The IRS announced earlier this week that it is further expanding the capabilities of its online self-service tool for businesses, which was launched last October as part of the agency’s Service Improvement Initiative and funded by the Inflation Reduction Act.

Once the Business Tax Account (BTA) is fully developed, many types of business taxpayers will be able to review their tax history, make payments, view notices, issue powers of attorney, and conduct other business with the IRS.

With the latest expansion, an eligible business taxpayer can now use BTA to make federal tax deposits and view and pay their entire balance due – all in one place. BTA is now available in Spanish, with more translations planned.

Who can use BTA now?

Corporate taxpayers who can activate and use their IRS corporate tax account include:

• A sole proprietor who has an Employer Identification Number (EIN) issued by the IRS.
• A single partner or single shareholder with both:
  • A social security number or an individual taxpayer identification number (ITIN).
  • An existing Schedule K-1 (for partners from 2012–2023; for shareholders from 2006–2023).

According to the IRS, a limited liability company that reports business income on a Schedule C does not currently have access to BTA. In the future, access will be available to these entities as well as other entities, including tax-exempt organizations, government agencies, partnerships, C corporations and S corporations.

What can trade tax payers do now?

Within the BTA, corporate taxpayers can now:

• View an outstanding balance and make a payment from a bank account. This includes payments for a tax return filed for the current year, as well as late payments for past tax years and federal tax deposits.
• Schedule a payment for any business day for up to one year and cancel a scheduled payment.
• View recently processed payments, including payments made online through the Electronic Federal Tax Payment System (EFTPS), as well as electronic transfers, checks or money orders, and see if any payments were returned or declined.
• Store multiple bank accounts in your online wallet to manage tax payments.
• Request a tax compliance audit.
• Look at the company name and address in the file.
• Give company employees account access.
• Register for clean energy credits (if you are eligible).
• View and download transcripts of various payroll, income and excise tax returns.
• Sole proprietors can now download corporate transcripts from their BTA account. The transcript shows corporate information such as business name, mailing address, location address and more for the EIN on file.
• View and download selected digital tax notices, including:
  • CP080: Reminder – We have not received your return, there may be credits on your account.
  • CP136: Annual Notice of Requirements for Deposit of Federal Taxes (Forms: 941, 941-SS).
  • CP216F: Request for Extension of Time to File Employee Plan Statement – ​​Approved.

“Future features made available through Inflation Reduction Act funds will provide access to all businesses and organizations and help make the Business Tax Account a robust online self-service tool,” the IRS said on Aug. 19.

To set up a new business tax account or for more information, visit Business Tax Account.