IRS News Release: Second Phase of Online Self-Service Tool for Businesses Expanding Business Tax Account capabilities, Eligible Entity Types

The IRS announced the launch of the second phase of a new online self-service tool for businesses that expands the business tax account capabilities and eligible entity types. Individual partners of partnerships and individual shareholders of S corporation businesses are now eligible for a business account in addition to sole proprietors. This phase of the new account also adds new features, including the ability to view business tax transcripts. [IRS News Release IR-2023-243 (Dec. 18, 2023)]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.