Drake Software blog for tax pros, covering tax, IRS news, and more
A new notice from the Internal Revenue Service reveals some new rules that are expected to be included in upcoming proposed regulations.…
Read more about New Guidance Clears Up Partnership Deduction for State, Local Taxes
The Internal Revenue Service closed out September by announcing the publication of final regulations for the business-related entertainment deductions that were removed from section 274 by the Tax Cuts and Jobs Act.…
Read more about Final Regulations for Business Meals and Entertainment Deductions Now Available
An organization that tracks charitable giving in the U.S. says it appears the new tax reform measures were a factor in decreasing donations to America’s charities.…
Read more about Charitable Giving Down in Wake of Tax Reform
We invited Jim Lowe, EA to the Taxing Subjects Podcast studio to discuss how his filing season went. This episode coincides with the “How Did Your Filing Season Go?” survey that we sent to more than 5,000 tax professionals around the country.…
Read more about Jim Lowe, EA Discusses the 2019 Filing Season – E28
A lot has been said and written about the tax reform legislation that went into effect in 2017. Termed the Tax Cuts and Jobs Act, the new law made some big changes to the tax code aimed at helping business. But despite the press attention, the law’s bottom line for business isn’t always easy to predict.…
Read more about IRS Adds Tax Reform Resources for Businesses on its Website
Guidance issued by the Internal Revenue Service shows tax reform legislation that took effect in 2018 pushes the caps on contributions to higher levels in 2019.…
Read more about Tax Reform Expands Retirement Contribution Limits
The tax reform bill passed before the end of 2017, meaning that clients may have questions about how it impacts their tax liability in the years to come.…
Read more about John Sapp & Cindy Hockenberry Talk Tax Reform - EP5
New Rules Allow DeductionsRegulations issued under T.D. 9696 finalize rules the IRS put into effect in 2012 allowing employees to deduct certain expenses paid or incurred for local lodging as business…
Read more about IRS Allows Deduction for Local Lodging Expenses
Budget Talks Complicate Tax ReformThe top congressional tax writers are now facing just the latest wrinkle in their efforts to rewrite the code: a budget conference. So writes blogger Bernie Becker…
Building Support for Tax ReformThe country’s top tax writers were in Memphis for the fourth instalment of their national tour seeking to boost support for tax reform, The Hill newspaper reports.…
