Drake Software blog for tax pros, covering tax, IRS news, and more
If your clients bought health care coverage through the Health Insurance Marketplace for this year, they may have chosen to have advance payments of the premium tax credit paid directly to the…
Read more about Tweaking Your Clients’ Advance Premium Tax Credit Payments
Members of the U.S. Armed Forces deserve the thanks of the nation for their service, and one small way we can show our thanks is by giving those who serve a small measure of tax relief.In some cases,…
The Internal Revenue Service has gone to court to face Facebook to cooperate with its investigation into the transfer of assets to an Irish subsidiary. The probe, first detailed on CNN Money, is…
Read more about Facebook Under IRS Scrutiny for Questionable Transfer of Assets to Ireland
The Massachusetts State Senate is looking at a bill that would install a tax on rooms rented through AirBnB to help the state pay for an increase in its Earned Income Credit.According to MassLive, the…
Read more about Massachusetts Senate Considers AirBnB Tax to Help Finance Earned Income Credit
When we change jobs, we normally lose access to the buildings and electronics we may have used for our former employer. However, a new audit report from the Treasury Inspector General for Tax…
The IRS Future State Plan features prominently in the first volume of yesterday’s Fiscal Year 2017 Objectives Report to Congress from National Taxpayer Advocate Nina Olson. Three subjects of the…
The Government Accountability Office (GAO) has issued a report that says IRS measures still fall short when it comes to protecting the personal information of taxpayers. While the 50-page report…
Read more about GAO Finds IRS Should Do More to Protect Taxpayer Information
An audit by the Treasury Inspector General for Tax Administration says the Internal Revenue Service isn’t assessing its volunteer income tax preparers as it should.The Volunteer program provides…
Read more about Audit Finds IRS Not Adequately Checking Volunteer Tax Preparer Program
The IRS yesterday issued a reminder to taxpayers who receive premium tax credit (PTC) advance payments, noting that some circumstance changes could result in the household owing additional money next…
Read more about IRS: PTC Payment Recipients Should Report Changes in Income or Family Size
The first in a series of IRS Nationwide Tax Forums kicks off July 14 in Chicago, with Commissioner John Koskinen delivering the event’s keynote address.The forums are three-day events providing tax…
Read more about IRS Commissioner Headlines Chicago Nationwide Tax Forum
