Drake Software blog for tax pros, covering tax, IRS news, and more
Many taxpayers, particularly those in the middle class, breathed a brief sigh of relief when Congress passed legislation to keep their income taxes from rising. What they may not have realized, however, is that workers will have to pay at least two percent ...…
Would you like to be a hero to your taxpayers? Offer a few tips to them about deductions they may not know about. Include a list of possible deductions in a pre-season email reminder or include them in a list of hot topics on your website – this will help them prepare for their office visit and help them build their trust in you. Here are a few examples of those things taxpayers often miss……
The IRS processed more tax returns using the new system during the 2012 filing season, according to a report from the Treasury Inspector General for Tax Administration (TIGTA); however...…
Because of the susceptibility of these credits to fraud, and the low success rates in recovering erroneous credits once refunds have been issued, the IRS should take every reasonable step possible to identify potentially questionable credits ...…
Read more about IRS Tightening Controls over Refundable Tax Credits
Zero installs. Zero updates. Zero backups. It is now possible at an affordable price with Drake Software’s online tax preparation solution – Drake Zero. Drake Zero has all the features tax professionals need to prepare individual tax returns. Drake Zero is a web application software.…
Here are some tips any business owner can follow to get more referrals:…
Read more about Get Referrals by Following the Law of Contribution
An international computer hacker recently broke into the South Carolina Department of Revenue database and gained access to over 3.6 million state income tax returns...…
The deadline to register for or renew your PTIN (Preparer Tax Identification Number) for 2013 is December 31, 2012. All paid tax preparers must have a PTIN and it must be renewed annually. This year ...…
Taxpayers across the income spectrum – from rich to poor – are set to see tax hikes due to several expiring tax cuts and the automatic spending reductions taking place on January 1, 2013...…
The IRS is fine-tuning procedures for collecting and releasing the information they gather during Preparer Tax Identification Number (PTIN) registration...…
