With tax season coming up in 2024, it’s a good idea to get started early by making an online account with the IRS.
IRS funding account. (Photo: Oregon Public Broadcasting)
According to a CNET report, this account helps you quickly check important tax information, like how much you made and paid in taxes. To set it up, you’ll need an email, address, ID like a passport or driver’s license, a Social Security number, and a phone. The account not only makes filing easier but also lets you pay taxes online and get notices digitally. There’s an extra security feature called an Identity Protection PIN that you can get too. They used to use face recognition, but now they’re offering video chat as an alternative.
For businesses, the IRS has online accounts too, but right now, it’s mainly for sole proprietors or partners/shareholders with certain documents. More support for different businesses is coming soon. If you have a business account, you can pay taxes online.
As the year ends, it’s also a good time to think about your finances for next year’s taxes. Planning ahead and making some changes before December 31st could help you get a bigger tax refund in 2024.
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