Drake Software blog for tax pros, covering tax, IRS news, and more
The National Association of State Boards of Accountancy (NASBA) on Tuesday announced that it was recommending state boards of accountancy across the country extend their CPE-completion deadlines to accommodate accountants affected by COVID-19 disruptions.…
Distribution of the federal government’s economic impact payments, meant to counter the economic effects of the coronavirus pandemic in the U.S., is scheduled to start in the coming weeks, according…
COVID-19 has disrupted life for Americans across the country, and as we’ve seen in recent weeks, the tax industry is not immune to change.…
Read more about IRS Implements New Signature Policy due to COVID-19
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.…
Scammers are trying to capitalize on millions of taxpayers anticipating stimulus money by deploying phone- and email-based phishing scams.…
Read more about Tax Industry Warns of Stimulus Payment Scams
Businesses across the country are grappling with the challenges of limiting social contact, and the Internal Revenue Service is no exception.…
Read more about IRS Temporarily Suspends Three Phone Support Lines, IVES Request Processing
The agency has shut down all Taxpayer Assistance Centers and discontinued face-to-face service throughout the country until further notice.…
The Treasury Department, along with the IRS and the U.S. Department of Labor, have unveiled a package of tax credits for small and midsize employers can use to “immediately and fully” reimburse them, dollar-for-dollar, for the cost of providing Coronavirus-related leave to employees.…
Read more about Treasury Announces Tax Credits for Virus-Hit Businesses
Treasury Secretary Steven Mnuchin announced on Twitter that taxpayers now have an additional 90 days to file their tax returns.…
Read more about Treasury Secretary Mnuchin Announces New Filing Deadline
COVID-19 has disrupted daily life for taxpayers across the country. Whether due to school closures or businesses shutting down, change is the one thing that feels inevitable.…
Read more about COVID-19 Causes Delay of Tax Payment Deadline
