Drake Software blog for tax pros, covering tax, IRS news, and more
Employer Shared ResponsibilityOn Feb.10, 2014, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) issued final regulations implementing the employer responsibility provisions…
WASHINGTON – The Internal Revenue Service (IRS) is authorized to disclose limited tax information to Affordable Care Act Exchanges when an applicant seeks financial assistance in obtaining health…
Any person who prepares, or assists in preparing, a tax return must renew their Preparer Tax Identification Number (PTIN). This includes CPAs and Enrolled Agents as well as independent preparers.All…
California's health insurance exchange – Covered California – has begun sending “pre-termination” notices this week to 10,474 people who failed to prove their citizenship or legal residency in the US…
Read more about Covered California To Drop Health Care For More Than 10,000
New Rules Allow DeductionsRegulations issued under T.D. 9696 finalize rules the IRS put into effect in 2012 allowing employees to deduct certain expenses paid or incurred for local lodging as business…
Read more about IRS Allows Deduction for Local Lodging Expenses
Microsoft’s Announced Decision to re-name Windows 9 to the next version, 10.It has only been three days, but the dust is starting to settle from Microsoft’s announced decision to re-name Windows 9 to…
The Internal Revenue Service’s (IRS) field workload selection process is not designed to ensure that cases with the highest collection potential are identified, selected, and assigned to be worked,…
Calculating the ACA’s new Premium Assistance Tax Credit is No Simple TaskIf your idea of a good time is a new tax credit that works differently from other credits, that’s calculated per person and per…
The Following Statement Released Today Senate Finance Committee Chairman Ron Wyden (D-OR) issued the following statement today after receiving a letter from IRS Commissioner John Koskinen regarding…
Read more about IRS Chief Koskinen and Sen. Wyden Warn About Delay in Tax Refunds
ACA Credits Could Mean Lower Tax RefundsThe Affordable Care Act (ACA) is already proving to be confusing and costly for consumers, with widespread premium increases and plan cancellations. Now, the…
