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Drake Software blog for tax pros, covering tax, IRS news, and more

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Jami Gibson Talks Passwords – EP8

Ryan Norton - March 20, 2018
Jami Gibson Talks Passwords – EP8

Passwords tend to be something people dread. What’s the correct length? How many characters? Are Shakespeare quotes a good idea? Luckily, our latest podcast guest was able to provide some…

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Things to Remember About Early Withdrawals from Retirement Plans

Bob Williams - March 15, 2018
Things to Remember About Early Withdrawals from Retirement Plans

Somewhere between the time we start our work careers and the time we finally retire, life happens. During that time span, many taxpayers feel the need to dip into their Individual Retirement Account…

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Winter Storms Prompt IRS to Grant Relief to Businesses

Bob Williams - March 13, 2018
Winter Storms Prompt IRS to Grant Relief to Businesses

It’s been a rough winter for residents of the Northeast: three severe winter storms in just two months. Fortunately, the IRS is helping to take a little of the bite out of the winter wind for those most affected.…

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$1 Billion in Refunds Still Unclaimed from 2014 Returns

Bob Williams - March 08, 2018
$1 Billion in Refunds Still Unclaimed from 2014 Returns

About a million taxpayers could have some cash waiting for them, provided they file their 2014 income tax returns.…

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Court Case Highlights IRS Process Change

Bob Williams - March 07, 2018
Court Case Highlights IRS Process Change

A recent court case highlights reasons behind a change in IRS procedure in how the Office of Professional Responsibility (OPR) deals with complaints.…

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Survey Finds Highs, Lows in Property Taxes

Bob Williams - March 01, 2018
Survey Finds Highs, Lows in Property Taxes

In a year where income taxes have been a big headline-grabber, a new survey shows a couple of other directions our money goes. WalletHub, a financial information and education site for consumers, puts together a list of the best and worst states for real-estate property taxes every year.…

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Coming to Bank Accounts Soon: EITC and ACTC Refunds

Bob Williams - February 27, 2018
Coming to Bank Accounts Soon: EITC and ACTC Refunds

The first of many refunds claiming the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC) should make their way to their respective taxpayers very soon. The Internal Revenue Service says some returns have cleared the verification process and could appear in bank accounts this week.…

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IRS is Ready to Process Some Tax Extenders

Ryan Norton - February 26, 2018
IRS is Ready to Process Some Tax Extenders

The $400 billion Bipartisan Budget Act that President Trump signed on February 9 retroactively renews several 2017 tax benefits, including three the IRS believes taxpayers are most likely to claim early in tax season.…

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IRS Fielding Flood of "Inappropriate" Calls to e-Help Desk

Bob Williams - February 23, 2018
IRS Fielding Flood of "Inappropriate" Calls to e-Help Desk

The Internal Revenue Service’s e-Help Desk was set up to handle questions from income tax professionals. But the agency says the desk is getting flooded with calls from taxpayers who were told to call by their tax preparers.…

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CPA Practice Advisor 2018 Readers’ Choice Awards Results

Ryan Norton - February 21, 2018
CPA Practice Advisor 2018 Readers’ Choice Awards Results

CPA Practice Advisor released the results of their 2018 Readers’ Choice Awards, an annual survey of readers’ opinions on tax preparation software and hardware that began in 2004.…

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