Drake Software blog for tax pros, covering tax, IRS news, and more

Ransomware Scam Poses as FBI

Ransomware Scam Poses as FBI

A new phishing scheme has been unleashed on taxpayers, this time impersonating as the FBI and the IRS.In reality, the scammers are sending emails that install ransomware on computers in order to hold…

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Meta Financial Group Acquires EPS Financial

Meta Financial Group Acquires EPS Financial

Last week, Meta Financial Group, Inc. and its subsidiary, MetaBank, announced the acquisition of EPS Financial LLC, a wholly-owned subsidiary of Drake Enterprises, Ltd. The Meta Financial Group press release noted that the purchase of EPS Financial from Drake Enterprises was for roughly $42.5 million – half in Meta Financial stock and half in cash – and would close in the fourth quarter of 2016.…

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IRS Extends Time to Replace Drought-Sale Livestock

IRS Extends Time to Replace Drought-Sale Livestock

The Internal Revenue Service announced last Friday that they would be extending the amount of time that ranchers and farmers have to replace livestock that they had to sell as a result of drought by one year. It’s worth noting that the extended replacement period only applies to draft, dairy, and breeding livestock.…

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IRS to Extension Filers: You May Need 2014 AGI to E-file

IRS to Extension Filers: You May Need 2014 AGI to E-file

The Internal Revenue Service is reminding all taxpayers they should keep tax records – including returns and supporting documents – for a minimum of three years. And keeping those records handy will be more important in the very near future for those taxpayers who prepare their own returns.…

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