Drake Software blog for tax pros, covering tax, IRS news, and more
The Internal Revenue Service released a notice and final regulations clarifying a number of issues, including whether rental property would be considered eligible for QBI.…
Read more about IRS Clarifies Whether Rental Real Estate Qualifies for QBI
The partial federal government shutdown is in its nineteenth day, and it seems some federal services will be unavailable for the foreseeable future.…
Read more about Government Shutdown Causes Cancellation of IRS Public Hearing
If an identity thief manages to steal a tax preparer’s client data, where does it go? An IRS investigator gives us a chilling roadmap for stolen data’s journey—from closely guarded identification to illegal commodity.…
The tax reform package that went into effect at the end of 2017 effectively doubled the standard deduction for individuals.…
Read more about Tax Reform Likely to Result in Fewer Taxpayers Who Itemize
https://www.irs.gov/newsroom/tax-relief-for-victims-of-november-8-wildfires-in-california…
Read more about California Declared Federal Disaster, Receiving Tax Relief
The Internal Revenue Service is reminding taxpayers and tax professionals that more families should be able to get more money this next tax season under the revised Child Tax Credit.…
Read more about Reminder: New Tax Law Revised Family Tax Credits
The Internal Revenue Service’s Criminal Investigations division (CI) has issued a glowing report of its activities for the past year.…
Read more about IRS Criminal Investigations Report Touts Year’s Successes
The Government Accountability Office recently audited the Internal Revenue Service’s financial statements for the 2017 and 2018 fiscal years.…
Guidance issued by the Internal Revenue Service shows tax reform legislation that took effect in 2018 pushes the caps on contributions to higher levels in 2019.…
Read more about Tax Reform Expands Retirement Contribution Limits
A study by the Government Accountability Office shows that whistleblowers may not be getting the reward money they’re entitled to after alerting the IRS to illegal foreign bank accounts.…
Read more about GAO Finds IRS May be Shortchanging Whistleblowers
