Drake Software blog for tax pros, covering tax, IRS news, and more
According to Revenue Ruling 2015-13, April 18 will be the filing deadline for most of the country in 2016. Since Emancipation Day – a legal holiday in D.C. – falls on a Saturday, it will be observed…
The Treasury Inspector General for Tax Administration identified $5.6 billion in credits from 2012 that were wrongly issued to taxpayers who failed to file Form 1098-T, attended schools that weren't…
Read more about TIGTA Takes IRS to School: Education Credits Wrongly Issued
Yesterday, the IRS issued a reminder to some tax-exempt organizations: May 15 is the deadline to submit Forms 990, 990-EZ, or 990-PF. If those affected miss this deadline, it could result in the loss…
The Internal Revenue Service has released the 2014 Annual Business Report of its Criminal Investigation Division, which chronicles the priorities, staffing, and organization of the division as well as…
On Wednesday, April 22, IRS Commissioner John Koskinen submitted written testimony to the House Ways and Means Committee assessing the IRS's performance during filing season. He opened his report by…
Read more about IRS Commissioner: Customer Service Issues Stem from Budget Cuts
At any time in the next 10 weeks – probably on a Monday or Thursday – the US Supreme Court will announce its decision in the case of King v. Burwell, the current challenge by opponents to the Patient…
Yesterday, the IRS released advice for amending a federal tax return. Among the ten tips, the article highlights the circumstances necessitating an amended return, the number of forms needed, how long…
Read more about Strike That: IRS Guidance for Amending a Return
Yesterday the IRS provided advice for submitting returns just before – or on – April 15, listing seven steps to follow:Determine eligibility for tax credits.Document health care coverage status. Make…
The Internal Revenue Service currently suffers from both the animosity many citizens bear toward the government’s collection agency and a series of political, legal, constitutional, and public…
If you have certain kinds of debt, including federal and state back taxes, child support, and student loans, then the Bureau of the Fiscal Service (BFS) – part of the Department of Treasury – can use…
