IRS Expands Business Tax Accounts

Business owners can access certain federal tax information if they set up a business tax account. The account can be used by a sole proprietor who files with an employer identification number (EIN) as well as a partner or S corporation shareholder with a Social Security number or individual tax identification number and a Schedule K-1 on file between 2019 and 2022. The IRS added the ability to view tax transcripts to the actions that can be done with a business tax account. #IdeaoftheDay