Drake Software blog for tax pros, covering tax, IRS news, and more
The nation’s Taxpayer Advocate wants taxpayers to know there’s a downside to having too much of a good thing. In this case, it refers to making excessive or improper claims to qualify for a number of tax credits.…
Read more about TAS Warns of Ban for Improperly Claiming Some Credits
The Internal Revenue Service is once again warning taxpayers who are involved in abusive micro-captive insurance schemes that they need to get out of those arrangements—and quickly.…
Read more about IRS Issues Another Abusive Micro-Captive Arrangement Warning
The Internal Revenue Service has revealed a second settlement effort for taxpayers under audit who took part in abusive micro-captive insurance transactions.…
Read more about New Stricter Settlement Deal in Play for Micro-Captive Insurance Schemes
The Internal Revenue Service announced that Settlement Days will be hosted via teleconferencing platforms due to coronavirus stay-at-home orders.…
The president announced he would sign a stopgap spending bill reopening the government until February 15, and given the shutdown had stretched into 35 days—the longest in US history—it raised a question about Tax Court: when will it reopen?…
A recent Tax Court ruling is clear that do-it-yourself tax software is no shield against improper deductions.…
Part III: Representation- Alternatives(When Something Goes Wrong)© Ben A. Tallman EA This is the third & final segment in a three part series on Representation. If you missed the first and second…
Read more about Part III: Representation- Alternatives (When Something Goes Wrong)
