Drake Software blog for tax pros, covering tax, IRS news, and more
It was a wise man indeed who first warned us to “hope for the best, but prepare for the worst.”…
Read more about IRS Reminds Taxpayers to Prepare for Natural Disasters
This tax season, like so many before, a lot of filers could use a little extra time to get the job done.…
Read more about These Taxpayers Don't Have to Do Anything to Get an Extension
The Internal Revenue Service has kept taxpayers’ mailboxes busy for months now, sending out notices to taxpayers about the various Economic Impact Payments that have been issued.…
Read more about Navigating Notices About Economic Impact Payments
The Internal Revenue Service has issued guidance aimed at employers who claim the employee retention credit (ERC).…
The Internal Revenue Service continues to send out Economic Impact Payments (EIPs), aimed at helping Americans though these tough economic times.…
Read more about IRS Wants Help Raising Awareness of EIP Eligibility for Homeless Americans
The IRS has unveiled guidance that temporarily throws open the gates to recouping 100 percent of the expense for certain food and beverage purchases. The new rules for this business deduction went into effect on Jan.1 of this year.…
Read more about Guidance Explains Temporary Increase in Food and Beverage Deduction
Employees of three federal agencies are keeping very busy these days, sending out the millions of Economic Impact Payments (EIPs) to Americans in need.…
Read more about More Than 130 Million EIPs Have Been Sent Out with More to Come
Taxpayers are getting more time to meet some tax deadlines that would normally fall on April 15, such as making IRA contributions and filling certain claims for a refund.…
Taxpayers, no matter their age, may be able to claim a deduction on their 2020 tax returns for contributions to their Individual Retirement Arrangement (IRA) if they make them by April 15.…
Read more about Taxpayers Can Still Get Credit for IRA Contributions on 2020 Returns
It won’t be long before Americans start seeing the third round of Economic Impact Payments—also known as EIP3—showing up in their bank accounts and mailboxes.…
Read more about IRS Now Sending Out Third Round of Economic Impact Payments
