Drake Software blog for tax pros, covering tax, IRS news, and more
Judging from the likes of food, gasoline and other staples, it should come as no surprise that the Internal Revenue Service is revising its interest rates, starting in the second quarter of this year.…
A lot has been said and written recently about the various credits put forth to counter the economic effects of the pandemic and how they affect parents’ tax liabilities.…
Read more about IRS Offers Guidance for Parents Who Share Custody
The Internal Revenue Service doesn’t want the March 1 tax deadline for farmers and fishermen to be “the one that got away.”…
Phishing emails are a common threat found in your inbox. While these scams range from too-good-to-be-true business opportunities to aggressive threats from “government agencies,” one specific…
Read more about IRS Warns Tax Pros About Spear-Phishing Scams
The Internal Revenue Service wants college students to be a little smarter when it comes to their scholarships and any emergency grants they may have gotten due to the pandemic.…
Read more about IRS Higher Education Emergency Grants FAQs Updated
The Internal Revenue Service has upped its game in the virtual currency world with a revision of an important reporting form.…
The Internal Revenue Service has come to the conclusion that the agency has more on its to-do list than it can get done at one time. Something, they found, had to be “put on the back burner.”…
Workers have returned to the service industry lately—in droves. With the threat of coronavirus subsiding in many locations, restaurants and other establishments have sprung back to life.…
Read more about IRS Reminds Taxpayers that Tips are Taxable Income
It’s a new year and a new filing season. That means the Internal Revenue Service is hard at work fighting some long-running scams aimed at tricking taxpayers out of their hard-earned money.…
The Internal Revenue Service wants to see a 2021 income tax return from all Americans—including those who haven’t filed in years. The reason is recent legislation—including the American Rescue Plan and other new laws—has put some significant tax benefits in play for those who qualify.…
Read more about IRS Encourages Non-Filers to File for ARP Benefits
