Drake Software blog for tax pros, covering tax, IRS news, and more
Businesses that were wondering how to handle the upcoming “payroll tax holiday” created by a Presidential Memorandum signed earlier this month received an answer late last week.…
Read more about IRS Issues Guidance for Deferral of Employee Social Security Tax
The Internal Revenue Service has approved the use of e-signatures on certain forms that can’t be filed electronically. The move comes in response to the coronavirus pandemic, in order to protect the health of taxpayers and tax pros alike.…
Read more about IRS OKs Temporary Use of e-Signatures on Certain Forms
Some 50,000 individuals who had a portion of their Economic Impact Payment diverted to pay their spouse’s past-due child support will soon get a check to make up the difference.…
Read more about 50,000 to Get “Catch-Up” Economic Impact Payments
Taxpayers in California and Iowa have a little extra time to file their tax returns and pay tax due, thanks to relief measures announced by the Internal Revenue Service.Victims of California wildfires…
Read more about IRS Offers Disaster Relief to California and Iowa Taxpayers
IRA owners, beneficiaries and workplace retirement plan participants who got a Required Minimum Distribution (RMD) this year have until Aug. 31 to rollover or repay the distribution in order to avoid being taxed on the payments.…
Read more about Aug. 31 is the Deadline to Return Distributions to Retirement Accounts
The Internal Revenue Service and its partners on the Security Summit are reminding the nation’s tax professionals that having a written information security plan is more than just a good idea—it’s the law.…
Read more about Make a Plan to Protect Your Data and Report Theft
Tax professionals face many important decisions every year, and choosing a tax preparation software for the upcoming filing season sits near the top of that list.…
Read more about What are the NATP 2020 Software Survey Results?
Receiving a tax refund might be the only thing people like about filing their return, and it looks like some taxpayers are about to get just a little more money from the Department of Treasury.…
Read more about IRS Announces Interest Payments to 13.9 Million Refund Recipients
The Internal Revenue Service today recommended that taxpayers with an expiring Individual Taxpayer Identification Number renew it early to make sure their tax year 2020 refund isn’t delayed.…
The Internal Revenue Service is reminding owners of most heavy highway vehicles to timely file their Form 2290, Heavy Highway Vehicle Use Tax Return.…
Read more about Truckers Reminded to e-File Highway Use Tax Return by August Deadline
