Drake Software blog for tax pros, covering tax, IRS news, and more
With tax time’s arrival, those Americans who don’t normally have to file an income tax return usually think their circumstances mean they have no benefit to filing a return.…
Read more about Reasons Some Non-Filers Should File This Year
The Internal Revenue Service says it has updated the online frequently asked questions (FAQs) for the 2021 Child Tax Credit and the Advance Child Tax Credit.…
“The most challenging year taxpayers and tax professionals have ever experienced." With that short sentence, National Taxpayer Advocate Erin Collins sums up her assessment of the calendar year 2021 and its effect on the Internal Revenue Service.…
Read more about Taxpayer Advocate Highlights 2021 Delays for Processing and Refunds
It’s official: The Internal Revenue Service says it will start accepting tax year 2021 returns on January 24, kicking off tax season.…
A reminder from the Internal Revenue Service might be called a taxpayer’s best last chance. Those taxpayers who found they may have failed to hold out enough from their income to cover their federal income taxes still have one more shot at avoiding a big surprise tax bill and escaping a possible penalty.…
Read more about IRS Issues Reminder for Estimated Tax Payment Deadline
Taxpayers who took advantage of some tax-relief measures during the dark days of the COVID-19 pandemic are being reminded that’s it’s now time to pay up.…
Read more about Deferred Social Security Payments Due in 2022
As recovery efforts spread across parts of the south in the wake of the December 10 tornadoes, the Internal Revenue Service is expanding its effort to give affected taxpayers in the region a helping hand.…
Read more about IRS Relief Now Covers Kentucky, Parts of Illinois and Tennessee
The Internal Revenue Service has put a little more cushion into its standard mileage rates, so taxpayers won’t have such a big bite taken out of their pockets by fuel prices.…
As the phrase goes, all good things come to an end, and the Internal Revenue Service is saying just that about the advance payments of the Child Tax Credit, or CTC.…
The CPA Journal this week announced the results of its twentieth annual survey of members of the New York State Society of CPAs, titled “Tax Software in the Ongoing Pandemic Environment.” Respondents were asked about a range of issues, from problems faced throughout filing season to how their tax software performed.…
Read more about Drake Takes 5 Categories in Survey of NYSSCPAs
