Drake Software blog for tax pros, covering tax, IRS news, and more
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.…
Read more about Final Regulations Issued for Revamped Foreign Tax Credit
Main Street businesses might consider themselves too small to be the target of a business identity theft scam, but the Security Summit says that identity thieves are more than happy to steal their business information.…
Read more about National Tax Security Awareness Week: Spotting Business Identity Theft
Passwords are a ubiquitous part of life in the Digital Age, but many of us aren’t particularly good at making them. That’s why the Security Summit is highlighting tips for creating strong passwords on the third day of National Tax Security Awareness Week.…
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The second day of National Tax Security Awareness Week saw the Internal Revenue Service spotlight common signs of tax-related identity theft phishing scams.…
Read more about National Tax Security Awareness Week: Spotting Phishing Scams
It’s the first day of National Tax Security Awareness Week, and the Security Summit is kicking off the festivities by focusing on the dangers of online shopping.…
Read more about National Tax Security Awareness Week: Online Shopping and PII
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 reports that criminals perpetrating tax-related identity theft scams are taking a new approach with one of their greatest hits: the Social Security Number scam.…
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.…
Read more about IRS Has Financial Record Recovery Tips for Disaster Victims
