Drake Software blog for tax pros, covering tax, IRS news, and more
It won’t be long before Americans start seeing the third round of Economic Impact Payments—also known as EIP3—showing up in their bank accounts and mailboxes.…
Read more about IRS Now Sending Out Third Round of Economic Impact Payments
President Biden signed into law the $1.9 trillion American Rescue Plan Act of 2021, which includes a number of tax-related provisions that lawmakers say will help struggling Americans weather the pandemic recession.…
The Internal Revenue Service has a number of resources and accessibility services available to taxpayers who need them.…
Read more about IRS Has Resources for Visually Impaired Taxpayers
It’s tax season, and that means you’re as busy as you can be. But it’s also the busy season for crafty criminals: scammers impersonating the IRS, either over the phone, by email or in person. Any of these methods can be used to steal money from people.…
The dates for the 2021 Nationwide Tax Forum have been set. But before you start calling for airline tickets, the announcement from IRS Commissioner Chuck Rettig has some helpful advice about travel plans:…
The Internal Revenue Service this week issued a tax tip to help taxpayers with missing or incorrect tax documents.…
Read more about The IRS Has Tips for Getting and Correcting Tax Documents
The Internal Revenue Service says its interest rates will hold at previous levels for the second quarter of 2021.…
Read more about IRS Interest Rates Steady for Second Quarter
First-time income tax filers and those who usually don’t have a federal filing requirement are being urged to reconsider sitting out this filing season. They may be eligible to claim the Recovery Rebate Credit—but they have to file an income tax return to get it.…
Read more about Qualifying Taxpayers Need to File for a Shot at Recovery Rebate Credit
Congress bookended 2020 with two taxpayer relief packages aimed at mitigating the financial strain caused by the ongoing coronavirus pandemic.…
Read more about The Employee Retention Credit Covered in New IRS Notice
A status report from the IRS shows income tax returns are being filed at a much slower rate than last year. But unlike in 2020, an extension to the April 15 filing deadline is unclear.…
Read more about Filing Numbers Down; Chance of Extended Deadline Unclear
