Drake Software blog for tax pros, covering tax, IRS news, and more
The third installment of the Security Summit’s 2021 “Protect Yourself; Protect Your Client” campaign highlights recent scams targeting unemployment compensation. As part of a five-week focus on identity theft prevention, the Summit is once again asking tax professionals to help spread the word to clients.…
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Millions of Americans paid taxes on their unemployment compensation before learning that an exclusion was introduced by legislation a month into filing season. So, the Internal Revenue Service is now sending some of those taxpayers a refund to satisfy the new law.…
Read more about IRS Refunding Tax Paid on Unemployment Compensation
President Biden signed into law the $1.9 trillion American Rescue Plan Act of 2021, which includes a number of tax-related provisions that lawmakers say will help struggling Americans weather the pandemic recession.…
It won’t be long before the Internal Revenue Service opens its gates and the filing season will be officially underway.…
Read more about Gathering Records Is the First Step in Tax Preparation
With 2020’s extended tax deadlines due to the coronavirus pandemic, it seems like we just wrapped up the previous tax season. But believe it or not, the next filing season kicks off Jan. 1, 2021.…
Read more about Get Started Now to Make Next Tax Season Easier
