Drake Software blog for tax pros, covering tax, IRS news, and more
The IRS announced that close to 130 million taxpayers have now received an Economic Impact Payment—up from the 88 million toward the end of April—bringing the total amount of money issued to more than $200 billion.…
Read more about IRS Breaks Down Economic Impact Payments by State
The U.S. Treasury Department has found a loophole in the stimulus payments sent out to individuals. Some of the recipients were actually deceased—and Treasury wants that money back.…
Read more about Treasury Wants Payments to Deceased Taxpayers Returned
The Internal Revenue Service reminded low-income Americans who don’t normally file a tax return that they are probably eligible to receive an Economic Impact Payment.…
Read more about IRS Urges Low-Income Non-Filers to Use EIP Reporting Tool
The Internal Revenue Service today issued a “plus $500” last call for Supplemental Security Income and Veterans Affairs beneficiaries who can claim dependents as part of their Economic Impact Payment.…
Read more about IRS Issues “Plus $500” Last Call for SSI, VA Beneficiaries with Dependents
The U.S. Treasury Department and the Internal Revenue Service say they’ve delivered 88 million stimulus payments to taxpayers during the first three weeks of the program.…
The Treasury Department recently dispelled some uncertainty regarding how it would handle economic impact payments for Americans on Social Security.…
Read more about Treasury Clarifies Economic Impact Payments for Americans on Social Security
The coronavirus pandemic has pushed the IRS to order its workforce to work from home. The IRS issued an email announcing the shift and Accounting Today magazine obtained a copy of the email.…
The Centers for Medicare & Medicaid Services (CMS) recently published a blog discussing reissued Forms 1095-A by the Treasury. In February, Forms 1095-A containing inaccurate information were sent to…
Read more about Relief for Recipients of Inaccurate Forms 1095-A
