I can’t emphasize enough what a great announcement this is. Gone are the days of paper forms and endless phone calls when managing your business taxes. Enter the IRS Business Tax Account – your one-stop shop for streamlined tax information and simplified operations. Whether you're a seasoned entrepreneur or just starting out, this valuable tool can be a game-changer for you and your business.
Previously, there was no centralized-location to view items related to business taxes like there are for individuals.
What is a Business Tax Account?
Simply put, it's your secure online portal to all things tax-related for your business. Think of it as your IRS headquarters, accessible anytime, anywhere. With just a few clicks, you can:
View your balance: Know exactly what you owe and avoid any nasty surprises down the road.
Access tax records: Stay organized and on top of your filings with a complete history of your tax activities.
Download transcripts: Quickly and easily obtain official copies of your tax returns for loan applications, recordkeeping, or any other need.
Make payments: Skip the hassle of checks and postage – securely remit your taxes directly through the platform.
Manage communication preferences: Go paperless and receive important notifications electronically, saving you time and paper (eco-friendly bonus!).
Track upcoming deadlines: Stay ahead of the curve with automatic reminders for key tax dates.
Grant access to your tax professional: Collaborate seamlessly with your accountant or CPA by authorizing them to view and manage your account information.
The first phase of this offering has been made available to sole proprietors who have an EIN number - and accounts are able to be created at the IRS’s website here. If you’re a sole proprietor with an EIN, I HIGHLY recommend getting an account set up.
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