Drake Software blog for tax pros, covering tax, IRS news, and more
2014 Standard Mileage Rates The Internal Revenue Service issued the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable,…
Koskinen Approved By Senate Committee to Head IRS John Koskinen, the 74-year-old multimillionaire with a long history of accomplishments, has been approved by the US Senate Committee on Finance to…
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IRS Offers Expanded Guidance on Taxation of Benefits for Same-Sex SpousesThe Internal Revenue Service has issued additional guidance on the application of rules under Section 125 of the Internal…
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IRS Interest Rates Remain the Same for the First Quarter of 2014The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2014. …
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2014 Tax Season to Open Jan. 31; e-file and Free File Can Speed Refunds IR-2013-100, Dec. 18, 2013WASHINGTON — The Internal Revenue Service today announced plans to open the 2014 filing season on Jan.…
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IRS Issues Reminders for Year-End Charitable Gifts Individuals and businesses making contributions to charity should keep in mind several important tax law provisions that have taken effect in recent…
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IRS Releases Final Rule on Net Investment Income Tax Under the ACAThe IRS has released final regulations under section 1411 of the Internal Revenue Code to provide guidance on the general application…
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IRS Issues Rules on Additional Medicare TaxAfter receiving limited input during the required comment period, the Internal Revenue Services has issued the final regulations relating to Additional…
10 Technologies Worth Investing In (December Edition)By James StorkSenior Vice President, Drake Software Conventional wisdom holds that tax preparation and accounting firms should begin their quest…
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Report: Transition of e-Filed Tax Returns to the IRS’s Modernized e-File System Was Successful during 2013 Filing SeasonThe Internal Revenue Service’s Modernized e-File (MeF) system successfully…
