The President’s Day is a holiday that forms part of the busiest times for IRS telephone lines. The wait can however be avoided as the IRS is equipped with easy options for taxpayers to find the answers they need. They can save time by visiting IRS.gov. Below are some of the most frequently asked questions by taxpayers about taxes 2014 and how answers can be quickly found.
Taxpayers always like to know the status of their refund. Most refunds are issued by the IRS in not more than 21 days. Status of a refund can be checked on the IRS.gov site or via the newly updated IRS2Go Smartphone app. to get the refund status; a taxpayer would need certain information from his or her tax return. The information is updated every day, so checking more often than that is not necessary.
Some individuals may have missed getting a Form W-2. Employers are supposed to send this form, which is a Statement of Earnings, to their employees by 31st January. If someone has not gotten it by mid-February, he or she should first contact the employer to ensure they have the correct address in their records. Once all options with an employer have been exhausted, one can contact the IRS and they will send the employer a letter. It is however advisable to call when the President’s week has ended to avoid the long phone waiting times.
A taxpayer may wonder if he or she can get a copy of their tax transcript or return. Such a copy can easily be ordered on the website, on the Smartphone app or by mailing a Form 4506-T to IRS. Others may wonder what happens if they cannot pay their Turbo Tax 2014 bill. If someone owes taxes but cannot pay, the Online Payment Agreement Tool can be used. The tool can help someone figure out if they are qualified for installment agreement with IRS in a few minutes. For those with more serious tax obligations, there is an Offer in Compromise Pre-Qualifier. It helps determine if someone qualifies for an IRS agreement in which his or her tax liability will be settled for an amount that is less than owed.
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