Drake Software blog for tax pros, covering tax, IRS news, and more
A new notice from the Internal Revenue Service gives companies that make and sell sport fishing or archery equipment more time to pay their quarterly excise taxes.…
Read more about IRS Gives Extra Line to Sport Fishing, Archery Equipment Companies
More and more, tax professionals are relying on working remotely, also known as teleworking, in order to stay connected with clients and remain productive.…
Taxpayers can dip into Coronavirus Aid, Relief, and Economic Security Act-specified retirement accounts without suffering a penalty, according to an Internal Revenue Service press release published yesterday. This reminder comes just days after the $600 unemployment benefits included in that legislation expired.…
Read more about CARES Act Allows Penalty-Free Withdrawals from Some Retirement Plans
Many states are rolling back reopening plans, and the looming flu season could present additional complications. That’s why the Internal Revenue Service and Security Summit partners are developing a five-week data security campaign that focuses on remote work.…
Read more about IRS Announces New Security Summit Remote-Work Campaign
Drake Software Director of Education Christine Reynolds and Drake Software Sales Representative Byron McClure discuss how Drake is handling training and demonstrations during the pandemic.…
Read more about Drake Software Online Training and More – E47
The office closures suffered by the Internal Revenue Service during the opening weeks of the coronavirus pandemic lead to a near shutdown of the agency’s audit program, a new report suggests.…
The Internal Revenue Service has some bad news for taxpayers hoping that the tax filing and payment deadlines would get pushed back again.…
The Internal Revenue Service last Thursday announced that it is beginning to process Centralized Authorization File requests, like Forms 2848 and 8821.…
Read more about IRS Processing CAF Requests, Reducing Backlog
The COVID-19 pandemic has forced millions of Americans to take extraordinary steps just to stay afloat financially. For those taxpayers who might want to take distributions against their retirement plans or even borrow against their plans, the IRS has announced new relief.…
Read more about IRS Unveils New Relief for COVID-19 Retirement Borrowers
An unforeseen consequence of the COVID-19 pandemic is pushing the IRS due date for some payments back a bit.…
Read more about IRS Mail Backup Leads to Extended Payment Dates
