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Drake Software blog for tax pros, covering tax, IRS news, and more

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Gig Economy Income Can Affect a Taxpayer’s Bottom Line

Bob Williams - January 27, 2020
Gig Economy Income Can Affect a Taxpayer’s Bottom Line

The Internal Revenue Service says a little pre-planning can help gig economy workers be ready when it’s time to file their taxes.…

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Jay Eager Discusses Drake Accounting on Drake Hosted - E38

Ryan Norton - January 24, 2020
Jay Eager Discusses Drake Accounting on Drake Hosted - E38

Drake Accounting Development Manager Jay Eager explains the benefit of choosing Drake Accounting on Drake Hosted.…

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Thousands of New Non-Profits Not Following Federal Law

Bob Williams - January 22, 2020
Thousands of New Non-Profits Not Following Federal Law

An audit by the Treasury Inspector General for Tax Administration (TIGTA) has found that nearly 10,000 new tax-exempt organizations failed to follow federal law to notify the IRS of their formation.…

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IRS Annual Report: Six Goals and a Look Ahead

Bob Williams - January 20, 2020
IRS Annual Report: Six Goals and a Look Ahead

In the two previous posts, we took a look at some of the assessments the IRS leadership made about 2019 and how the agency responded. In this edition, we’ll look forward.…

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New Revenue Procedure Extends Discharged Loan Relief

Ryan Norton - January 17, 2020
New Revenue Procedure Extends Discharged Loan Relief

Tax clients who had their student loans forgiven have even more cause for celebration this week.…

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IRS Unveils New Online Resource for Freelancers

Ryan Norton - January 15, 2020
IRS Unveils New Online Resource for Freelancers

The Internal Revenue Service recently unveiled the Gig Economy Tax Center, a new online resource for freelancers.…

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IRS Annual Report: Personnel, Technology, and More

Bob Williams - January 13, 2020
IRS Annual Report: Personnel, Technology, and More

The annual report issued by the Internal Revenue Service spotlights the agency’s new “can-do” philosophy while giving us a glimpse into the enormous workload still needed to bring the IRS into the 21st century.…

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What’s in the Taxpayer Advocate’s 2019 Annual Report to Congress?

Ryan Norton - January 10, 2020
What’s in the Taxpayer Advocate’s 2019 Annual Report to Congress?

The Internal Revenue Service this week announced that Congress has received the National Taxpayer Advocate’s 2019 Annual Report to Congress.…

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IRS Annual Report: Tax Changes and Enforcement

Bob Williams - January 08, 2020
IRS Annual Report: Tax Changes and Enforcement

The Internal Revenue Service has released its annual report for 2019, giving Commissioner Chuck Rettig a chance to explain the improvements implemented in the American tax system in the last year.…

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2019 Filing Season to Start January 27, IRS Says

Bob Williams - January 06, 2020
2019 Filing Season to Start January 27, IRS Says

The Internal Revenue Service has confirmed that it will begin accepting and processing 2019 returns on January 27, opening the gates for millions of individual tax return filers.…

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