Drake Software blog for tax pros, covering tax, IRS news, and more
IRS Statistics on individual Tax Returns for 2011 The Internal Revenue System has released its statistics on Tax Year 2011 individual returns filed in 2012. The data indicates some improvement in the…
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IRS Combats Identity Theft and Refund Fraud on Many Fronts Stopping identity theft and refund fraud is a top priority for the Internal Revenue Service (IRS). The agency’s work on identity theft and…
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IRS Audit of Individual Returns Hits Lowest Rate Since 2005 The Internal Revenue Service audited 0.96 percent of individual tax returns in fiscal 2013, reaching the lowest rate since 2005, Bloomberg…
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It is the proper reporting of wages to a domestic employee. A domestic employee is someone that you employee to work in or around your home. This can include individuals who are gardeners, landscapers, housekeepers, maids, caregivers, and even your handyman. For our discussion, let’s limit this to caregivers.…
National Taxpayer Advocate Delivers Annual Report to Congress; Focuses on Taxpayer Bill of Rights and IRS FundingWASHINGTON — National Taxpayer Advocate Nina E. Olson today released her 2013 annual…
The state of Massachusetts has announced that it will begin Phase Two of individual e-file testing with software developers on or after 1.09.14. The latest version of their Personal Income Tax (PIT)…
How to Fire an EmployeeTermination, Part IBy James StorkSenior Vice President, Drake Software No one enjoys firing an employee. Whether it is a seasonal worker or a permanent staff member,…
Tax Preparation Fees For 2014Taxpayers looking to hire a professional to complete their 2013 tax return can expect to pay an average of $261 for an itemized Form 1040 with Schedule A and a state tax…
New York To Regulate Tax Preparers As federal efforts to regulate independent tax preparers falter, the state of New York has become the fourth US state to implement regulation of unlicensed…
Business Tax Filers can start filing 2013 Tax Returns on January 13, 2014The IRS will begin accepting 2013 business tax returns, both paper-filed and e-filed, on Monday, Jan. 13, 2014. Business…
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