Drake Software blog for tax pros, covering tax, IRS news, and more
The Internal Revenue Service recently unveiled the Gig Economy Tax Center, a new online resource for freelancers.…
Read more about IRS Unveils New Online Resource for Freelancers
The Internal Revenue Service has confirmed that it will begin accepting and processing 2019 returns on January 27, opening the gates for millions of individual tax return filers.…
Read more about 2019 Filing Season to Start January 27, IRS Says
The Internal Revenue Service has set the optional standard mileage rates for 2020. These rates are used to figure the deductible costs of operating a vehicle for business, charitable, medical or moving purposes.…
The Internal Revenue Service has announced that the final regulations have been issued on the revamped Foreign Tax Credit, which was modified as a result of tax reform in 2017.…
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The Internal Revenue Service has released cost-of-living adjustments for tax year 2020 covering dollar limitations for pension plans and other retirement-related items.…
A recent Internal Revenue Service press release revealed the tax year 2020 annual inflation adjustments, which affect a number of tax items, including marginal tax rates, the Alternative Minimum Tax, the Earned Income Credit, and more.…
Read more about Tax Year 2020 Annual Inflation Adjustments Revealed by IRS
In a matter of weeks the 2020 filing season will be underway. To help ensure that taxpayers don’t get caught unprepared, the IRS is recommending everyone to act now to avoid any tax-time surprises and ensure smooth processing of 2019 tax returns.…
The IRS this week released another disaster victim-focused tax tip, reminding taxpayers what they can do to rebuild financial records lost to a storm, flood, or some other catastrophic event.…
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Taxpayers whose outstanding tax bill has been referred to a private debt collector have a new way to pay, according to a recent IRS press release.…
Read more about IRS Announces New Way to Pay Tax Bills That Have Gone to Private Collections
October is National Work and Family Month, and to celebrate, the IRS is issuing informative tips on the work-life balance. Topics include family businesses, family tax credits, military tax benefits, scams and security issues.…
