Drake Software blog for tax pros, covering tax, IRS news, and more
As we get closer to the 2020 tax season, tax pros need to complete their continuing professional education training. Luckily, the IRS and Drake Software can help with that.…
Last Friday, the Internal Revenue Service announced that it has filed for publication the final regulations for section 6050Y: "Information Reporting for Certain Life Insurance Contract Transactions and Modifications to the Transfer for Valuable Consideration Rules."…
Read more about Section 6050Y Final Regulations Give More Time to Comply
We've a few short months away from the end of 2019, and tax professionals across the country are trying to finish earning their continuing professional education credits.…
The IRS this week released another disaster victim-focused tax tip, reminding taxpayers what they can do to rebuild financial records lost to a storm, flood, or some other catastrophic event.…
Read more about IRS Has Financial Record Recovery Tips for Disaster Victims
The IRS is launching the second annual International Charity Fraud Awareness Week, which runs through Oct. 25.…
Read more about It’s International Charity Fraud Awareness Week
Taxpayers whose outstanding tax bill has been referred to a private debt collector have a new way to pay, according to a recent IRS press release.…
Read more about IRS Announces New Way to Pay Tax Bills That Have Gone to Private Collections
October is National Work and Family Month, and to celebrate, the IRS is issuing informative tips on the work-life balance. Topics include family businesses, family tax credits, military tax benefits, scams and security issues.…
We’re nearing the end of 2019, and that means choosing the software that your office will use next filing season. Drake Accounting Development Manager Jay Eager walks us through new features in Drake Accounting, including bulk e-filing of Forms W-2 and W-3, multi-factor authentication, and more.…
Read more about Jay Eager on What’s New in Drake Accounting - E34
The IRS this week reminded taxpayers that the filing deadline for those with a tax extension is Tuesday, October 15, 2019. Generally, taxpayers who request an extension are given an extra six months to file their tax return with the IRS.…
