Drake Software blog for tax pros, covering tax, IRS news, and more
WASHINGTON — The Internal Revenue Service is releasing a revenue procedure today providing rules for the nationwide rollout of post-Appeals mediation for Offer in Compromise (OIC) and Trust Fund…
Read more about Post-Appeals Mediation For Offers in Compromise Available Nationwide
On Tax IssuesThe Internal Revenue Service has issued technical guidance on three tax issues:Revenue Procedure 2014-62 announces the indexed applicable percentage table in Section 36B(b)(3)(A) of the…
A new revision of the Form 656-B booklet, with forms and instructions for submitting an Offer in Compromise (OIC), will be available on IRS.gov in January. The use of earlier versions after Jan. 1…
New Documents Help Tax PreparersThe Internal Revenue Service has released three documents designed to assist tax preparers in working with their clients, and best practices with regard to Individual…
Read more about ACA Basics – IRS Resources and Best Practices for Tax Preparation Professionals
Washington, DC – Ways and Means Committee Chairman Dave Camp (R-MI) and Ranking Member Sander Levin (D-MI) introduced the Taxpayer Protections Against Abusive Seizures Act, legislation that provides…
WASHINGTON – The Internal Revenue Service (IRS) appropriately used its legislative authority to temporarily hire employees at salaries higher than those typically given to Federal Government senior…
Read more about TIGTA Report Says IRS Hires Critical Executives At Salaries Higher Than Typical
Public Accounting Act Determines Qualifications for Illinois Tax PreparersThe Illinois House of Representatives and Senate have now approved legislation that will set the foundation for a program to…
Read more about Illinois Moves To Regulated Tax Return Preparers
Important Tax Law Provisions Have Taken Effect in Recent YearsWASHINGTON ― The Internal Revenue Service today reminded individuals and businesses making year-end gifts to charity that several…
Consumer Protection Initiative Aims to Train Tax PreparersContinuing education is phase two of New York’s first tax preparer regulations; training is vital because 70% of New Yorkers hire tax…
Read more about NYS Tax Department Launches NY’s First Tax Preparer Continuing Education Program
Companies that Provide Mass Transit Passes as Fringe Benefits to EmployeesThe Internal Revenue Service has issued a new revenue ruling, 2014-32, on companies that provide mass transit passes as fringe…
Read more about IRS Issues Revenue Ruling on Employee Mass Transit Benefits
