In the last few years, the IRS and Social Security Administration have created online tools for users to view information about what each agency collects and uses for individuals. While you can’t go as far as filing your tax return with the IRS, there are many benefits to using these services.
These accounts can provide useful tools to individual taxpayers. One reason to sign up for accounts with both agencies is to protect your personal information. The data stored on these sites can be valuable to identity thieves, and the best defense against someone else gaining access to this information is a good offense and creating the accounts for yourself and be sure to use Two-Factor Authentication. This is an important step towards securing your personal information.
Why sign up for an IRS account?
The View Your Tax Account login with the IRS provides users with payoff information for taxes owed to the IRS, the balance for each tax year, up to 18 months of payment history, and key information from the current tax year. You will also be able to set up electronic payments and go directly to Get Transcript.
The tools the IRS provide are still rather limited, for many individuals the direct access to view their taxes due is very valuable, and the IRS should add more tools at any time.
Why Create a Social Security Account?
The Social Security Administration processes about 240 million W-2s every year. Approximately 3%, or close to 7 million of these W-2s cannot be applied to the person’s record due to the name and social security number being mismatched.
How can you make sure you record is being credited correctly?
It’s simple, just go to the SSA site and create your personal online account. You will be able to view all the wages reported on your record using your Social Security Statement. If there are any discrepancies, the Social Security Administration will assist with getting them corrected.
It’s easy to create an account? First, you provide some personal information and the answers to some questions that only you are likely to know. Next, create a username and password and select how to receive a one-time security code. Once your account is created, you can Two-Factor Authentication to ensure your account is kept secure.
Don’t delay, create an account today and make sure you receive credit for all your hard-earned dollars.