Drake Software blog for tax pros, covering tax, IRS news, and more
Rates Going Up This April, May, and JuneLast week, the IRS released the corrected Q2 interest rates, indicating the first such increase since Q4 2010. An official revenue ruling, dated April 4, 2016,…
Last Year that C and S Corporation Deadlines will Fall on the Same DayTomorrow at midnight is the last moment to meet the filing and extension-request deadline for calendar-year corporation, C…
Read more about Deadline: Calendar-Year Corporation, C Corporation, and S Corporation
Taxpayers Now Need to Call the IRS to Retrieve Lost or Forgotten IP PINsThe IRS announced yesterday that they would be temporarily suspending the IRS.gov Identity Protection PIN tool while they work…
Tomorrow is the tax deadline for farmers and fishermen, and the IRS advertised their Direct Pay tool as a way that taxpayers can quickly pay their owed taxes. The IRS press release pointed out that…
Read more about March 1 is the Deadline for Farmers, Fishermen
H&R Block is giving $1,000 to 1,000 of its clients every day. Jackson-Hewitt is paying its clients with a $50 American Express card. Liberty Tax offers a $50 cash payment to use its services, along…
Read more about Ten Ways to Compete With the National Chains
Tuesday's Forum Intended to be First in a SeriesWhile delivering the 2015 Annual Report to Congress in January, National Taxpayer Advocate Nina E. Olson announced that she would hold a series of…
Read more about Public Forum to Address the Need for Taxpayer Services
January Incidents Jump from 254 in 2015 to 1,026 in 2016IRS Commissioner Koskinen warned tax professionals and taxpayers alike about a significant surge in online tax-related fraud, noting that the…
Read more about IRS Reports 400% Increase in Phishing Attempts This Year
Signed into law on March 23, 2010, the Patient Protection and Affordable Care Act (also known as the Affordable Care Act, ACA, or ObamaCare) has been in effect for long enough for most of the issues…
Read more about ACA Update: How it Will Affect Tax Professionals
Failure to File and Reconcile Addressed by February 5 GuidanceOn Friday, the Centers for Medicare and Medicaid Services (CMS) announced a special enrollment period for those who are not enrolled in…
Hardware Failure ResolvedThe IRS is once again accepting e-filed returns following the outage reported on Thursday. At the time of the outage, the agency seemed confident that the apparent hardware…
