balance due

IRS Launches ‘Balance Due’ Online Tool

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By Tax News

irs-launches-balance-due

The Internal Revenue Service (IRS) has announced the launch of an online application that will assist US taxpayers with tax account balance inquiries.

The new and secure tool, available on the IRS website, allows taxpayers to view their IRS account balance, which will include the amount they owe in tax, penalties, and interest. Taxpayers can take advantage of the various online payment options available.

“This new tool is part of the IRS’s commitment to improve and expand taxpayer services by providing additional online taxpayer options,” said IRS Commissioner John Koskinen. “The new ‘balance due’ feature, paired with the existing online payment options, will increase the availability of self-service interactions with the IRS. This will give taxpayers another way to take care of their tax obligations in a fast and secure manner.”

Before accessing the tool, taxpayers must authenticate their identities through the Secure Access process. This is a two-step authentication process, which means returning users must have their credentials (username and password), plus a security code sent as a text to their mobile phones.

Paul S. Herman CPA, a tax expert for individuals and businesses, is the founder of Herman & Company, CPA’s PC in White Plains, New York.  He provides guidance and strategies to improve clients’ financial well-being.

Any U.S. tax advice contained in the body of this website is not intended or written to be used, and cannot be used, by the recipient for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions.