Drake Software blog for tax pros, covering tax, IRS news, and more

IRS Now Accepting ITIN Renewals

IRS Now Accepting ITIN Renewals

ITINs that haven’t been used at least once in three consecutive years or contain middle digits 73, 74, 75, 76, 77, 81, or 82 will expire on December 31, 2018—unless, of course, affected ITIN holders renew before the end of the year.…

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A Friendly Tax Season 2018 Reminder

A Friendly Tax Season 2018 Reminder

While most of the big tax-code changes we’ve heard about in the tax legislation passed in December don’t take effect until TY 2018, there are still a few things preparers need to keep in mind this season.…

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IRS Issues Refund Reminder

IRS Issues Refund Reminder

As part of the Avoid the Rush tax tip series, the IRS yesterday reminded taxpayers about Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) refund delays. In addition to how weekends and Presidents Day fall on the calendar this year, one reason refund checks for returns claiming these credits will be delayed is the Protecting Americans from Tax Hikes (PATH) Act.…

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After That Return is e-Filed

After That Return is e-Filed

Being professionals, we all know how to give our clients the most accurate, best-case-scenario income tax return. But what happens after we send that return? Do you find yourself fielding call after…

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IRS Announces the First Day of Tax Season, Issues Refund Delay Reminder

IRS Announces the First Day of Tax Season, Issues Refund Delay Reminder

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.…

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IRS Pre-Holiday Reminder: 2017 Refunds Will be Delayed

IRS Pre-Holiday Reminder: 2017 Refunds Will be Delayed

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.…

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