Drake Software blog for tax pros, covering tax, IRS news, and more
April 15 is just around the corner, but there is still time to make sure clients have submitted the proper forms to secure the credits they are due. The IRS recently published a tax tip checklist to…
This week, the IRS began sending letters to tax return preparers who have violated PTIN rules, targeting two groups in particular. Preparers who receive Letter 4732 filed tax returns using their…
The Centers for Medicare & Medicaid Services (CMS) recently published a blog discussing reissued Forms 1095-A by the Treasury. In February, Forms 1095-A containing inaccurate information were sent to…
Read more about Relief for Recipients of Inaccurate Forms 1095-A
BBC News reported yesterday that by 2020 the UK will replace physical, mailed tax returns with online accounts. Government-issued logins will allow taxpayers to submit tax details all year long, and…
Given recent reports of ID theft-related tax fraud, it's no wonder that some taxpayers are wary after receiving what appears to be a letter from the IRS requesting personal information. You might have…
A recent warning issued by the IRS alleges fraud is being perpetrated by unethical tax preparers targeting Spanish-speaking taxpayers who lack fluency in English. The IRS cites reports of tax…
The newest IRS guide, "Still Time to Contribute to an IRA for 2014," briefly covers some differences between traditional and Roth IRAs, including how much taxpayers may contribute to their respective…
Read more about IRS Discusses IRAs in Newest "Tax Time Guide"
The IRS released a notice for small businesses employing less than 25 people, outlining how they may be able to take advantage of the Small Business Health Care Tax Credit. The "Tax Tip" covers the…
Read more about IRS "Tax Tip" Covers Small Business Health Care Tax Credit
The IRS reported that roughly one million taxpayers did not file their 2011 federal income tax returns, resulting in $1 billion in unclaimed refunds. IRS Commissioner John Koskinen stated that student…
Today, the IRS released another "Tax Time Guide" aiming to streamline filing season. The press release advises taxpayers to check "Where's My Refund?" for information regarding their tax return;…
Read more about IRS Service Updates Refund Status via Website, App
