Drake Software blog for tax pros, covering tax, IRS news, and more
Online Tools Designed to Assist PreparersFiling Season Starts January 20. Are you ready? The IRS has a variety of online tools to assist you this filing season. Visit Basic Tools for Tax…
The IRS recently published the hours of operation for their eHelp service. This document identifies upcoming holidays that the eHelp office will be closed:Due to Budget restrictions for 2015, extended…
Read more about Press Release: IRS Cuts eHelp Hours For Tax Professionals
Laws under our legislative system don’t always contain all of the information needed to determine what the legislators had in mind when they approved the law. Sometimes errors are made in the…
Read more about Asking the Right Questions About Improper Tax Credits
New ACA Reference Guide Now AvailableDrake Software compiled important ACA-related information to help tax preparers during filing season.Download the 2014 ACA Reference Guide now.Thank you!Drake…
Outlines Warning Signs that Client Information Could be CompromisedTax preparers play a critical role in assisting clients, both individuals and businesses, who are victims of tax-related identity…
Read more about IRS Updated Identity Theft Information for Tax Preparers
The United States Supreme Court will hear oral arguments on the constitutionality of the Patient Protection and Affordable Care Act (“ACA”) on March 4, 2015.The case, formally known as David King et…
Read more about Supreme Court To Hear Oral Arguments on Obamacare March 4, 2015
Beginning in November 2014, the Internal Revenue Service began its sixth year of a hands-on effort to improve the accuracy and quality of tax returns and to heighten awareness of preparer…
Read more about IRS Letters to Tax Preparation Professionals
Badgerland Financial, a financial services and accounting firm that is a member of the Farm Credit System, has issued a memo to accountants and tax preparers regarding the recently-passed extension to…
Read more about Impact of Section 179 Tax Credits On Farmers
Taxpayers Who Married in 2014 Should Report Change to ACA MarketplaceNewlyweds in 2014 who received advance premium tax credit payments should take note of the Alternative Marriage Calculation on Form…
Read more about ACA Basics - The Alternative Marriage Calculation for Newlyweds
New Healthcare-Related Forms Important This Tax SeasonAdding to the lengthy list of items you must have in order to file individual income taxes this year is the new Form 1095-A, the Health Insurance…
Read more about ACA Basics - IRS Releases Forms for Affordable Care Act
