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Drake Software blog for tax pros, covering tax, IRS news, and more

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PPP Loan Forgiveness, Coronavirus Scams, EIP Cards, and More - E45

Ryan Norton - May 26, 2020
PPP Loan Forgiveness, Coronavirus Scams, EIP Cards, and More - E45

This episode of the Taxing Subjects Podcast covers recent announcements about Economic Impact Payments, the Paycheck Protection Program, coronavirus scams, and more.…

Read more about PPP Loan Forgiveness, Coronavirus Scams, EIP Cards, and More - E45

IRS Updates Economic Impact Payment Statistics

Ryan Norton - May 22, 2020
IRS Updates Economic Impact Payment Statistics

The Treasury Department has issued an additional $41 billion in Economic Impact Payments since May 8, 2020.…

Read more about IRS Updates Economic Impact Payment Statistics

Five Indicted in Nationwide Fraud Scheme

Bob Williams - May 21, 2020
Five Indicted in Nationwide Fraud Scheme

Five Connecticut men have been indicted in a series of fraud schemes that targeted the elderly, bilking them out of more than $4 million.…

Read more about Five Indicted in Nationwide Fraud Scheme

Treasury Sending Prepaid Debit Cards to Some EIP Recipients

Ryan Norton - May 20, 2020
Treasury Sending Prepaid Debit Cards to Some EIP Recipients

The Treasury Department announced that “EIP Cards” will be issued to some Economic Impact Payment recipients.…

Read more about Treasury Sending Prepaid Debit Cards to Some EIP Recipients

IRS Undercover Travel Expenses Audited

Bob Williams - May 20, 2020
IRS Undercover Travel Expenses Audited

The Inspector General’s auditors looked at 49 vouchers from the 2018 fiscal year that included expenses from undercover travel.…

Read more about IRS Undercover Travel Expenses Audited

IRS Adding More Operators for EIP Calls

Bob Williams - May 19, 2020
IRS Adding More Operators for EIP Calls

The Internal Revenue Service says it is in the process of hiring 3,500 additional telephone representatives so that taxpayers can get answers to their questions about Economic Impact Payments.…

Read more about IRS Adding More Operators for EIP Calls

Now Available: Paycheck Protection Program Loan-Forgiveness Application

Ryan Norton - May 18, 2020
Now Available: Paycheck Protection Program Loan-Forgiveness Application

The Small Business Administration says the PPP loan-forgiveness application is now available on SBA.gov.…

Read more about Now Available: Paycheck Protection Program Loan-Forgiveness Application

IRS Sends EIP Information Packets to Partner Organizations

Ryan Norton - May 18, 2020
IRS Sends EIP Information Packets to Partner Organizations

The IRS wants help spreading the word about Economic Impact Payments.…

Read more about IRS Sends EIP Information Packets to Partner Organizations

Economic Impact Payments, Virtual Settlement Days, Delayed EA Exams, and More – E44

Ryan Norton - May 14, 2020
Economic Impact Payments, Virtual Settlement Days, Delayed EA Exams, and More – E44

Learn about recent IRS announcements concerning Economic Impact Payments, Virtual Settlement Days, the Special Enrollment Exams, and more in the latest news-roundup episode of the Taxing Subjects Podcast.…

Read more about Economic Impact Payments, Virtual Settlement Days, Delayed EA Exams, and More – E44

IRS Breaks Down Economic Impact Payments by State

Ryan Norton - May 13, 2020
IRS Breaks Down Economic Impact Payments by State

The IRS announced that close to 130 million taxpayers have now received an Economic Impact Payment—up from the 88 million toward the end of April—bringing the total amount of money issued to more than $200 billion.…

Read more about IRS Breaks Down Economic Impact Payments by State

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