As the April 15th tax deadline approaches, individuals and businesses are gearing up to file their taxes. With tax season in full swing, it’s time to discuss the challenges we face when filing our returns and how we can make the whole process smoother. Let’s dive into what the IRS is doing to help us and how we can work together to overcome the hurdles.

Have you ever waited for hours on the IRS hotline only to get a late response or no response at all? Unfortunately, this has been a common issue in recent years. While the IRS has been working to improve, there’s still much work to be done to ensure that we all receive the assistance we need.

Implementing a more efficient and accessible customer service system, with enhanced online options and faster support for inquiries.

Providing clearer and easier-to-understand resources on the IRS website, including blog tutorials and step-by-step form guides.

Have you ever submitted your return and then waited for weeks without knowing if it was received or processed? You’re not alone. While the IRS has been making improvements, they still face challenges in processing tax returns on time and responding to our inquiries promptly.

Hiring more staff and utilizing advanced technology to streamline return processing and reduce wait times.

Providing real-time updates on the status of returns through the IRS’s online platform by your IRS Account.

Are you worried about being audited? While less common for most of us, high-income tax audits have had their own challenges. It’s important for the IRS to address these issues to ensure that we are all treated fairly and equitably.

Providing additional training to audit staff to effectively handle high-income returns and ensure a fair review.

Utilizing advanced analytics tools to identify potential non-compliance more efficiently and accurately.

Sole proprietors, such as freelancers, social media influencers, and self-employed business workers, often underreport their income.

Even when they strive to report their income accurately, these workers may face challenges, partly because the IRS does not allow taxes to be withheld from their paycheck. Instead, they may need to pay their taxes quarterly, which can be confusing and time-consuming.

Without tax withholding, some sole proprietors must pay quarterly estimated taxes. This can be daunting for those unfamiliar with the process. To alleviate these difficulties, the IRS could provide clearer guidance and resources tailored to the unique needs of sole proprietors.

Filing season
(January – April)

Wait times can average 4 minutes. Some phone lines may have longer wait times. Wait times are longer on Mondays and Tuesdays, during Presidents Day weekend and around the April tax filing deadline.

Post-filing season
(May – December)

Wait times can average 11 minutes. Some phone lines may have longer wait times. Wait times are shorter Wednesday through Friday.

The help lines are open Monday through Friday. Residents of Alaska and Hawaii should follow Pacific time. Phone lines in Puerto Rico are open from 8 a.m. to 8 p.m. local time.

An IRS account allows you to keep a clear and organized record 👽of your tax transactions. You can find 5 years of payment history, including estimated tax payments and pending or scheduled payments and view the amount you owe and the breakdown by tax year .

IRS transcripts are highly regarded and widely used to verify prior income and marital status for tax filings, mortgage and loan applications. They are also immensely helpful in tax preparation. IRS transcripts are the most effective way to document any fraudulent activity. 

This service is only for 👩🏻individuals👨🏻‍🦱to obtain their own transcripts for personal purposes. The use of the system by other entities is prohibited. Never share your username or password.

Any individual with a tax obligation to the IRS can open an account with them. This includes U.S. citizens, permanent residents, and foreigners with income generated in the United States who need to file tax returns and fulfill their tax responsibilities.If you have a J1 visa, you are not the exception, you can also create your account.

The types of IRS transcripts include:

🟣Wage and Income Transcript: Displays data from information returns we receive, such as Forms W-2, 1098, 1099, and 5498.

🟣Tax Return Transcript: Provides information about the filed tax return, including income, deductions, and claimed credits. Displays most of the items from your original tax return on Forms 1040 as it was originally filed, along with all schedules and attachments.

🟣Tax Account Transcript: Shows basic data such as filing status, taxable income, and payment types. It also displays any changes made after the original tax return was filed gives details about tax payments, penalties, and adjustments made to the account.

🟣Record of Account Transcript: Combines information from the tax return transcript and account transcript.

🟣Verification of Nonfiling Letter: Confirms that the taxpayer did not file a tax return for a specific year. This letter indicates that the IRS does not have a record of a processed Form 1040 tax return for the date of the request. It does not indicate whether you have a filing requirement for that year. This letter is available after June 15 of the current tax year or at any time for the three previous tax years.

It means that the information has not been transferred to the transcript yet. Please check again in late May.

Remember that having an IRS account is a valuable tool to ensure efficient and secure handling of your tax matters. Don’t wait any longer open your IRS account now to take advantage of all these benefits!

Do you have any questions or comments? Let us know, and we’ll be happy to assist you!