Taxpayers can register for a secure online account portal with the Internal Revenue Service using the below link.  Federal tax payments can be remitted via the portal.  In addition, taxpayers have access to prior year transcripts, records of all payment transactions and online tax notice correspondence. 

Some taxpayers qualify to file their non-complex federal and state income tax returns online at no charge using online guided tax software.  Please refer to these sites to determine if you qualify.

The IRS also provides free fillable forms allowing qualified taxpayers to directly prepare and e-file their returns.  Please note this resource does not rely on guided software.

Taxpayers with a financial interest, signature or other authority over a foreign bank account, must file a Foreign Bank Account Report (FBAR) if the combined balances of all foreign accounts owned is more than $10,000 U.S. dollars at any point in the calendar year. The FBAR is filed online on FINCEN Form 114 annually.  The deadline is April 15th, with an October 15th extension available. This form is separate from annual income tax return filing compliance and is not provided with Banks Mountain Financial’s tax preparation services.  Please refer to the these sites to determine if you qualify.

Taxpayers can use this online form to request an “EIN” directly from the IRS.  An EIN is required for separate tax entities, including trusts and estates.

Taxpayers must provide authorization for the acknowledgement and exchange of tax information.  Prospective clients should complete and sign the attached fillable form to allow former tax accountants or current financial advisors to provide Banks Mountain Financial with copies of prior year tax returns.  We will coordinate directly with the former accountant or advisor to obtain your prior year return once signed.  Once we have reviewed the documents, we will schedule a call to discuss any changes for the current year that may have tax implications, provide a fee quote for tax return preparation services and review our procedures.

In cases where Banks Mountain Financial works directly with your financial advisor, an additional Form 7216 will need to be signed to authorize the provision of current year tax documents, including Forms 1099 Consolidated Tax Statements and Schedule K-1s and allow for direct collaboration for tax planning and projection purposes.