IRS Provides Limited Value to Sole Proprietors
IRS Provides Limited Value to Sole Proprietors
The IRS has a new Business Tax Account for sole proprietors. Currently there is not much you can access there, but they will add more features soon.
The IRS announced last week their new Business Tax Account online service. This is only for sole proprietors and will allow them in the future to access certain tax information such as Form 941s, 943s, 940s, etc.
The only services that are offered currently are:
View your name and address on file,
Give others in your company access to the account,
Request a tax check to see if your business is compliant.
As you can see it is very limited. However, more features are expected soon. We would expect that you should be able to view copies of returns that have been filed using your EIN and be able to respond to certain notices using this account. However, that is not verified yet.
You likely will not see your Schedule C or F information since that is filed with your personal return, etc.
We will keep you posted.