Drake Software blog for tax pros, covering tax, IRS news, and more
When taxpayers file an amended income tax return, it’s up to the Internal Revenue Service to review that return before it can be accepted. If the amended return includes a refund or a claim of less…
Read more about Audit Finds Some Amended Returns Going Unchecked for Fraud
The Internal Revenue Service is granting tax relief for taxpayers in southern and central Texas after record-breaking May storms left a dozen counties under water.Taxpayers and businesses in Austin,…
The IRS has spent much of 2015 and 2016 reaching out to taxpayers, whether through the security summit resulting in the “Taxes. Security. Together.” initiative or the Taxpayer Advocate Forums…
Read more about IRS Announces Winners for First-Ever Crowd-Sourcing Competition
A recently completed review by the IRS shows some foreign students have difficulty getting a refund of the withholding tax they reported on Form 1042-S, Foreign Person’s U.S. Source Income Subject to…
Read more about "False Positives" on 1042-S Spur IRS to Action for Foreign Students
A new study by an independent tax policy group says the hottest thing in self-employment is sliding billions of dollars under the radar of the IRS.It’s called the on-demand platform economy: We call a…
Read more about Study finds Uber, Airbnb are Costing U.S. Taxpayers Billions in Unpaid Tax
If your firm handles payroll administration as well as tax reporting for your business clients, you may be interested in becoming a Certified Professional Employer Organization (CPEO) through the…
The Internal Revenue Service says interest rates will remain the same for the calendar quarter that starts July 1. That means the rates will be:4 percent for overpayments (3 percent in the case of a…
Read more about IRS: No Interest Rate Change in Third Quarter
Five suspects were taken into custody by federal agents May 23 in Miami, Florida for their participation in a telephone scam against taxpayers. J. Russell George, Treasury Inspector General for Tax…
The Internal Revenue Service is warning taxpayers about a new scam that uses a fictitious tax to convince victims to wire money to the scammers’ account.The April 18 filing deadline has come and gone,…
Read more about Bogus “Federal Student Tax” Scam Making Rounds
When the Taxpayer Advocate Nina Olson addressed Congress at the end of 2015, she stressed that the IRS Future State plan required transparency and open discussion to succeed. In early 2016, she began…
Read more about Future State Sessions Featured at IRS Tax Forums
