Drake Software blog for tax pros, covering tax, IRS news, and more
This week the Senate passed legislation that eliminates the IRS’ tax penalty on employers who reimburse workers for the cost of health insurance premiums. A similar measure was passed in the House last week.…
Read more about Senate Action Draws Praise from Business Group
Apparently the Internal Revenue Service and tax professionals aren’t the only ones getting ready for income tax season. Scammers and identity thieves are getting busy as well, hitting taxpayers – and…
Tax professionals across the country are gearing up for tax season, which the Internal Revenue Service today announced will officially begin on January 23, 2017. The press release included yet another reminder about PATH Act-delayed refunds: taxpayers claiming the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) will not have their refund issued until February 15, 2017.…
Read more about IRS Announces the First Day of Tax Season, Issues Refund Delay Reminder
It always seems to happen when you’ve just settled down for dinner. You get a phone call out of the blue and the man on the other end of the line says he’s Agent Such-and-Such from the Internal Revenue Service, Badge number something-or-Other.…
Every day, taxpayers fall victim to scams through emails, websites, texts or phone calls and turn over data thinking they’re dealing with an official agency or business. But that email, web page, text, or call is a “spoof,” a fake that only appears to be the real thing.…
Drake has joined with the Internal Revenue Service, state tax agencies and income tax industry partners to highlight National Tax Security Awareness Week this week. And we start just where you should start – by looking at your passwords and how to make them stronger.…
Read more about Stopping the Barbarians at the Gates: Password Tips
The new feature is part of a planned suite of new capabilities the IRS plans to add to their platform as they come online. Taxpayers can already use the site for online payment of their tax due, using their choice of direct pay, pay-by-card, or Online Payment Agreement.…
Read more about Taxpayers Get New Online Tool to Access Tax Info
The Internal Revenue Service issued a press release Tuesday to remind taxpayers that 2015’s PATH Act will delay 2017 refunds. The delay comes from an anti-fraud, anti-theft provision in the act that slows down the refund process to better review returns claiming the Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC), which will not be issued until at least February 15, 2017.…
Read more about IRS Pre-Holiday Reminder: 2017 Refunds Will be Delayed
Our friends over at the Latino Tax Professionals Association (LTPA) recently published a reminder about how Section 203 of the PATH Act impacts ITIN renewal.…
The Internal Revenue Service last week announced that leave-based donation programs could be used to send aid to victims of Hurricane Matthew. Sometimes referred to as a “leave sharing program,” leave donation lets employees donate their vacation or sick leave to a company pool that can be used by coworkers who have medical emergencies or are affected by natural disasters.…
Read more about IRS Announces Another Way to Help Victims of Hurricane Matthew
