Drake Software blog for tax pros, covering tax, IRS news, and more
The Internal Revenue Service has set the optional standard mileage rates for 2020. These rates are used to figure the deductible costs of operating a vehicle for business, charitable, medical or moving purposes.…
IRS Commissioner Chuck Rettig promises that the Internal Revenue Service will continue to go after those involved in “aggressive syndicated easement transactions.”…
Read more about IRS Promises to Go After “Aggressive Syndicated Easement Transactions”
The Internal Revenue Service is reminding tax-exempt organizations that recent changes in the law now require them to file information returns and other forms electronically.…
Read more about Tax Exempt Organizations Now Required to File Electronically
Whistleblowers who provided information to the Internal Revenue Service may soon have an easier time collecting their reward.…
Read more about IRS and TTB Improving Whistleblower Claims Process
An annual report from the Internal Revenue Service credits cutting-edge data analytics and “good, old-fashioned police work” for achieving a 91% conviction rate on cases probed by the IRS Criminal Investigations division.…
Read more about IRS Says 91% of Criminal Investigation Cases Get a Conviction
As we move into the holiday season, scammers are finalizing their plans to swindle taxpayers out of their money.…
The Internal Revenue Service says it plans to beef up background checks on tax practitioners in the wake of an audit that found inconsistencies in how those checks were administered.…
Read more about IRS Promises Better Background Checks on Tax Pros
The Internal Revenue Service has updated its guidance that was issued for deductible business, charitable, medical, and moving expenses.…
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
