Drake Software blog for tax pros, covering tax, IRS news, and more

IRS Touts Progress Against Identity Theft

IRS Touts Progress Against Identity Theft

With just days left in the TY 2018 filing season, the IRS and its Security Summit partners have announced major progress has been made in the fight against tax-related identity theft. What’s more, they say, their combined efforts have added protection for thousands of taxpayers and billions of dollars in refunds.…

Read more

New Bill Promises IRS Reform

New Bill Promises IRS Reform

The House Ways and Means Committee this month announced that they passed “historic legislation to redesign the IRS:” The Taxpayer First Act of 2019. According to the press release, this type of bipartisan agency overhaul has not been attempted in more than two decades, and it focuses on taxpayer customer service, data security, and updating internal IRS rules and technology.…

Read more

GM Electric Vehicle Credit to Phase Out

GM Electric Vehicle Credit to Phase Out

Taxpayers interested in getting a Chevy Volt don’t have much longer to take advantage of the Qualified Plug-In Electric Drive Motor Vehicle Credit. According to the Internal Revenue Service, General Motors officially hit the 200,000-vehicle threshold that triggers the phase out of the credit.…

Read more