Drake Software blog for tax pros, covering tax, IRS news, and more
WASHINGTON -- The Treasury Inspector General for Tax Administration (TIGTA) publicly released its audit report on the effectiveness of the Internal Revenue Service’s (IRS) efforts to increase the…
Video: What If?People facing financial difficulties may find that there's a tax impact to events such as job loss, debt forgiveness or tapping a retirement fund. For example, if your income decreased,…
The US Department of Homeland Security (DHS) Has Issued a Warning of a New “Trojan Horse” Virus The US Department of Homeland Security (DHS) has issued a warning of a new “Trojan Horse” virus that has…
Delays ContinueDelays Continue in Completing Agreements to Share Information With Prisons, and Reports to Congress Are Not Timely or CompleteWASHINGTON – Tax refund fraud associated with prisoner…
Effect of Sequestration on Small Business Health Care Tax Credit - Tax-Exempt Employers OnlyDue to sequestration, refund payments issued to certain small tax-exempt employers claiming the refundable…
Read more about ACA Basics Effect of Sequestration on Small Business
For Not Having Health Coverage If any of the following circumstances apply to you, you may qualify for a “hardship” exemption from the penalty:You were homelessYou were evicted in the past 6 months or…
Over the Outside Employment of IRS EmployeesWASHINGTON – The Internal Revenue Service (IRS) has insufficient controls over the outside employment or business activities of its employees, according to…
You May be in for a Big Surprise!Consumers who avoided signing up for a qualified health care plan under the Affordable Care Act may be in for a rude surprise. It turns out that the widely-quoted $95…
Read more about ACA Basics – Tax Penalties Loom For Those Not Registered
Be Prepared for Tax Season A well-organized office that has prepared for the upcoming months can make the sailing much smoother during a fast-paced time. Here are some other important steps you can…
Second Open Enrollment PeriodAccording to a November 2014 Kaiser Family Foundation article, many uninsured Americans do not know when the open enrollment period for acquiring insurance begins this…
