Drake Software blog for tax pros, covering tax, IRS news, and more
Richmond’s Taxpayer Protection and Preparer Fraud Prevention Act of 2013 would give the Internal Revenue Service more oversight to certify paid tax preparers and ensure they are “competent, of good character and able to render services.” The legislation also would allow the IRS to...…
This tax filing season the Internal Revenue Service may be monitoring social media for any clues of tax cheats.…
US taxpayers were slightly less likely to face an audit last year, according to an analysis issued by the Transactional Records Access Clearing House (TRAC) at Syracuse University.…
Tax professionals are no strangers to stress. Here are a few suggestions to help you deal with the stress of tax season.Don’t over-extend yourself. By now, you’ve undoubtedly noticed time doesn’t…
It’s fairly common knowledge that the main cause of illness is the dreaded germ. But avoiding germs completely is impossible...…
A new website provided by Drake Software hits the sweet spot, giving taxpayers and employers a to-the-point, layman’s overview of the Affordable Care Act’s (ACA) looming tax implications. The site, located at...…
Read more about New Website: Overview of the Affordable Care Act's Tax Implications
The IRS has seen a few problems with the way the form is completed that could delay processing. The IRS has requested tax preparation software providers modify their programs so that they require completion of the correct boxes...…
In January, a trio of independent tax preparers filed suit challenging the IRS’s authority to impose its Registered Tax Return Preparer regime – something it developed with the hopes of increasing the quality of the tax preparation industry and improving service to taxpayers. A federal judge ruled ...…
Sequestration: a series of across-the-board federal cuts scheduled to occur if Congress doesn’t take actions to cut spending. The deadline from Congress to take action is Friday, March 1. If no action is taken and sequestration goes into effect,...…
Although most everyone is aware of the dangers of identity theft, the IRS is expecting difficulties in wading through all of the tax returns that are to be filed this year. The hardest part will be…
