Drake Software blog for tax pros, covering tax, IRS news, and more
The IRS says it will be issuing regulations in the near future aimed at clarifying just how state and local tax payments can be deducted for federal income tax purposes.The issue goes back to late…
Read more about IRS to Issue Guidance on State, Local Tax Deductions
Severe Storm Victims to Receive Tax ReliefSome North Carolina taxpayers will receive tax relief now that the president and FEMA have declared tornado-and-severe-storm-stricken counties federal…
Read more about Parts of North Carolina Declared Disaster Areas
Scam artists have dusted off an old scheme and added a new kink in an effort to swindle taxpayers out of money. This new effort uses a faked version of the IRS Form W-8BEN to get detailed personal…
Cybercriminals Targeting Employer Identification NumbersAs part of the Small Business Week program, the IRS last week addressed ways businesses could protect against a recurring identity-theft scheme:…
Read more about Identity Thieves Using Stolen EINs to File Returns
How Did the TY2017 Tax Season Turn Out?We’re a few weeks removed from tax season, so we wanted to hear what tax professionals thought about the latest iteration of the January-to-April annual…
Read more about Jim Lowe & Jerry Gaddis Recap Tax Season – EP10
We’ve barely left the filing season for TY2017 behind and scammers are already showing they don’t have any deadlines. A new wave of phone scams, more devious than past attempts, has been…
It will come as no surprise to tax professionals that there were problems submitting returns to the IRS on Tax Day.Early yesterday morning, IRS systems experienced an issue that prevented the agency…
With the TY2017 tax season coming down to the final hours, the acting IRS commissioner feels pretty good about his agency’s performance thus far. But the big crunch, he says, comes after tax deadline…
Read more about For IRS, the Real Work Starts After Tax Season
The April 17 deadline for filing will bring this tax season to a close before we know it. So it makes sense that the bad guys are planning to make hay while the sun shines. Identity thieves and…
The Internal Revenue Service is reminding taxpayers that time is short to file their 2014 income tax return for a refund. Some $1 billion in refunds is yet unclaimed from TY2014. In order to claim a…
Read more about Time Running Short to File 2014 Returns for Refund
