Drake Software blog for tax pros, covering tax, IRS news, and more
It's the client most dreaded by tax preparers – the individual or small business manager who literally shows up to have their taxes prepared armed with only a boxful of receipts and unorganized…
The IRS recently released information pertaining to the Small Business Health Care Tax Credit, outlining the prerequisites for receiving the credit and which forms need to be filed.For a business to…
Next week, the IRS will begin hosting the Nationwide Tax Forums, a series of three-day conferences covering ethical and legal issues facing the tax industry. Attendees can earn CPE, attend live…
“You’ll know what to do.” Terry and her mother had always been close. After Barbara Durkin was diagnosed with lung cancer in 2003, Terry decided to come home and help with her mother’s tax practice. When talking about their relationship, Terry reminisces, “I can’t describe my mother in just one word: She was my role model, my friend, my mentor, and so much more. She was influential in every part of my life.”…
Read more about Terry Durkin, EA, MBA: Two Generations of EAs; Two Generations of Drake
There is no question that identity theft – particularly as it relates to taxes – is a major criminal activity and a serious threat. The Federal Trade Commission (FTC) notes that last year this…
Yet another sign that the economy may be showing signs of recovery is the top concern of the majority of CPA firms – how to attract and retain qualified people as a foundation for growth. The…
By a vote of 6-3, the United States Supreme Court (SCOTUS) upheld the Patient Privacy and Affordable Care Act (ACA), ruling that the intent of the law was to ensure nationwide health care coverage. …
Read more about Supreme Court Upholds Federal Subsidies For The ACA
If you’re running Windows 7 or later, you may have noticed a small logo appear in the taskbar (generally in the lower right corner of the screen). Click on the logo and you’ll be taken to a “Get…
The IRS announced that roughly 44,000 tax return preparers earned a record of completion after participating in the first Annual Filing Season Program. As previously reported, those individuals…
Today, the IRS reminded taxpayers that money spent on summer day camps can be eligible for a tax credit if the attending child or dependent qualifies under the rules outlined in Publication 503. This…
