Drake Software blog for tax pros, covering tax, IRS news, and more
The Internal Revenue Service is following through on its pledge to protect the electronic information of taxpayers and preparers by beefing up the identity validation process used to access its…
A certification deadline is just days away for the Work Opportunity Tax Credit (WOTC), and that has spurred the Internal Revenue Service to urge employers to certify their new hires who qualify -…
Read more about Employers Urged to Take Advantage of Work Opportunity Tax Credit
No doubt about it, the idea that there are hordes of scammers out there trying to purloin the personal information belonging to you – and your clients – is the new normal. And while reports of the…
The Internal Revenue Service is sending letters to taxpayers who received advance payments of the premium tax credit in 2015 – but haven’t filed their tax return. Taxpayers must file a return to…
Read more about File Now to Stay Eligible for Advance Payment of Premium Tax Credit
The Government Accountability Office has issued a report that examines the quality of the guidance the Internal Revenue Service issues to taxpayers and preparers. The GAO faulted the IRS, the Treasury…
Read more about GAO Report Questions Quality of IRS Guidance, Rulemaking
An audit has found that the Internal Revenue Service has failed to notify taxpayers that they’ve been victims of a certain kind of identity theft. Making matters worse, the IRS isn’t always sending…
Read more about Some Identity Theft Victims Fall Through the Cracks
Tax professionals aren’t surprised when a new identity theft scheme makes the rounds, but fraudsters recently haven’t settled for just targeting taxpayers. When the Internal Revenue Service announced…
Read more about ID Thieves Again Target Preparers, Filing Fraudulent Returns
Taxpayers who install certain energy-efficient home improvements can cut their energy bills. But they can also cut their tax bills as well. Here are some enlightening facts about home energy tax…
Read more about Home Energy Tax Credits Help Save on Bills – and Taxes
When a taxpayer is looking for a new job within his or her existing line of work, some of the costs of that job search may be deductible. Here’s a quick refresher course on job search expenses.Same…
The Treasury Inspector General for Tax Administration (TIGTA) is recommending tighter controls by the IRS on the computer equipment issued to employees – especially laptops. The Inspector General…
Read more about Audit Finding: IRS Needs to Keep Track of Laptops When Workers Leave
