IRS Business Tax Account Program Opens to C Corporations

The IRS’s Business Tax Account (BTA) program is now available to C corporations. The IRS also explained that a person who can legally bind the corporation, known as a Designated Official (DO), can now access BTA on behalf of their S corporation or C corporation. New features also include tax return, tax account and entity transcripts for the current tax year and some previous tax years, with some transcripts now available in Spanish. DOs can now view and pay their corporation’s tax balances and make Federal Tax Deposits (FTDs). In addition, DOs and sole proprietors can now use BTA to approve or reject a tax transcript authorization request through the IRS Income Verification Express Service (IVES), which allows lenders (only with taxpayer permission) to access a taxpayer’s tax records to verify its income. Business taxpayers could already use BTA to access tax information, download tax transcripts, and make payments and deposits.