Drake Software blog for tax pros, covering tax, IRS news, and more
Termination III – Firing clientsBy James StorkVP of Education, Drake Software Sooner or later, every firm has to fire a client. That’s counter-intuitive, because one of the most powerful tenets in…
IRS: Michael Jackson Assets UndervaluedThe Internal Revenue Service has filed documents in US Tax Court claiming that Michael Jackson’s estate has severely undervalued his image and music catalog,…
White House delays health insurance mandate for medium-sized employers until 2016The Obama administration announced it would give medium-sized employers an extra year, until 2016, before they must…
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Appeals Court Rules In Favor Of Independent Tax PreparersThe Circuit Court of Appeals for the District of Columbia today ruled that the IRS has no legal authority to impose nationwide licensing and…
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Inspector General: ACA Will Pose Challenges for IRSThe Office of the Treasury Inspector General (TIGTA) has released a report indicating that when the IRS assumes responsibility for customer service…
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Report on SEC Accounting and Finance Enforcement If the public statements of the SEC Commissioners and staff are to be believed, brace yourself for the coming wave of financial reporting and…
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Ten Questions Tax Preparers Should Be Ready To Answer The media, the Internal Revenue Service and Attorneys General of many states have focused on fraud committed by tax preparers. While the relative…
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Former IRS Employee Pleads Guilty to Claiming $1.7M in Fraudulent Tax Refunds The Internal Revenue Service, which has made a concerted effort in recent years to pursue tax preparers engaged in filing…
Number of PTIN Holders Up 50,000 Accounting Today reports that the IRS Return Preparer Office has updated total numbers of federal return preparers who hold PTINs. According to the RPO, 743,331…
IRS Kicks Off 2014 Tax Season; Individual Returns Can Be Filed Now; Free Online Services Available to Help With Filing, Refunds, EITC WASHINGTON — The Internal Revenue Service today opened the 2014…
