Drake Software blog for tax pros, covering tax, IRS news, and more
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.…
The Internal Revenue Service says it is in the process of hiring 3,500 additional telephone representatives so that taxpayers can get answers to their questions about Economic Impact Payments.…
The Small Business Administration says the PPP loan-forgiveness application is now available on SBA.gov.…
Read more about Now Available: Paycheck Protection Program Loan-Forgiveness Application
The IRS wants help spreading the word about Economic Impact Payments.…
Read more about IRS Sends EIP Information Packets to Partner Organizations
The IRS announced that close to 130 million taxpayers have now received an Economic Impact Payment—up from the 88 million toward the end of April—bringing the total amount of money issued to more than $200 billion.…
Read more about IRS Breaks Down Economic Impact Payments by State
