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Computers are a key component in most of today’s businesses. The Internal Revenue Service wants you to use that electronic connection to establish a Business Taxpayer Account (BTA). To attract even more business taxpayers, the online tax account recently got some upgrades.
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The Internal Revenue Service’s electronic expansion continues. The agency now is giving businesses that have online tax accounts more options.
Starting this week, Business Tax Account (BTA) features give eligible businesses and organizations more ways to view digital notices, make payments, and access and manage federal tax account information online.
Three years and growing: The IRS launched BTAs in October 2023. The initial phase allowed unincorporated sole proprietors with active Employer Identification Numbers (EINs) to establish accounts where they could view their business profile and manage authorized users.
The online self-service platform expanded quickly, especially compared to the usual pace of federal government activity. Since the BTA debut almost three years ago, the IRS has added numerous features to help business taxpayers manage their tax obligations online and reduce the need for paper-based processes.
Now, BTA owners can log in to view letters or notices, request tax transcripts, add third parties for power of attorney or tax information authorizations, schedule or cancel tax payments and store bank account information.
Newest BTA features: The latest BTA upgrades include the following additional online tax management options.
- Users now have access to an larger library of digital IRS notices. Recently added notices include, among others, CP081B, We May Have a Refund for You, CP211A, Application to file extension of time approved, and CP134R, Federal tax deposits discrepancy — Due a Refund.
- Designated officials can now download an EIN verification notice, Notice CP575, Notice of New Employer Identification Number, which can be used instead of Letter 147C, EIN Previously Assigned, at banks and financial institutions.
- Business account owners can view an existing payment plan’s balance and other details and make a payment toward that plan.
- Eligible taxpayers can also submit payments for an Offer in Compromise to settle tax debts for less than the full amount owed.
Existing BTA options: The latest upgrades join a the current BTA features. Those include, depending on the business type and taxpayer’s role in the company, the following.
- View and make payments toward a balance due using a bank account. This includes payments on a return filed for the current year, late payments for past tax years, and federal tax deposits.
- Schedule a payment for any business day up to one year in advance and cancel a scheduled payment.
- See recently processed payments, including payments made through the Electronic Federal Tax Payment System online, wire transfers, checks or money orders, and see whether any payments were returned or refused.
- Store multiple bank accounts in an online wallet to manage tax payments.
- Request a tax compliance check.
- Check the business name and address on file with the IRS.
- Give account access to eligible employees of the business.
- View and download transcripts for various payroll, income, and excise tax returns.
BTA eligibility: OK, you have a business and are ready to take its tax obligations online. Note, however, that the BTA option has some requirements.
BTA currently supports access for the following organizational types:
- A sole proprietor who has an IRS-issued EIN.
- An individual partner or individual shareholder with both —
- A Social Security number or an individual taxpayer identification number.
- A Schedule K-1 on file. For partners, this includes tax years 2012-2023. For shareholders, this includes tax years 2006-2023.
- S corporation.
- C corporation.
- Federal, state and local governments.
- Indian tribal governments.
- Tax-exempt organizations.
You can review more details about eligibility at IRS.gov’s Business Tax Account.
If your business or group doesn’t yet qualify for a BTA, be patient. The IRS says it is working on making the online business tax accounts available to more business entities and organizational structures, as well as enhancing the online self-service platform’s capabilities.
“Business Tax Account is a key part of the agency’s digital first initiative,” said IRS Chief Executive Officer Frank J. Bisignano. “By expanding online self-service options, BTA makes it easier for eligible businesses and organizations to manage their federal tax obligations securely and conveniently online without making a phone call or traveling to a physical office.”
That’s not just a win for the business taxpayer. It also should help the IRS, which is working under financial and personnel limits, do its job.
You also might find these items of interest:
- Being the boss tax basics
- IRS has updated its online EIN application tool
- Avoid IRS phone help delays by using your IRS individual taxpayer account
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