Drake Software blog for tax pros, covering tax, IRS news, and more
Small-business clients are the cornerstones of many tax and accounting practices across the country. Having efficient, feature-rich accounting software can help you improve the quality of the service you provide and improve your bottom line.…
![Drake Software 2022 How Do Your Tax Prep Fees Stack Up? [Infographic]](/media/3089/fee-stack-up-blog.jpg?anchor=center&mode=crop&width=1024&height=576&rnd=133122884010000000)
Drake Software surveyed 3,620 tax professionals to learn what they plan to charge for tax preparation services during the 2023 filing season.…
Read more about Drake Software 2022 How Do Your Tax Prep Fees Stack Up? [Infographic]
When disaster strikes, the government’s disaster-declaration process can help victims recover from financial losses. Governors in affected states submit a major disaster area request to the president through the Federal Emergency Management Agency (FEMA); if granted, one benefit victims receive is tax relief.…
The Internal Revenue Service estimates over 9 million people who failed to file a tax year 2021 return could qualify for tax credits. This is not the first time the IRS has notified non-filers that they could be eligible for tax credits: the agency alerted 9 million taxpayers about their potential eligibility for Economic Impact Payments in September 2020.…
Read more about Non-Filers Can Still Benefit from Several 2021 Credits
Preparing tax returns is hardly a linear process. With data cross-referencing itself throughout both current and prior-year returns, navigation tools are vital to an efficient tax-prep workflow.…
Read more about Drake Tax Feature Spotlight: Search Data Entry with the Selector Field
While Monday, October 17 is the deadline to file tax returns for those who requested an extension earlier this year, some taxpayers may have additional time due to military service or disaster assistance. Additionally, the FBAR deadline has been extended for some due to natural disasters.…
Read more about IRS Reminds Taxpayers of Disaster Extensions for Tax Returns and FBAR
The Internal Revenue Service this week announced tax relief for victims of Hurricane Ian who reside or operate a business anywhere in North Carolina and South Carolina. Like relief granted to storm victims in Florida, the agency is delaying several federal filing and payment deadlines.…
Read more about Storm Victims in North Carolina and South Carolina Get Tax Relief
Having a convenient list of commonly accessed tax information can make it easier to weather the hectic pace of filing season. To make life a little easier for you, we produce a desk reference guide containing items ranging from due diligence requirements to MACRS recovery periods every year.…
Hurricane Ian slammed into the Florida coast last week, leaving a trail of destruction that resulted in more than a million without power and 81 confirmed dead. The Internal Revenue Service announced tax relief and dyed diesel fuel penalty relief for storm victims following a disaster declaration for the entire state by the Federal Emergency Management Agency (FEMA).…
Read more about Florida Storm Victims Get Tax and Fuel Penalty Relief
Identity theft. Just the mere mention of this mayhem masquerade is enough to make the blood of tax professionals everywhere run cold.…
Read more about Multi-Factor Authentication Can Head Off Sophisticated Scammers
