Top Tax Issues in the Inflation Reduction Act

Top Tax Issues in the Inflation Reduction Act

President Biden signed into law the $369 billion Inflation Reduction Act of 2022 (IRA), which proponents say will lower the deficit, invest in renewable energy, and lower health care costs. This sweeping legislation also addresses issues that will specifically interest tax professionals: increased funding for the Internal Revenue Service, new corporate taxes, and adjustments to tax credits.…

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Security Summit Announces New Sample Security Plan

Security Summit Announces New Sample Security Plan

Most tax-season-preparation checklists include updating software, reviewing tax law changes, earning continuing professional education credits, and training seasonal staff. Creating or updating a written information security plan (WISP) is one often-overlooked item that should make everyone's list. After all, tax professionals are required by the Federal Trade Commission’s Safeguards Rule to have one of these plans in place to protect client information.…

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Drake Takes 10 Categories in Journal of Accountancy Survey!

Drake Takes 10 Categories in Journal of Accountancy Survey!

Many people review user ratings for critical insight when considering a new product, and annual tax-preparation software surveys are a rich resource for tax professionals. The surveys draw clear comparisons of user experience in areas that directly impact office performance. Seeing how applications stack up against the competition can influence the decision to switch, especially when peers overwhelmingly praise one solution.…

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