Drake Software blog for tax pros, covering tax, IRS news, and more
Millions of Americans are preparing to get their income tax returns in order for the 2021 tax year. While many are mostly concerned about getting their returns in on time, they should also be thinking about filing a correct return.…
The Internal Revenue Service wants employers to know the clock is ticking, and to get their Forms W-2 and other wage statements to the government very soon. The deadline is January 31.…
Read more about IRS Reminds Employers About Wage Statement Deadline
With tax time’s arrival, those Americans who don’t normally have to file an income tax return usually think their circumstances mean they have no benefit to filing a return.…
Read more about Reasons Some Non-Filers Should File This Year
The Internal Revenue Service says it has updated the online frequently asked questions (FAQs) for the 2021 Child Tax Credit and the Advance Child Tax Credit.…
“The most challenging year taxpayers and tax professionals have ever experienced." With that short sentence, National Taxpayer Advocate Erin Collins sums up her assessment of the calendar year 2021 and its effect on the Internal Revenue Service.…
Read more about Taxpayer Advocate Highlights 2021 Delays for Processing and Refunds
The Internal Revenue Service is updating its Frequently Asked Questions to reflect changes on two fronts important to a lot of taxpayers.…
Read more about FAQs Updated on Unemployment Compensation, Recovery Rebate Credit
It’s official: The Internal Revenue Service says it will start accepting tax year 2021 returns on January 24, kicking off tax season.…
A reminder from the Internal Revenue Service might be called a taxpayer’s best last chance. Those taxpayers who found they may have failed to hold out enough from their income to cover their federal income taxes still have one more shot at avoiding a big surprise tax bill and escaping a possible penalty.…
Read more about IRS Issues Reminder for Estimated Tax Payment Deadline
No doubt about it: The future for the IRS is electronic. The agency is putting more and more formerly paper-only functions on its electronic platform, speeding up transmission and improving service as a result.…
Victims of the New Year wildfires in Colorado now have one less thing to worry about. The Internal Revenue Service has given individual and business taxpayers affected by the disaster until May 16 to…
Read more about Tax Relief Coming to Colorado Wildfire Victims
