IRS Highlights New Business Tax Account Features, FS-2024-27

The IRS announced that it is continuing to expand the features within Business Tax Account (BTA), an online self-service tool for business taxpayers that now allows them to view and make balance-due payments. BTA is a key part of the agency’s service improvement initiative funded under the Inflation Reduction Act (IRA). When fully developed, BTA will allow many types of business taxpayers to check their tax history, make payments, view notices, authorize powers of attorney and conduct other business with the IRS.

Further, with the latest expansion, an eligible business taxpayer can now use BTA to pay Federal Tax Deposits (FTDs) and see and make a payment on their full balance due – all in one place. The account is also now accessible in Spanish with more translations planned. Business taxpayers who can activate and use their IRS business tax account include:

• A sole proprietor who has an Employer Identification Number (EIN) issued by the IRS.
• An individual partner or individual shareholder with both (1) a Social Security number or an individual tax ID number (ITIN), and (2) a Schedule K-1 on file.

Additionally, the IRS highlighted that within the BTA, taxpayers can now, among other things, view and make a payment toward a balance due by using a bank account, schedule a payment for any business day for up to a year and cancel a scheduled payment, store multiple bank accounts in their online “wallet” to manage tax payments, and request a tax compliance check.