Drake Software blog for tax pros, covering tax, IRS news, and more

Tax Relief Coming for Taxpayers Affected by Hurricane Michael

Tax Relief Coming for Taxpayers Affected by Hurricane Michael

According to NOAA, we are well into the worst part of hurricane season—a fact punctuated by two significant storms making landfall less than one month apart. While emergency workers brave treacherous conditions to restore shattered communities, other state and federal agencies help the recovery effort in other ways.…

Read more

More Time to Replace Livestock due to Drought

More Time to Replace Livestock due to Drought

While too much rain due to tropical storms and hurricanes has been the big news in the eastern U.S. recently, out west, the problem has been not enough rain. Many farmers and ranchers have had to sell off their herds of livestock because of the dry conditions.…

Read more

IRS Addresses Deduction for Business Meals

IRS Addresses Deduction for Business Meals

While the Tax Cuts and Jobs Act removed the deduction for entertainment that many businesses enjoyed in years past, the IRS announced Notice 2018-76, which outlines when business owners can deduct half of the price tag for business meals.…

Read more

New Tax Transcript Now Online

New Tax Transcript Now Online

A revamped tax transcript is now available for individual taxpayers and tax professionals. The IRS previously announced the improvements to the transcript design, which is aimed at making the product more secure.…

Read more

SC Hurricane Victims Get IRS Relief

SC Hurricane Victims Get IRS Relief

Victims of Hurricane Florence in South Carolina have gotten something they haven’t seen in recent weeks: good news. The IRS has included affected taxpayers in the Palmetto State in its tax relief measures in the wake of the disaster.…

Read more