Drake Software blog for tax pros, covering tax, IRS news, and more
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
Legislation to Provide Opportunity for Americans with DisabilitiesThe US House of Representatives has passed H.R. 647, the Achieving a Better Life Experience Act’. The Act is designed to provide…
WASHINGTON — The Internal Revenue Service issued the 2015 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving…
Read more about New Standard Mileage Rates Now Available; Business Rate to Rise in 2015
The IRS recently released information about a number of announcements, rulings, and notices. Five of those items, Announcement 2014-34, Revenue Ruling 2014-29, Announcement 2014-38, Announcement…
Read more about IRS Publishes Technical Guidance on Five Issues
Goldwater Institute Challenges Independent Payment Advisory Board Washington—Today 25 members of Congress filed a “friend of the court” brief urging the U.S. Supreme Court to hear a legal challenge to…
Vitter will continue to push for a full vote on his No Washington Exemption legislationWednesday, December 10, 2014(Washington, D.C.) – The Senate Republican Conference accepted a rule proposed by…
Read more about Press Release: Republican Senators Vote to Treat Congress Equally Under Obamacare
The Internal Revenue Service has issued technical guidance for the following issues: Notice 2014-78 provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates,…
Read more about IRS Publishes Technical Guidance On Four Issues
An $11 billion bill that would permanently restore expired tax breaks for donations of food, charitable contributions from certain retirement accounts and for land conservation faced a sudden setback…
Read more about Permanent Charity Tax Breaks Face White House Veto
IRS YouTube Videos:Required Withdrawals from Your IRA: English | Spanish | ASLPodcasts:Required Withdrawals from Your IRA: English | SpanishIR-2014-112, Dec. 8, 2014WASHINGTON — The Internal Revenue…
Read more about Most Retirees Need to Take Required Retirement Plan Distributions by Dec. 31
Tax Preparers Consider New IRS ProgramDrake researchers conducted a short survey of over 7,000 tax preparers, including CPAs, EAs, attorneys, and non-credentialed participants, in light of the…
Read more about Annual Filing Season Program (AFSP) Survey Results Infographic
