Drake Software blog for tax pros, covering tax, IRS news, and more
The new wage verification process inaugurated for the tax year 2016 filing season holds hope in the fight against fraudulent income tax returns, a new report finds, but the Internal Revenue Service faced more than a few challenges in carrying out the plan.…
Read more about GAO: W-2 Verification Promising, but More Work Remains
Millions of Americans engage in hobbies that may also be a source of income. And it’s that last word – income – that raises the attention of the Internal Revenue Service.…
Read more about Is Your Hobby a Business? How the IRS Decides
A lot of ink and hype have been expended lately about the drivers for a certain ride-hailing company, and whether those drivers are employees or independent contractors.…
Read more about Is Your Client an Employee or Independent Contractor? It Pays to Know the Difference
Preliminary numbers are in on income tax return filings for Tax Year 2016, and they add up to a busy season.…
The Internal Revenue Service recently released information that could also help late filers: how to verify the person at the door is actually an IRS agent.…
We’re just one day away from morning shows, 24-hour news outlets, and a torrent of social media posts talking about Tax Day, but there are still some who won’t have to file tomorrow.…
With the April 18 income tax filing deadline just days away, millions of American taxpayers will soon have just two choices to avoid a penalty: File or get an extension.…
A group of organizations that represent areas of the tax professional community have joined to let federal lawmakers know they’re not happy with the Internal Revenue Service's performance.…
Read more about Tax Professional Organizations Join Forces for IRS Improvements
The Internal Revenue Service is mailing out written notices to thousands of taxpayers who may have had their identities compromised due to a recent hack of the student aid application process.…
The use of virtual currency such as Bitcoin has been growing for all sorts of online financial transactions. But the Internal Revenue Service says they’re finding that very few of those transactions are being reported for tax purposes.…
