Drake Software blog for tax pros, covering tax, IRS news, and more
Wondering where your amended return could be?A new tool, provided by the IRS, allows you to check the status of a Form 1040X, Amended Tax Return, for current and up to three prior years. The new tool…
Read more about Wondering Where Your Amended Return Could Be?
The US Internal Revenue Service was prevented this week from implementing its plan to regulate tax preparers. The plan, which required test-taking and continuing education for preparers, was struck…
Read more about Court Denies IRS Regulation Program For Tax preparers
RTRP UpdateRefunds may be requested, for anyone who may have scheduled the RTRP exam, using their PTIN account. Once logged in, you may cancel your exam and complete the request for refund form. The…
New Test Specifications for EA ExamThe IRS recently updated the terms for the Special Enrollment Examination. These are posted on prometric.com/irs. Also, there is a version posted for those who want…
After the real estate crash, many taxpayers' mortgages exceeded the value of their properties, so they did a short sale or went through a foreclosure. Many of these taxpayers received...…
Taxpayers who pay qualifying expenses for a student can be eligible for the American opportunity tax credit, lifetime learning credit, or the tuition and fees deduction...…
Read more about Don’t Overlook Education Related Tax Benefits
WASHINGTON —The Internal Revenue Service today provided late-payment penalty relief to individuals and businesses requesting a tax-filing extension because they are attaching to their returns any of the forms that couldn’t be filed until after January.…
Read more about Relief Available To Many Extension Requesters Claiming Tax Benefits
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I know you all are thinking …”Hmmm what can I do to celebrate this wonderful occasion?” We all deserve a little something for surviving another tax season, right?…
Read more about Happy End of Tax Season! Who’s Going to Disney World?
Sandy’s dedication reaches beyond her family and clients. She has been a member of the National Association of Tax Professionals (NATP) for 21 years and was chosen by the NATP as its 2009 Tax Professional of the Year. “It means so much to me to be chosen,” she says. “It says the work I do matters. When your peers choose you, that is pretty life changing.”…
