IRS Expands Business Tax Account Access and Features
IRS Expands Business Tax Account to S Corporations, Partnerships, and Adds Transcript Download Feature
The Internal Revenue Service is continuing its modernization efforts with the expansion of the Business Tax Account, a secure online tool for businesses to manage their tax obligations. This second phase of the rollout now includes individual partners of partnerships and individual shareholders of S corporations, in addition to existing access for sole proprietors.
Who is eligible?
- Individual partners of partnerships and individual S Corporation shareholders: You can now access the Business Tax Account once you’ve filed a business return with Schedule K-1 (processed by the IRS) for at least one year between 2019-2022. You’ll only see information for those years.
- Sole proprietors with an Employer Identification Number (EIN): If you file business returns under your EIN (e.g., payroll taxes, highway use tax), you’re eligible.
Transcript Download
Users can now download business tax transcripts in PDF format for various forms, depending on their entity type.
- For sole proprietors, this includes Forms: 940, 941, 943, 944, 945, 8752, 8288, 11-C, 730, 2290.
- For S corporations, this includes Forms: 940, 941, 943, 944, 945, 8752, 8288, 11-C, 730, 1120S, 2290.
- For partnerships, this includes Forms: 940, 941, 943, 944, 945, 1065, 8752, 8288, 8804, 11-C, 730, 2290.
Notice Viewing
Sole proprietors can now view select IRS notices within the account.
Benefits
The Business Tax Account aims to simplify tax management for businesses by:
Providing self-service options: Reducing the need to contact the IRS by phone or mail.
Improving access to information: Enabling convenient viewing of transcripts, notices, and account details.
Streamlining processes: Offering features like third-party authorization and online payment management in the future.
Future plans
The IRS aims to make the Business Tax Account a one-stop shop for businesses, offering features like:
- Viewing letters and notices
- Requesting tax transcripts
- Adding third-party representatives
- Storing bank account information for tax payments
Additional notes
- Sole proprietors without an EIN cannot currently access the Business Tax Account. They can use their individual IRS online account instead.
- New businesses need to file and process a return before partners and shareholders are able to gain access to their accounts.
Sign up and learn more
Visit IRS.gov/businessaccount to create your account or find more information.
Questions?
Kristin specializes in tax services, particularly for pass-through entities and complex individual matters. Her clients span industries like real estate, wholesaling, and professional services. Her approach goes beyond compliance, addressing clients’ pain points with a genuine care that ensures understanding, compliance, and strategic insights.