Drake Software blog for tax pros, covering tax, IRS news, and more
The Earned Income Tax Credit is fairly well-known to be aimed at workers who don’t earn a lot of money in their jobs and who may be supporting a family. This year the EITC salary ceiling is $53,505,…
Read more about Special EITC Rules May Help Taxpayers with Disabilities
An email scam is making the rounds for a second time, attempting to trick company payroll or human resource departments into sending employee information that can be used to file bogus tax returns.The…
Read more about Crooks Unleash Spoofing Campaign for Second Time
The Internal Revenue Service is sending a reminder to some tax preparers, reminding them that the Earned Income Tax Credit claimed in one of their returns was missing needed due diligence.…
As you know, tax preparation these days is all about the data. There’s your data – e-Services logins, tax software and business data; and there’s client data – the bits and pieces we put together to make a successful income tax return.…
Taxpayers who have a state income tax refund coming will have to be more patient than in previous years. A number of states have put delays into their refund processes to give them more time to validate return information.…
Every year, the National Taxpayer Advocate, Nina Olson, submits a report to Congress on how she rates the performance of the Internal Revenue Service from a taxpayer’s perspective. Federal law…
Read more about National Taxpayer Advocate Report Good News, Bad News for IRS
National Taxpayer Advocate Nina Olson says it’s time to make the American income tax code a simpler kind of beast. Olson, in her 2016 annual report to Congress, outlined a number of recommendations aimed at the income tax system in general and the IRS specifically.…
Read more about Taxpayer Advocate Calls for Simpler Tax Code
Nina E. Olson, the National Taxpayer Advocate, released her 2016 annual report to Congress this week. In it, Olson urges lawmakers to simplify the tax code and callas on IRS to adopt a “taxpayer-centric focus” in its “Future State” plan.…
Being professionals, we all know how to give our clients the most accurate, best-case-scenario income tax return. But what happens after we send that return? Do you find yourself fielding call after…
With Christmas is in the rear view mirror, the bowl games all played out and December bank statements arriving in the mail, tax season 2017 has officially arrived. Here are 10 things to know before filing that first return.…
