The IRS has launched the first phase of the business tax account, enabling unincorporated sole proprietors who have an active Employer Identification Number to set up an account, view their business profile and manage authorized users. Over time, the business tax account will allow business taxpayers to check their tax payment history, make payments, view notices, authorize powers of attorney and conduct other business with the IRS.
Future improvements will allow taxpayers to use their business tax accounts 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. Revisit this news release for more about the business tax account and other initiatives underway to improve taxpayer service and modernize technology using Inflation Reduction Act funding.
