Drake Software blog for tax pros, covering tax, IRS news, and more
The Internal Revenue Service this week announced that Congress has received the National Taxpayer Advocate’s 2019 Annual Report to Congress.…
Read more about What’s in the Taxpayer Advocate’s 2019 Annual Report to Congress?
The Internal Revenue Service has confirmed that it will begin accepting and processing 2019 returns on January 27, opening the gates for millions of individual tax return filers.…
Read more about 2019 Filing Season to Start January 27, IRS Says
The Internal Revenue Service has set the optional standard mileage rates for 2020. These rates are used to figure the deductible costs of operating a vehicle for business, charitable, medical or moving purposes.…
The Internal Revenue Service has come up with a new online tool that’s designed to help employers—especially those in small business—easily determine the correct amount of income tax to withhold from workers’ pay.…
Read more about New Downloadable Tool Helps Small Business with Employee Withholding
Jim Lowe, EA, joined us on the Taxing Subjects Podcast to discuss the “How Do Your Tax Prep Fees Stack Up?” infographic.…
The Internal Revenue Service is reminding tax-exempt organizations that recent changes in the law now require them to file information returns and other forms electronically.…
Read more about Tax Exempt Organizations Now Required to File Electronically
Whistleblowers who provided information to the Internal Revenue Service may soon have an easier time collecting their reward.…
Read more about IRS and TTB Improving Whistleblower Claims Process
An annual report from the Internal Revenue Service credits cutting-edge data analytics and “good, old-fashioned police work” for achieving a 91% conviction rate on cases probed by the IRS Criminal Investigations division.…
Read more about IRS Says 91% of Criminal Investigation Cases Get a Conviction
The Internal Revenue Service has announced that the final regulations have been issued on the revamped Foreign Tax Credit, which was modified as a result of tax reform in 2017.…
Read more about Final Regulations Issued for Revamped Foreign Tax Credit
As we move into the holiday season, scammers are finalizing their plans to swindle taxpayers out of their money.…
