Drake Software blog for tax pros, covering tax, IRS news, and more
IRS Adjusts 2014 Tax Benefits, Rate Schedules for InflationLast week, the Social Security Administration announced the 2014 Social Security cost-of-living benefit adjustment to account for (relatively…
IRS Contractor Employees Owe Millions in Tax Debts A report from the Treasury Inspector General for Tax Administration points out that the IRS’s own employees and contract employees are required under…
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IRS Wastes Billions in Bogus Claims for Earned Income Tax Credit The Internal Revenue Service paid up to $13.6 billion in bogus claims for the Earned Income Tax Credit last year and as much as $132.6…
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IRS Releases Preliminary Report on ObamaCare Inquiries The IRS on Saturday reported handling more than 330,000 requests from ObamaCare exchanges to calculate whether Americans are eligible for federal…
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IRS Gives Drought-Stricken Farmers and Ranchers More Time to Replace Livestock The Internal Revenue Service said that farmers and ranchers who previously were forced to sell livestock due to drought…
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Protection Plus: Audit Protection For Your Tax PracticeBy James Stork VP of Education, Drake SoftwareThe IRS has increased its audits of professional tax preparation firms, attempting to stem a…
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Shutdown Gives Tax Scammers New Opportunities to StealBeing pursued by the Internal Revenue Service for outstanding tax liabilities can be stressful.Forbes reports that being pursued by the fake…
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IRS Releases Details on PTIN HoldersThe Return Preparer Office of the IRS has released details on the professional credentials of those who currently hold Preparer Tax Identification Numbers.Just over…
IRS Updates Special Per Diem Rates for 2013–2014 Travel Expenses Last week, the IRS issued its annual update of special per diem rates for use in substantiating certain business expenses taxpayers…
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IRS Rides 1884 'dead horse' Law to Defense of Tax Preparer Rules WASHINGTON (Reuters) - The Obama administration defended its effort to regulate the tax return preparation business for the first time…
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