Drake Software blog for tax pros, covering tax, IRS news, and more
It’s time once again to honor our veterans, those men and women who have defended our American way of life all over the globe. That’s a big job, and giving service members special breaks on their taxes is one of the ways we as a nation say "thank you."…
Read more about Armed Forces Members Reminded They Get Special Breaks at Tax Time
Tax professionals are being warned about a phishing scam aimed at them that poses as a chummy message from the Internal Revenue Service. This new email threat starts with a bogus email message carrying the title “Security Awareness for Tax Professionals.” The “From” line is “Your e-Services Team.”…
If you’ve thought lately about just how much America’s biggest corporations face on their income tax returns, the answer might surprise you. The website WalletHub has completed its annual Corporate Tax Rate Report for companies on the S&P 100 – the biggest and most established firms out there.…
Members of the Security Summit say their efforts are being rewarded with a marked improvement in the battle against identity theft and tax fraud. The group – made up of tax industry partners and state tax agencies who work with the Internal Revenue Service – helped the IRS develop new strategies that have borne fruit in 2016.…
Read more about Online Security Measures Showing Positive Results
A new report estimates that on-demand lodging site Airbnb would owe $440 million if state-level taxes were paid on its current listings in all 50 states.…
Read more about New Report Claims AirBnB has a Whopper of a State Hotel Tax Bill
Employers and small businesses should remember that Forms W-2 have a new filing deadline for tax year 2016. As part of the legislation passed last December, W-2 forms must be filed with the Social Security Administration no later than Jan. 31, 2017.…
Read more about Reminder: Forms W-2 Now Due to Social Security Administration (SSA) by January 31
A three-year federal investigation ended recently with the indictments and arrests of 56 people in the U.S. and India who are accused of running a major IRS-impersonation phone scam. Five call centers were raided in India with the cooperation of the Indian authorities.…
Read more about Bust on Scammers in India Wins Praise from Inspector General
With Halloween just a few days away, we’re edging closer to Thanksgiving dinner, Christmas music in retail stores, and – for tax preparers – expiring Preparer Tax Identification Numbers (PTINs).…
An audit by the Treasury Inspector General for Tax Administration (TIGTA) shows that a lack of enforcement by the Internal Revenue Service allows billions in income to go untaxed.…
Read more about Lack of Enforcement Allows Billions to Slip by IRS
Online Travel giant Expedia is the biggest loser in a judgement that orders the biggest Online Travel Companies (OTCs) to pay nearly $460,000 to the village of Lombard, Illinois. Bloomberg BNA reports that Expedia’s share of the judgement is $386,000, while smaller sites – Priceline.com, Hotels.com and Hotwire – are in for smaller price tags.…
