Drake Software blog for tax pros, covering tax, IRS news, and more
IRS Contractor Employees Owe Millions in Tax Debts A report from the Treasury Inspector General for Tax Administration points out that the IRS’s own employees and contract employees are required under…
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Rutgers gets $1M for Accounting Center Three New Jersey brothers, all Rutgers alumni, contributed $1 million in honor of their father to create a center in accounting education and practice to open in…
Drake People Eddie Ensley, Federal Programmer“I get the Federal Calculation programming problems no one else can figure out,” says Eddie Ensley. “Like how depreciation works in our program, or how a…
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Form 8967 Now Obsolete – Trick or Treat?We recently wrote a blog to introduce the new Form 8967, Paid Preparer’s Child Tax Credit Checklist. Much to our surprise, the IRS announced today that the…
IRS Wastes Billions in Bogus Claims for Earned Income Tax Credit The Internal Revenue Service paid up to $13.6 billion in bogus claims for the Earned Income Tax Credit last year and as much as $132.6…
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IRS Releases Preliminary Report on ObamaCare Inquiries The IRS on Saturday reported handling more than 330,000 requests from ObamaCare exchanges to calculate whether Americans are eligible for federal…
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IRS Gives Drought-Stricken Farmers and Ranchers More Time to Replace Livestock The Internal Revenue Service said that farmers and ranchers who previously were forced to sell livestock due to drought…
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Government Debt Agreement Contains One Tax Law Change A number of changes to the tax law, all centered on implementation of the Affordable Healthcare Act, were considered before Congress passed the…
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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…
Protection Plus: Audit Protection For Your Tax PracticeBy James Stork VP of Education, Drake SoftwareThe IRS has increased its audits of professional tax preparation firms, attempting to stem a…
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