Drake Software blog for tax pros, covering tax, IRS news, and more
Employees at Drake Software’s Hayesville, NC call center recently gathered and donated enough canned goods and nonperishable food items to feed more than 300 families as part of their “Let’s Can…
Read more about Drake Employees' "Let's Can Hunger" Food Drive a Success
After reviewing the 2014 tax data that was recently released by the IRS, Drake Software broke down the information according to income-, deduction-, and credit-related statistics.Simply follow the…
Read more about Individual Income Tax Return Statistics at a Glance
Income tax professionals are being alerted by the Internal Revenue Service that a new email phishing scam has been unleashed, and it targets preparers.This latest scam, identified by IRS Security…
Read more about New Phishing Scam Unleashed; Tax Pros Targeted
The Internal Revenue Service has proposed a change in the rules for claiming qualified education tuition and expenses. The changes were mandated by the Protecting Americans from Tax Hikes Act (also…
Read more about Changes to Tuition Expense Rules Proposed by IRS
Taxpayers with Individual Taxpayer Identification Numbers (ITINs) will have a different set of rules for the 2017 income tax filing season. The changes are the result of the Protecting Americans from…
The Internal Revenue Service is warning preparers and taxpayers alike that scammers have renewed their assault on their personal information. This newest round of IRS impersonation attempts come in…
“Education's purpose is to replace an empty mind with an open one.” - Malcolm ForbesForbes, of course, knew a thing or two about business and taxes. It could be said that we all need to be, well,…
Whether we call them part of the “on-demand platform,” “ride-sharing apps,” or just Uber and Lyft, one term describes it all: big business. And the hottest thing in transportation has grabbed a lot of…
The Internal Revenue Service has acquiesced in the Ninth Circuit court’s decision on a year-old tax case involving unmarried co-owners of real estate.The case involved Charles Sophy and Bruce Voss,…
Read more about IRS Decision May Impact Mortgage Interest Deduction in Some Cases
Usually, the profits your clients earn are taxable. However, if a taxpayer sells their home, they may not have to pay taxes on the money they gain. So we’ve got some tips for taxpayers who are…
