Drake Software blog for tax pros, covering tax, IRS news, and more
An $11 billion bill that would permanently restore expired tax breaks for donations of food, charitable contributions from certain retirement accounts and for land conservation faced a sudden setback…
Read more about Permanent Charity Tax Breaks Face White House Veto
IRS YouTube Videos:Required Withdrawals from Your IRA: English | Spanish | ASLPodcasts:Required Withdrawals from Your IRA: English | SpanishIR-2014-112, Dec. 8, 2014WASHINGTON — The Internal Revenue…
Read more about Most Retirees Need to Take Required Retirement Plan Distributions by Dec. 31
Tax Preparers Consider New IRS ProgramDrake researchers conducted a short survey of over 7,000 tax preparers, including CPAs, EAs, attorneys, and non-credentialed participants, in light of the…
Read more about Annual Filing Season Program (AFSP) Survey Results Infographic
WASHINGTON -- The Treasury Inspector General for Tax Administration (TIGTA) publicly released its audit report on the effectiveness of the Internal Revenue Service’s (IRS) efforts to increase the…
Video: What If?People facing financial difficulties may find that there's a tax impact to events such as job loss, debt forgiveness or tapping a retirement fund. For example, if your income decreased,…
The US Department of Homeland Security (DHS) Has Issued a Warning of a New “Trojan Horse” Virus The US Department of Homeland Security (DHS) has issued a warning of a new “Trojan Horse” virus that has…
Delays ContinueDelays Continue in Completing Agreements to Share Information With Prisons, and Reports to Congress Are Not Timely or CompleteWASHINGTON – Tax refund fraud associated with prisoner…
Effect of Sequestration on Small Business Health Care Tax Credit - Tax-Exempt Employers OnlyDue to sequestration, refund payments issued to certain small tax-exempt employers claiming the refundable…
Read more about ACA Basics Effect of Sequestration on Small Business
For Not Having Health Coverage If any of the following circumstances apply to you, you may qualify for a “hardship” exemption from the penalty:You were homelessYou were evicted in the past 6 months or…
Over the Outside Employment of IRS EmployeesWASHINGTON – The Internal Revenue Service (IRS) has insufficient controls over the outside employment or business activities of its employees, according to…
