Drake Software blog for tax pros, covering tax, IRS news, and more
If the Internal Revenue Service needed additional support for its announced push to improve its online security, it got just that from a recent audit. The Treasury Inspector General for Tax…
Read more about IRS Gets More Backing for Improved Cyber Security
The Internal Revenue Service is rethinking a key deadline it had imposed for upgrading security of its e-Services system. Last month, the IRS announced to preparers that they’d have to re-register using the new process no later than Oct. 24.…
Taking their lead from the Federal Emergency Management Agency (FEMA), the Internal Revenue Service has expanded its tax relief measures along with the Hurricane Matthew disaster declaration area.…
Read more about Hurricane Tax Relief Expanded to Four States
Victims of Hurricane Matthew in North Carolina are getting an extension of time to file certain business and individual tax returns or make tax payments. Similar measures are expected soon for taxpayers in other states hit by the storm.…
Read more about NC Hurricane Victims get Break on Tax Deadlines
Legislation expands the EITC due diligence requirements to include two other refundable credits – the Child Tax Credit or Additional Child Tax Credit, and the American Opportunity Tax Credit.…
Read more about 2017 Tax Season to See Expanded Due Diligence Reporting
Bootstrapping seems an appropriate way to describe Jim Bourke. Some may immediately recognize him as a tax-industry luminary whose dedication to spotlighting and adopting efficiency technologies has led to industry-wide adoption of workflow and organization solutions.…
Read more about Jim Bourke, CPA, CITP, CFF, CGMA: A Passion for Technology and Tax
The Internal Revenue Service announced last Friday that they would be extending the amount of time that ranchers and farmers have to replace livestock that they had to sell as a result of drought by one year. It’s worth noting that the extended replacement period only applies to draft, dairy, and breeding livestock.…
Read more about IRS Extends Time to Replace Drought-Sale Livestock
Believe it or not, taxpayers are just days away from their final income tax deadline to file for the 2015 tax year. Those who received an extension of time to file must do so by midnight on Monday,…
Read more about The 2016 Tax Deadline is Right Around the Corner
In the spring of 2017 the Internal Revenue Service will change its tactics in order to collect outstanding tax bills: private debt collection firms. Four companies have been selected by the agency to collect certain overdue federal tax debts in its name.…
Read more about IRS to Use Private Debt Collection Firms for Overdue Taxes
The Internal Revenue Service is reminding all taxpayers they should keep tax records – including returns and supporting documents – for a minimum of three years. And keeping those records handy will be more important in the very near future for those taxpayers who prepare their own returns.…
Read more about IRS to Extension Filers: You May Need 2014 AGI to E-file
