Drake Software blog for tax pros, covering tax, IRS news, and more
The IRS is in the middle of its EITC Awareness Day outreach campaign, partnering with members of the tax industry to spread the word about the Earned Income Tax Credit, which IRS Commissioner Chuck Rettig says can be extremely helpful for qualifying taxpayers.…
The Internal Revenue Service released a notice and final regulations clarifying a number of issues, including whether rental property would be considered eligible for QBI.…
Read more about IRS Clarifies Whether Rental Real Estate Qualifies for QBI
The IRS announced it would waive the penalty for insufficient estimated tax payments and withholding.…
Read more about IRS Has Good News for Taxpayers Who Under-Withheld
The Internal Revenue Service on Tuesday released its Fiscal Year 2019 Lapsed Appropriations Contingency Plan, a document that has been eagerly awaited ever since it started looking like the partial federal government shutdown would extend into tax season.…
Read more about IRS Publishes FY2019 Lapsed Appropriations Contingency Plan
Late yesterday afternoon, the Internal Revenue Service issued a press release revealing that January 28 will officially kick off the 2019 filing season.…
February 4, 2019 will mark the end of the Internal Revenue Service faxing tax transcripts to individuals and tax professionals. According to the IRS Newswire, tax industry feedback helped contribute to the decision to stop the practice.…
Read more about IRS Will Not Fax Tax Transcripts after February
According to the Internal Revenue Service, there are two new “business email compromise/business email spoofing (BEC/BES)” spear-phishing scams targeting tax professionals: the direct-deposit scam and the wire-transfer scam.…
On Day 4 of the Security Summit-sponsored National Tax Security Awareness Week, the Internal Revenue Service is focusing on business identity theft scams.…
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Today, the IRS is spotlighting an area of data security that is often overlooked: password hygiene.…
Read more about National Tax Security Awareness Week: Password Hygiene
The second day of National Tax Security Awareness week focused on the danger posed by phishing scams.…
Read more about National Tax Security Awareness Week: Phishing Scams
