Drake Software blog for tax pros, covering tax, IRS news, and more
“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
![2021 Tax Filing Statistics [Infographic]](/media/2956/2021-tax-filing-statistics-infographic.jpg?anchor=center&mode=crop&width=1024&height=576&rnd=132865528660000000)
Every year, Drake Software uses Internal Revenue Service statistics to create an infographic highlighting important tax-filing information gathered throughout the year. For example, last year saw taxpayers increasingly turn to do-it-yourself platforms when it was time to file their federal tax return.…
If taxpayers get a letter from the Internal Revenue Service relating to either the Advance Child Tax Credit or Economic Impact Payments, they need to file the letters for safekeeping.…
Read more about IRS Wants Taxpayers to Save ACTC and EIP Letters
In November 2021, Drake Software and Rightworks collaborated on a three-part series highlighting different software solutions available to tax professionals.…
As recovery efforts spread across parts of the south in the wake of the December 10 tornadoes, the Internal Revenue Service is expanding its effort to give affected taxpayers in the region a helping hand.…
Read more about IRS Relief Now Covers Kentucky, Parts of Illinois and Tennessee
