Drake Software blog for tax pros, covering tax, IRS news, and more
The Internal Revenue Service says it has new procedures in place that can help certain expatriated American taxpayers come into compliance with their U.S. tax obligations and get relief for back taxes.…
This week, we learned what CPAs across the country thought when the Journal of Accountancy (JofA) released the results of their “2019 Tax Software Survey.”…
Read more about Drake Tax Takes 12 Categories in JofA 2019 Tax Software Survey
According to the IRS, self-employed taxpayers should use the Tax Withholding Estimator when they perform their next “paycheck checkup.”…
Read more about IRS to Self-Employed Taxpayers: Use the Tax Withholding Estimator
A new audit from the Treasury Inspector General for Tax Administration (TIGTA) finds that IRS identity theft investigations by the Criminal Investigations unit declined by 75% between 2013 and 2017.…
Read more about IRS Identity Theft Investigations Down 75 Percent Since 2012
The IRS last Friday announced that it would be waiving the penalty for using red-dyed diesel in highway vehicles. The press release came while Floridians prepared for the possibility that Hurricane Dorian would make landfall.…
Time is running out for taxpayers who need to renew an expiring ITIN before next filing season.…
Owning your own business can be a very rewarding experience. The process of starting a business, however, can seem overwhelming to the uninitiated.…
Modernizing and streamlining the Internal Revenue Service has been a major focus in recent years.…
Read more about Amanda Explains the Taxpayers First Act - E31
For some taxpayers paying estimated taxes who have filed their 2018 tax returns there’s a little bit of bad news—and some good news.The bad news is they failed to claim the special waiver that would…
Read more about IRS Waives Estimated Tax Penalty for Eligible 2018 Filers
A reworked version of Form W-4 has been released by the IRS and the Treasury Department for the 2020 tax year.…
