Drake Software blog for tax pros, covering tax, IRS news, and more
On June 28, private- and public-sector tax administration leaders met to review what had been accomplished in 2016 and plan for next year, concluding that the Security Summit's past efforts reduced…
Read more about IRS Says Security Summit Yields Positive Results
The first in a series of IRS Nationwide Tax Forums kicks off July 14 in Chicago, with Commissioner John Koskinen delivering the event’s keynote address.The forums are three-day events providing tax…
Read more about IRS Commissioner Headlines Chicago Nationwide Tax Forum
The Internal Revenue Service has taken its electronic filing PIN tool off IRS.gov after an attempted cyberattack was launched against new security measures. In addition to removing it from the…
Read more about IRS Shuts Down Electronic Filing PIN Tool After Suspected Attack
The Internal Revenue Service recently issued their guidelines as far as how Bitcoin and the other virtual currencies fit into the scheme of the American tax structure. But the American Institute of…
Read more about AICPA Asks IRS for Clarification on Virtual Currency
If you have clients who filed for an extension of time to file their 2015 returns, and they receive advance payments of the premium tax credit, those taxpayers should file their income tax return…
Read more about Remind Clients Not to Jeopardize Premium Tax Credit Advance Payments
When taxpayers file an amended income tax return, it’s up to the Internal Revenue Service to review that return before it can be accepted. If the amended return includes a refund or a claim of less…
Read more about Audit Finds Some Amended Returns Going Unchecked for Fraud
The Internal Revenue Service is granting tax relief for taxpayers in southern and central Texas after record-breaking May storms left a dozen counties under water.Taxpayers and businesses in Austin,…
The IRS has spent much of 2015 and 2016 reaching out to taxpayers, whether through the security summit resulting in the “Taxes. Security. Together.” initiative or the Taxpayer Advocate Forums…
Read more about IRS Announces Winners for First-Ever Crowd-Sourcing Competition
A recently completed review by the IRS shows some foreign students have difficulty getting a refund of the withholding tax they reported on Form 1042-S, Foreign Person’s U.S. Source Income Subject to…
Read more about "False Positives" on 1042-S Spur IRS to Action for Foreign Students
A new study by an independent tax policy group says the hottest thing in self-employment is sliding billions of dollars under the radar of the IRS.It’s called the on-demand platform economy: We call a…
Read more about Study finds Uber, Airbnb are Costing U.S. Taxpayers Billions in Unpaid Tax
