Drake Software blog for tax pros, covering tax, IRS news, and more
With the United States beginning to feel the effects of the coronavirus pandemic, many taxpayers will have to confront another harsh reality: how to pay for the advanced medical care that could be needed to save their lives.…
Read more about IRS Ruling Lets High-Deductible Health Plans Cover Coronavirus Costs
Good news and bad news for taxpayers who have trouble paying their tax bills. The bad news is that the IRS is raising the application fee for the Offer in Compromise.…
Read more about IRS Boosts Application Price for Offer in Compromise; Waivers Available
Taxing Subjects has another filing season update on the latest episode of the Taxing Subjects Podcast.…
Read more about Taxing Subjects on Tax Season Stats, Virtual Currency, and More – E42
The House Ways and Means Committee yesterday sent a letter to the Internal Revenue Service to ask whether the April 15 deadline should be extended due to concerns about the coronavirus.…
Read more about Ways and Means to IRS: Will COVID-19 Delay Filing Deadline?
Victims of the recent tornadoes that swept through Tennessee have gotten some tax relief from the Internal Revenue Service.…
Read more about Tennessee Tornado Victims Get Tax Relief from IRS
Download the "Does My Client Qualify for QBI?" infographic.…
The IRS is continuing its taxpayer-education outreach by highlighting the Credit for Other Dependents in a recent press release.…
Read more about IRS Highlights the Credit for Other Dependents
The federal office tasked with overseeing the Internal Revenue Service says fraudulent claims for refundable credits are going through – in spite of the tools Congress gave the agency to stop them.…
Read more about IRS Allowing Fraudulent Credits to Go Through, Audit Finds
Drake Software Vice President of Strategic Development John Sapp, CPA, discusses the section 199A qualified business income deduction.…
Read more about John Sapp, CPA, Explains the QBI Safe Harbor Rule – E41
