Drake Software blog for tax pros, covering tax, IRS news, and more
Social Security Administration (SSA) and Railroad Retirement Board (RRB) beneficiaries with dependents need to report that information to the IRS before April 22 at noon to receive $500 for each qualifying child at the same time as their $1,200 EIP.…
Read more about EIP Alert: April 22 Deadline for SSA and RRB Beneficiaries with Dependents
The Economic Impact Payment (EIP) program designed to ease the shock of halted employment during the coronavirus-related isolation period could experience some unexpected loopholes.…
Read more about Six States Could Tax Economic Impact Payments
We were impressed by how straightforward the entire process is.…
Scammers are posing as government officials and contacting targets to request information they say is required to process coronavirus stimulus payments. Unfortunately, they are now using every tactic possible, from email and phone scams to text messages, social media, and fake websites.…
Scammers are trying to capitalize on millions of taxpayers anticipating stimulus money by deploying phone- and email-based phishing scams.…
Read more about Tax Industry Warns of Stimulus Payment Scams
Treasury Secretary Steven Mnuchin announced on Twitter that taxpayers now have an additional 90 days to file their tax returns.…
Read more about Treasury Secretary Mnuchin Announces New Filing Deadline
The Internal Revenue Service recently announced that tax relief has once again been expanded for earthquake victims in Puerto Rico.…
Read more about More Qualify for Earthquake-Related Tax Relief in Puerto Rico
The Internal Revenue Service wants more taxpayers to know about the Earned Income Tax Credit, which is why the agency has coordinated the annual EITC Awareness Day event for more than a decade.…
Read more about IRS Celebrates 14th Annual EITC Awareness Day
The Internal Revenue Service says a little pre-planning can help gig economy workers be ready when it’s time to file their taxes.…
Read more about Gig Economy Income Can Affect a Taxpayer’s Bottom Line
