Form W-2s Added to Individual Online Accounts
The IRS announced that it has enhanced its Individual Online Account tool by adding access to key tax documents, including Form W-2, Wage and Tax Statement, and Form 1095-A, Health Insurance Marketplace Statement, for tax years 2023 and 2024. However, one key limitation remains: state tax information is not yet available on Form W-2s in the account.
By making these documents easily accessible online, the IRS hopes to improve efficiency and accuracy in tax filings. Taxpayers can quickly obtain the information needed for their returns, minimizing errors caused by missing or incorrect forms. Additionally, this digital option provides a secure and convenient alternative to handling physical paperwork, helping to prevent identity theft and lost documents.
For tax professionals, this update means clients can access their documents more efficiently, leading to smoother and more timely tax preparation. The IRS plans to add more information return documents to Individual Online Account in the coming months. These enhancements represent a significant step toward modernizing tax administration and improving taxpayer convenience.
Need help accessing your tax documents or understanding their implications for your filing? Contact Frost Law today at (202) 618-1873 for assistance with your tax preparation.
