IRS account transcript. These transcripts are only intended to cover a single tax year. They might not include the latest interest or penalties charged to your account.

If you didn’t file Form 1040, your best bet for obtaining a transcript involves Form 4506-T: Request for Transcript of Tax Return. This document is especially common among business owners hoping to gain a better sense of current tax obligations.

Calling the IRS Directly

If you don’t have internet access, you may be able to determine your balance by calling the IRS directly at 1-800-829-1040. Keep in mind that the IRS receives a high volume of calls, so you may wait quite a while before actually speaking with a representative. When possible, checking your account over the internet is preferable.

Still not sure what you owe the IRS or how you can get a handle on your tax situation? There’s no need to go it alone; look to an enrolled agent at Highland Tax Resolution for assistance. Call us immediately at 720-398-6088 to determine what you owe.