Drake Software blog for tax pros, covering tax, IRS news, and more
It’s a new year and a new filing season. That means the Internal Revenue Service is hard at work fighting some long-running scams aimed at tricking taxpayers out of their hard-earned money.…
A status report from the IRS shows income tax returns are being filed at a much slower rate than last year. But unlike in 2020, an extension to the April 15 filing deadline is unclear.…
Read more about Filing Numbers Down; Chance of Extended Deadline Unclear
Ask most people what they thought of 2020, and the response is likely to be something like, “disastrous,” “catastrophic” — even “unprecedented.”…
Read more about Annual Report Finds IRS Rose to Challenges of an “Unprecedented” Year
Internal Revenue Service Commissioner Chuck Rettig had high praise for the nation’s tax professionals this week, as he addressed the IRS Nationwide Tax Forum.…
Read more about IRS Commissioner Praises Tax Pros for Handling “Challenging” Tax Season
The IRS wants help spreading the word about Economic Impact Payments.…
Read more about IRS Sends EIP Information Packets to Partner Organizations
The IRS has unveiled a large series of steps providing relief on a number of fronts, ranging from easing payment guidelines to postponing compliance actions.…
The Internal Revenue Service has released its annual report for 2019, giving Commissioner Chuck Rettig a chance to explain the improvements implemented in the American tax system in the last year.…
Read more about IRS Annual Report: Tax Changes and Enforcement
The Government Accountability Office (GAO) says it has some suggestions for the IRS that could make significant improvements in the agency’s operations.…
In January, the IRS announced it was lowering the threshold for applying the estimated tax penalty from 90 percent to 85 percent. This change was designed to shield taxpayers who were already getting an unexpected tax bill due to tax reform from also owing a penalty. Last Friday, the IRS said they were lowering the threshold once again to provide penalty relief to even more taxpayers.…
Read more about IRS Lowers Withholding Penalty Threshold Again
Late yesterday afternoon, the Internal Revenue Service issued a press release revealing that January 28 will officially kick off the 2019 filing season.…
