Drake Software blog for tax pros, covering tax, IRS news, and more
The House Ways and Means Committee on Monday issued a press release announcing a discussion draft for the Taxpayer First Act, a bipartisan effort aiming to “redesign the Internal Revenue Service (IRS)…
Read more about House Ways and Means Oversight Subcommittee Proposes IRS Reform
Baffled by Bitcoin? In the dark over Litecoin but find Ethereum engaging?No matter what your attitude toward the use of virtual currency, the Internal Revenue Service wants you to know that there’s…
In our last post, we laid out this year’s “Dirty Dozen” tax scams as ranked by the Internal Revenue Service. The annual list looks at the worst scams likely to beset taxpayers and tax pros during the…
Every tax season, the Internal Revenue Service releases what it terms the “Dirty Dozen” list of top tax scams. While some of the scams listed may not change from year to year—if the bad guys find a…
When the Bipartisan Budget Act was passed in February, some early filers needed to submit amended returns to take advantage of the retroactive tax extenders that were included in the legislation.The…
Read more about Drake Tax Ready to Process All Bipartisan Budget Act Extenders
Passwords tend to be something people dread. What’s the correct length? How many characters? Are Shakespeare quotes a good idea? Luckily, our latest podcast guest was able to provide some…
Somewhere between the time we start our work careers and the time we finally retire, life happens. During that time span, many taxpayers feel the need to dip into their Individual Retirement Account…
Read more about Things to Remember About Early Withdrawals from Retirement Plans
It’s been a rough winter for residents of the Northeast: three severe winter storms in just two months. Fortunately, the IRS is helping to take a little of the bite out of the winter wind for those most affected.…
Read more about Winter Storms Prompt IRS to Grant Relief to Businesses
About a million taxpayers could have some cash waiting for them, provided they file their 2014 income tax returns.…
Read more about $1 Billion in Refunds Still Unclaimed from 2014 Returns
A recent court case highlights reasons behind a change in IRS procedure in how the Office of Professional Responsibility (OPR) deals with complaints.…
