Drake Software blog for tax pros, covering tax, IRS news, and more
The Drake Software Blog Team is proud to cover the latest in tax-industry-related news, from tax law and IRS updates to technology and business strategies. Please subscribe to receive the most up-to-date news.
If you're a new tax preparer looking for your first professional tax software, you’ve got options — but some of those options may not be built with new preparers in mind. Learn more.…
Read more about Drake Tax Online™: A Smart Cloud-Based Option for New Tax Pros
We’re making it a priority to keep you informed about the latest updates and what’s ahead. Here are a few highlights to keep you up to speed. If you weren’t able to attend the Drake Hub launch webinar, don’t worry — we’ve got you covered. Find out how.…
Read more about Drake Hub: Current Features and Upcoming Enhancements
Two of the most widely used credits — the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC) — may offer significant opportunities to reduce a client’s federal income tax liability. This article provides an overview of these credits, including qualified expenses, income limits, institutional reporting requirements, and common filing issues — so you can better support your clients this back-to-school season and beyond.…
Read more about It’s Back-to-School Season: Help Clients with Tax Tips and Education Credits
Here’s what you need to know about this update and how it benefits your workflow. What is Drake Hub?When logging in, you'll now land on the Home tab of Drake Hub — your new control center for…
Get your copy of The Smart Tax Pro’s Guide to Building and Marketing a Thriving PracticeAre you a tax professional looking to grow your client base, retain loyal customers, and make your firm stand…
Read more about The Smart Tax Pro's Guide to Building and Marketing a Thriving Practice
Explore how the legislative reconciliation process could shape 2025 tax policy — including TCJA extensions, SALT caps, and new tax breaks.…
Read more about How the Reconciliation Process Impacts 2025 Tax Law
As tax professionals prepare for the 2025 filing season, staying up to date on changes to the Earned Income Credit (EIC) is essential—not just for compliance, but for maximizing client refunds and minimizing audit risk. The IRS has issued several adjustments for tax year 2024 (filed in 2025), affecting income thresholds, credit amounts, and due diligence requirements. Earned Income Credit updates, EIC 2025 tax season, EIC eligibility 2025, IRS EIC guidelines…
Read more about EIC Eligibility Updates: What Do Tax Professionals Need to Know
For tax professionals, these provisions are more than legislative footnotes—they directly impact how you advise clients, calculate retirement-related taxes, and practice compliance with IRS requirements.…
Read more about Secure Act 2.0 Retirement, Tax Reform, and OB3
Cryptocurrency continues to raise questions for tax preparation clients, and 2025 brings even more complexity with new IRS guidance and reporting forms.…
Explore key 2025 tax law updates from the One Big Beautiful Bill Act and their implications for tax professionals.…
Read more about The One Big Beautiful Bill Act: What Tax Pros Need to Know with Video
