Drake Software blog for tax pros, covering tax, IRS news, and more
The Internal Revenue Service says its Affordable Care Act Information Returns system—also known as AIR—will be unavailable over the weekend while maintenance is carried out.…
Read more about AIR System to go Down for Maintenance, IRS Says
The Internal Revenue Service has made some 18 new seminars available that were originally recorded during the 2020 Nationwide Tax Forums.…
Read more about Recorded Seminars Available from 2020 Tax Forums
It’s a first for the Internal Revenue Service. The agency is adding barcode technology to the printed notices that are sent to millions of taxpayers that let them know they owe Uncle Sam money.…
Taxpayers who filed an extension are reminded that the deadline to file their 2019 taxes is looming. Oct. 15 is the deadline to file those tax returns.…
Read more about Curtain is Set to Come Down on 2020 Tax Season
Americans who don’t normally file a tax return now have more time to apply for an Economic Impact Payment (EIP). The Internal Revenue Service this week announced that the deadline for non-filers to send EIP-qualifying information has been extended to November 21, 2020.…
Cybersecurity pioneer and crypto promoter John McAfee can now add another title to his job description: defendant.…
As we’ve mentioned before, the Internal Revenue Service has been fighting abusive tax shelters that use syndicated conservation easements as their main vehicle. More details have now been released on how their prosecution may unfold.…
Read more about IRS Gives Details on Syndicated Conservation Easement Settlements
Achieving a Better Life Experience (ABLE) accounts now have final regulations from the Internal Revenue Service. Published last Thursday, this is the latest in a series of recently published final regulations that address changes to programs and rules affected by the 2017 Tax Cuts and Jobs Act.…
Read more about IRS Announces ABLE Account Final Regulations
Drake Software gathers important, regularly accessed tax information for tax professionals in an annually released desk reference guide. The Drake Software 2020 Desk Reference Guide includes a preseason checklist, due diligence requirements, MACRS recovery periods, medical account information, filing requirements, and much more.…
Final regulations for the default rate of individual income withholding for certain periodic retirement and annuity payments that are made in 2021 are now available.…
