Drake Software blog for tax pros, covering tax, IRS news, and more
The Internal Revenue Service is reminding all taxpayers they should keep tax records – including returns and supporting documents – for a minimum of three years. And keeping those records handy will be more important in the very near future for those taxpayers who prepare their own returns.…
Read more about IRS to Extension Filers: You May Need 2014 AGI to E-file
Taxpayers and tax professionals alike are being warned to be on the lookout for fake emails that claim to contain an IRS tax bill related to the Affordable Care Act (ACA).The bogus email contains what…
Read more about New Warning Issued from IRS on Emerging Scam
The Internal Revenue Service is following through on its pledge to protect the electronic information of taxpayers and preparers by beefing up the identity validation process used to access its…
A certification deadline is just days away for the Work Opportunity Tax Credit (WOTC), and that has spurred the Internal Revenue Service to urge employers to certify their new hires who qualify -…
Read more about Employers Urged to Take Advantage of Work Opportunity Tax Credit
No doubt about it, the idea that there are hordes of scammers out there trying to purloin the personal information belonging to you – and your clients – is the new normal. And while reports of the…
The Internal Revenue Service is sending letters to taxpayers who received advance payments of the premium tax credit in 2015 – but haven’t filed their tax return. Taxpayers must file a return to…
Read more about File Now to Stay Eligible for Advance Payment of Premium Tax Credit
John Sapp, Vice President of Strategic Development for Drake Software, has been appointed to the Electronic Tax Administration Advisory Committee. The ETAAC was established in 1998 to confront tax…
Read more about Drake’s John Sapp Named to National Advisory Panel
The Government Accountability Office has issued a report that examines the quality of the guidance the Internal Revenue Service issues to taxpayers and preparers. The GAO faulted the IRS, the Treasury…
Read more about GAO Report Questions Quality of IRS Guidance, Rulemaking
Last month, we looked at the legal dustup between ride-sharing company Uber and its contracted drivers and speculated on ways sharing economy businesses might affect tax preparation. One EA we…
Read more about Part of the Sharing Economy? The IRS Has Tax Tips for You
An audit has found that the Internal Revenue Service has failed to notify taxpayers that they’ve been victims of a certain kind of identity theft. Making matters worse, the IRS isn’t always sending…
Read more about Some Identity Theft Victims Fall Through the Cracks
