Drake Software blog for tax pros, covering tax, IRS news, and more
The Internal Revenue Service has issued technical guidance for the following issues: Notice 2014-78 provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates,…
Read more about IRS Publishes Technical Guidance On Four Issues
IRS YouTube Videos:Required Withdrawals from Your IRA: English | Spanish | ASLPodcasts:Required Withdrawals from Your IRA: English | SpanishIR-2014-112, Dec. 8, 2014WASHINGTON — The Internal Revenue…
Read more about Most Retirees Need to Take Required Retirement Plan Distributions by Dec. 31
WASHINGTON -- The Treasury Inspector General for Tax Administration (TIGTA) publicly released its audit report on the effectiveness of the Internal Revenue Service’s (IRS) efforts to increase the…
Effect of Sequestration on Small Business Health Care Tax Credit - Tax-Exempt Employers OnlyDue to sequestration, refund payments issued to certain small tax-exempt employers claiming the refundable…
Read more about ACA Basics Effect of Sequestration on Small Business
What May and May not be Deducted as a Business ExpenseOne of the thornier questions at tax time centers on what may and may not be deducted as a business expense. The rules change frequently, in…
Under some Circumstances, you won’t have to make the paymentMost people must have health coverage or pay a fee (also known as “the penalty,” the “individual shared responsibility payment,” or the…
Read more about ACA Basics – Fee Exemptions for Not Having Coverage
Move Surprises Those Following the CaseThe US Supreme Court has elected to take up the issue of tax credits given to users of the federal health exchange, setting the stage to resolve one of the most…
Read more about Supreme Court Takes Up Obamacare Subsidies Appeal
Scam Phone Calls Continue; IRS Unveils New Video to Warn Taxpayers IRS YouTube Video:IR-2014-105, Oct. 31, 2014WASHINGTON — As incidents of an aggressive telephone scam continue across the country,…
Read more about Scam Phone Calls Continue; IRS Unveils New Video to Warn Taxpayers
As of May 2, 2014, the IRS Received More than 135.5 Million Individual Income Tax ReturnsWASHINGTON – The Treasury Inspector General for Tax Administration (TIGTA) released its annual review of the…
Read more about Key Tax Provisions Were Implemented Correctly for the 2014 Filing Season
Does Your Customer’s Health Insurance Meet The Minimum Standards? The Affordable Care Act calls for individuals to have qualifying health insurance coverage for each month of the year, have an…
