What Taxpayers Must Know About the IRS

The Internal Revenue Service also referred to as the IRS, is a federal government agency. Its main responsibilities are collecting taxes and enforcing tax laws. In some form or another, the Internal Revenue Service has been around since 1862.

Who is the head of the IRS?

The Commissioner is the chief executive of the Internal Revenue Service. Commissioners are appointed by the President of the United States and approved by the Senate.

What are the divisions of the IRS?

The IRS is organized into four divisions, each one with a different responsibility:

  •  Individual taxpayers
  • Small businesses
  • Mid- to large businesses
  • Nonprofits

What is the IRS’s main role?

The agency’s main role is to help the large majority of compliant taxpayers with the tax law and make certain those who challenge the law still pay their fair share.

Why is it helpful to be in touch with the IRS?

You can contact the IRS to find answers to questions about completing your tax returns, to check the status of your tax refund, to find out how to e-file your tax return, and to have any other tax-related question answered.

What are the best ways to get in touch with the IRS?

The IRS’s official website is www.irs.gov. There, you can find answers to frequently asked tax questions, changes in tax laws, forms and even a planning calculator.

You can also reach out to them by phone.1-800-829-3676 is the number to call for forms and instructions. 1-800-829-1040 answers your questions regarding your personal income taxes, and 1-877-777-4778 offers you a taxpayer advocate to help you with tax questions you have been unable to resolve.

You can also visit your local IRS office or send a letter to them.

It’s always a good idea to communicate with them sooner rather than later if you are facing difficulties paying your tax liability. Also, always file your taxes on time, you will help yourself avoid interest and penalties for unpaid taxes.

What are the dates for Quarterly Estimated Tax Payments?

Yearly taxes are due on April 15, but quarterly payment dates are:

  • April 15
  • June 15
  • September 15
  • January 15 of the following calendar year.

Does everyone need to file a tax return?

The answer to this question is no. To be required to file your total income for the year must exceed certain thresholds. The amount of income also depends on what type of income it is, your filing status and your age.

Here is one example that pertains to 2019: if your age is below 65 and you are filing single or married filing separately, you have to file an income tax return if your gross income is $12,200.

Consult the charts to see what threshold you all under.

What if you can’t pay your taxes?

Using the IRS website, you can either set up a monthly installment plan or, in case of financial hardship, you may be able to defer payments for a period of time. You may also opt for an offer-in-compromise to settle your taxes.

Despite what you might have heard, the IRS is not waiting around the corner to pounce on you. You can always reach IRS personnel to address your questions or specific needs.

If you would like to understand more about the IRS or you have a concern about your own returns or refund you can find more information here.

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