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

Form 8863 Delayed

Form 8863 Delayed

Taxpayers using Form 8863, Education Credits, can begin filing their tax returns after the IRS updates its processing systems. Form 8863 is used to claim two higher education credits -- the American Opportunity Tax Credit and the Lifetime Learning Credit.…

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IRS to Develop Tax Preparer Database

IRS to Develop Tax Preparer Database

This database will include the names, addresses, and professional qualifications of tax preparers, as well as any publicly disclosed professional disciplinary actions. Essentially, it will allow taxpayers to shop around for a preparer who is qualified...…

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Higher Standards for Tax Preparers

Higher Standards for Tax Preparers

Last November, the IRS began efforts to increase the quality of the tax preparation industry and improve service to taxpayers by requiring certain tax preparers to complete a Registered Tax Return Preparer (RTRP) competency test. In the last few months, some 3,000 tax preparers have passed...…

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