Drake Software blog for tax pros, covering tax, IRS news, and more
A recent warning issued by the IRS alleges fraud is being perpetrated by unethical tax preparers targeting Spanish-speaking taxpayers who lack fluency in English. The IRS cites reports of tax…
The IRS released a notice for small businesses employing less than 25 people, outlining how they may be able to take advantage of the Small Business Health Care Tax Credit. The "Tax Tip" covers the…
Read more about IRS "Tax Tip" Covers Small Business Health Care Tax Credit
The IRS reported that roughly one million taxpayers did not file their 2011 federal income tax returns, resulting in $1 billion in unclaimed refunds. IRS Commissioner John Koskinen stated that student…
Today, the IRS released another "Tax Time Guide" aiming to streamline filing season. The press release advises taxpayers to check "Where's My Refund?" for information regarding their tax return;…
Read more about IRS Service Updates Refund Status via Website, App
On March 3, the IRS announced its “Top Ten Identity Theft Prosecutions” – a list detailing some of the most infamous cases for Fiscal Year 2014 that resulted in prison sentences. The article quotes…
Read more about IRS-Criminal Investigation Cracks the Whip, Comes Down Hard on ID Thieves
On Wednesday, March 4, the US Supreme Court will hear oral arguments in the case of King v. Burwell, a challenge to the Patient Protection and Affordable Care Act (ACA). Unlike many of the cases to…
Read more about What the ACA Supreme Court Case Means To Tax Preparers
The IRS recently published notices concerning gross income and waivers for farmers and fishermen who received erroneous Forms 1095-A:Notice 2015-21 provides a proposed revenue procedure that, if…
WASHINGTON ― Farmers and fishermen who miss this year’s March 2 tax deadline because they are receiving corrected premium tax credit forms (Form 1095-A) from the Health Insurance Marketplace will…
The IRS recently released information about early retirement distributions that could prove useful to tax preparers, covering additional taxes on early withdrawals, nontaxable withdrawals, check…
Read more about IRS Tax Tips: Key Points to Know About Early Retirement Distributions
WASHINGTON — The Internal Revenue Service recommended and the Department of Treasury approved the selection of 29 new members to serve on the nationwide Taxpayer Advocacy Panel (TAP). The TAP is a…
Read more about IRS Press Release: Taxpayer Advocacy Panel Members Selected
