Drake Software blog for tax pros, covering tax, IRS news, and more
Tax professionals aren’t surprised when a new identity theft scheme makes the rounds, but fraudsters recently haven’t settled for just targeting taxpayers. When the Internal Revenue Service announced…
Read more about ID Thieves Again Target Preparers, Filing Fraudulent Returns
Taxpayers who install certain energy-efficient home improvements can cut their energy bills. But they can also cut their tax bills as well. Here are some enlightening facts about home energy tax…
Read more about Home Energy Tax Credits Help Save on Bills – and Taxes
When a taxpayer is looking for a new job within his or her existing line of work, some of the costs of that job search may be deductible. Here’s a quick refresher course on job search expenses.Same…
The Treasury Inspector General for Tax Administration (TIGTA) is recommending tighter controls by the IRS on the computer equipment issued to employees – especially laptops. The Inspector General…
Read more about Audit Finding: IRS Needs to Keep Track of Laptops When Workers Leave
The Internal Revenue Service has approved additional tax relief measures for Louisiana residents hard-hit by recent flooding. The IRS previously pushed back tax deadlines for taxpayers in the parishes…
Read more about IRS Approves Hardship Distributions for Louisiana Flood Victims
The Internal Revenue Service today reminded tax professionals that the Modernized e-File system will be taken offline over Labor Day weekend: 8:00 p.m. on September 3 until 6:00 a.m. on September…
Read more about IRS: Modernized e-File Offline for Labor Day Weekend
The Internal Revenue Service unveiled a new web page on IRS.gov to help taxpayers engaged in the sharing economy locate resources that will help them meet their tax obligations.The sharing economy…
Read more about New Online IRS Resource Center Launched for Sharing Economy Taxpayers
The Internal Revenue Service wants to revise its user fees for taxpayers who use the installment agreement to pay a tax due amount. The proposal reflects the federal law that agencies are required to…
Drake Software had a strong showing in areas that are important to CPAs when the Journal of Accountancy released their annual tax software survey on August 1, 2016.The survey polled 3,851 AICPA…
Read more about Drake Gets High Marks in Journal of Accountancy Software Survey
Generally, employer provisions of the Affordable Care Act say that an Applicable Large Employer (or ALE) has to offer affordable minimum essential coverage that provides minimum value to full-time…
Read more about ACA Refresher for Employers: Affordable Coverage vs. Minimum Value Coverage
