The New and Improved Business Tax Account: Making Things Easier for Business Owners

The IRS has introduced new features in its online self-service tool called the Business Tax Account (BTA).

Launched as part of their commitment to service improvement under the Inflation Reduction Act, the new BTA features make tax management easier for both businesses and tax professionals.

What’s the Big Deal?

The BTA brings together several services under one roof.

No more slogging through multiple platforms to get everything done.

You can view your tax history, make payments, authorize powers of attorney, and more. Plus, you can now pay federal tax deposits and view your full balance due directly through the BTA.

Why is This Important?

You previously had to go to multiple websites to handle all of this and it was a huge pain.

Making payments, viewing balances, and keeping track of tax history required accessing multiple services, often leading to a huge waste of time and a pain in the ass.

Consolidating these operations helps business owners streamline taxes and save time.

It provides a clearer view of your business's taxes and where it stands and makes it easier to keep everything in order.

It takes a huge load off of your shoulders.

Who Has Access?

Not everybody.

Business taxpayers who have access to the IRS business tax account only include the following:

• Sole proprietors with an employer identification number (EIN), and

• An individual partner or individual shareholder with both:

- A Social Security number or an individual tax ID number (ITIN) and

- A Schedule K-1 on file (for partners or shareholders.

Currently, a limited liability company that reports business income on a Schedule C can’t access the BTA system.

But allegedly future access will be available for these businesses as well as other entities, including tax-exempt organizations, government agencies, partnerships, C corporations, and S corporations.

So pull up your online BTA if you’re eligible, start exploring its features, and see how it can improve your tax management processes.

Don't mess around with business taxes.

Make things as easy on yourself as possible.

Let's Talk About It.

Do you think this development will ease the burden of tax management or do you rely on a third party and never think about this stuff anyway?