Drake Software blog for tax pros, covering tax, IRS news, and more
Taxpayers who made certain energy-efficient improvements to their homes last year may qualify for a tax credit.…
Read more about Don’t Forget the Tax Credit for an Energy-Efficient Home
If two thirds of your client’s gross income comes from farming or fishing and that client want to avoid making estimated tax payments, then the deadline to file a Form 1040 for tax year 2016 is March 1, 2017. Whether they’re looking to pay everything now or expect to make estimated payments, the IRS wants taxpayers to know that Direct Pay can make paying tax easier.…
Read more about IRS Direct Pay Could Help Farmers, Fishermen Meet March 1 Tax Deadline
Scams Include Tax-Related ID Theft, Tax SheltersEach year, the IRS releases their list of the “Dirty Dozen” scams to inform taxpayers about criminals who hope to capitalize on a busy, stressful time…
Chalk up a new low for those who seek to steal taxpayers’ personal information. The Internal Revenue Service says a scam has surfaced that uses Video Relay Services (VRS) to trick hearing-impaired taxpayers into divulging personal and financial information to identity thieves.…
As part of the Avoid the Rush tax tip series, the IRS yesterday reminded taxpayers about Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) refund delays. In addition to how weekends and Presidents Day fall on the calendar this year, one reason refund checks for returns claiming these credits will be delayed is the Protecting Americans from Tax Hikes (PATH) Act.…
Drake Software Wins 7 CategoriesFor the fourteenth year in a row, readers saw the results of the CPA Practice Advisor Readers’ Choice Awards, a poll of more than 6,000 readers covering a wide range of…
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Some cybercrime doesn’t even take the effort of a hack to make a payday. It’s as easy as shopping online. Computer security journalist Brian Krebs says would-be fraudsters have only to visit an online shop that offers buyers SSNs, stolen credit card numbers and stolen W-2 data on real people.…
Read more about Identity Thieves Have Gone to the Dark Side of the Net
During the 2016 tax season the IRS and tax preparers alike saw a big spike in phishing and malware incidents. Unfortunately, the 2017 season is shaping up to be more of the same. In fact, the Internal Revenue Service has included these phishing schemes to its “Dirty Dozen” list of the worst tax scams.…
Read more about Phishing the Threat of Choice of Identity Thieves
Identity thieves are widening their email scams in the latest attempt to steal personal and financial information. The Internal Revenue Service, state tax agencies and tax professionals have issued an urgent alert that the scammers are now targeting school districts, businesses (such as chain restaurants), tribal organizations and nonprofits.…
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The good news is the GAO found taxpayers calling the IRS received better service during the 2016 filing season. However, the study also determined that during the regular 2016 calendar year, information that could help alert taxpayers they were victims of identity theft was hard to obtain, either from www.irs.gov or through IRS customer service.…
Read more about GAO Cites IRS Shortcomings on Identity Theft
