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IRS Launches Online Payment and Transcript Services

November 11, 2014

Over the summer the IRS launched 2 new electronic services, “Direct Pay” and “Get Transcript”, to help expedite and simplify the processes. “Direct Pay” allows taxpayers to pay tax bills or make estimated tax payments. It also allows taxpayers to set up payments up to 30 days in advance and check the status of pending payments. “Get Transcript” allows taxpayers to obtain a record of their IRS account.

“Direct Pay”
Allows you to pay your individual tax bill or estimated tax payment directly from your checking or savings account at no cost. You will receive instant confirmation that your payment was submitted and your bank account information is not retained.

5 Steps:

1. Provide tax information
2. Verify your identity
3. Enter payment information
4. Review and electronically sign transaction
5. Print/Record your online confirmation number

“Get Transcript”
Allows you to view and print your transcript immediately or request it to be mailed to you. You can choose from Tax Return, Tax Account, Record of Account or Wage and Income transcripts. IRS transcripts are often needed to validate income and tax filing to mortgage applications, student and small business loans and during tax preparation (IRS, 2014).

6 Steps:

  1. Sign in as a guest or create a login (if you sign in as a guess you will have to reinput your info each time).
  2. Confirmation Code – When you sign in you provide your e-mail address, which will immediately be sent a confirmation code for your use.
  3. Input Personal Info (name, date of birth, address, social security number and filing status)
  4. Identity Verification Questions (i.e. mortgage interest questions, counties you have lived in the past etc.)
  5. Select reason for Transcript
  6. Select which type of transcript you want to view:
    1. Return Transcript
    2. Record Account Transcript
    3. Account Transcript
    4. Wage & Income Transcript

If you file your tax return electronically it will take about 3 weeks before the tax transcript will be available. If you mailed in a paper copy it takes about 6 weeks.

You will need the following information to verify your identity:
• Name
• Social Security Number (SSN) or Individual Tax ID Number (ITIN)
• Date of Birth
• Filing Status
• Mailing Address
• Third Party Verification Questions
• Valid Email Address

If you need additional guidance with “Direct Pay”, visit http://www.irs.gov/Payments/Direct-Pay-Help or for “Get Transcript”, visit http://www.irs.gov/Individuals/Get-Transcript-FAQs.

References
IRS. (2014, October 16). Get Transcript. Retrieved from Internal Revenue Service: http://www.irs.gov/Individuals/Get-Transcript

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