Drake Software blog for tax pros, covering tax, IRS news, and more
The dates for the 2021 Nationwide Tax Forum have been set. But before you start calling for airline tickets, the announcement from IRS Commissioner Chuck Rettig has some helpful advice about travel plans:…
The Internal Revenue Service this week issued a tax tip to help taxpayers with missing or incorrect tax documents.…
Read more about The IRS Has Tips for Getting and Correcting Tax Documents
The Internal Revenue Service says its interest rates will hold at previous levels for the second quarter of 2021.…
Read more about IRS Interest Rates Steady for Second Quarter
Congress bookended 2020 with two taxpayer relief packages aimed at mitigating the financial strain caused by the ongoing coronavirus pandemic.…
Read more about The Employee Retention Credit Covered in New IRS Notice
A status report from the IRS shows income tax returns are being filed at a much slower rate than last year. But unlike in 2020, an extension to the April 15 filing deadline is unclear.…
Read more about Filing Numbers Down; Chance of Extended Deadline Unclear
The Internal Revenue Service has issued an alert covering amended returns and claims for the Domestic Production Activities Deduction, also known as DPAD.…
Read more about Domestic Production Activities Deduction Fuels IRS Alert
Taxpayers with income from farming or fishing face a March 1 deadline for filing their income taxes. But the IRS reminds them they can avoid making any estimated tax payments by filing and paying their entire tax due on or before the deadline.…
Read more about Farmers and Fishers Face March 1 Tax Deadline
Unemployment claims may have fallen since the initial months of the pandemic, but millions of Americans continue to struggle with long-term joblessness and medical bills caused by the coronavirus.…
Read more about Qualifying Low-Income California Residents to Get Additional Stimulus from State
An upcoming issue of the IRS’ Internal Revenue Bulletin (IRB) gives tax professionals updated guidance on federal interest rates in a number of areas.…
Read more about Internal Revenue Bulletin Update Provides Interest Rates, Other Guidance
The Internal Revenue Service says, as required by law, it has issued all the first and second round Economic Impact Payments (EIPs) that were legally permitted. So, the IRS is now turning its full…
Read more about All First and Second Economic Impact Payments Have Been Issued
