Drake Software blog for tax pros, covering tax, IRS news, and more
The Internal Revenue Service recently announced more than two dozen upcoming webinars that will replace the in-person IRS Nationwide Tax Forum events.…
Read more about What Did Tax Pros Say About Virtual Tax Forums?
This audit looked specifically at whether the IRS is effectively addressing high-income nonfilers and if the agency’s new nonfiler strategy includes wealthy nonfilers.…
Read more about TIGTA Finds Lapse in High-Income Nonfiler Audits
The Internal Revenue Service and the Treasury Department have issued proposed regulations to help businesses navigate new carbon capture credits.…
Read more about IRS Unveils Proposed Regulations for Carbon Capture Credits
If you would prefer to electronically file the stack of Forms 1040-X sitting on your desk, the Internal Revenue Service has some good news.…
Read more about IRS Announces E-File Support for Form 1040-X
The Internal Revenue Service has issued rules and guidance covering two disparate tax areas: renewable energy and retirement payments.…
Read more about IRS Issues Guidance on Renewable Energy Projects, Retirement Withholding
When the Internal Revenue Service moved the 2020 deadline for filing individual income tax returns from April 15 to July 15, it apparently also gave millions of taxpayers a green light to wait until the last minute to file their taxes.…
The Treasury Department has issued an additional $41 billion in Economic Impact Payments since May 8, 2020.…
Read more about IRS Updates Economic Impact Payment Statistics
Five Connecticut men have been indicted in a series of fraud schemes that targeted the elderly, bilking them out of more than $4 million.…
The Treasury Department announced that “EIP Cards” will be issued to some Economic Impact Payment recipients.…
Read more about Treasury Sending Prepaid Debit Cards to Some EIP Recipients
The Inspector General’s auditors looked at 49 vouchers from the 2018 fiscal year that included expenses from undercover travel.…
