Cryptocurrency continues to raise questions for tax preparation clients, and 2025 brings even more complexity with new IRS guidance and reporting forms.…

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Explore key 2025 tax law updates from the One Big Beautiful Bill Act and their implications for tax professionals.…

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As summer travel heats up, many taxpayers turn their second homes into short-term rentals. While the extra income can be lucrative, it also introduces a complex mix of tax rules that require attention from seasoned tax professionals. If your clients own or are considering listing a vacation rental, here are key tax tips to keep in mind for the coming tax season and beyond.…

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Discover how to evaluate and compare professional tax software based on features, pricing, support, compliance, and more to find the right fit for your firm.…

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Learn about the 2025 IRS updates to protect tax pro clients from tax scams, fraud, ghost preparers, and false claims. Read more.…

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Drake Software has collected data from peers and the IRS to analyze in-season insights. Explore key filing statistics and industry shifts to help you strategize for a stronger, more informed tax season. Get your insights.…

Read more about Key IRS Trends: Strategize for Tax Year 2025 With Compelling Tips and Insights.

The IRS has experienced significant staffing changes due to federal workforce reduction initiatives. While initial layoffs affected thousands of employees, recent developments indicate efforts to rehire and stabilize the workforce. These fluctuations come as tax professionals navigate the complexities of the 2025 filing season.…

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Tax season can bring out the best—and worst—in your clientele. Stress, deadlines, and complex financial issues may cause some tax customers to act impatient, defensive, or outright combative. As a professional tax preparer, knowing how to handle difficult clients is essential for maintaining professionalism, protecting your time, and delivering accurate returns.…

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Whether you are launching your first tax practice or looking to switch software, finding the right fit is critical. With many tax software solutions available, it’s easy to get overwhelmed by…

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It's still vital for tax professionals to be aware of the updated IRS penalties for late filing and payment. Understanding these penalties can help in advising clients effectively and mitigating potential financial repercussions.…

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