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

Audit Finds FATCA Enforcement Failed

Audit Finds FATCA Enforcement Failed

The Internal Revenue Service has spent millions of dollars trying to get taxpayers located in foreign countries to report their holdings for tax purposes. A new federal audit, however, finds the IRS has fallen short in the effort.…

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Audit Finds Employment Identity Theft Going Unnoticed

Audit Finds Employment Identity Theft Going Unnoticed

Identity theft has gotten a lot of attention over the past couple of years. We’ve written a lot about the subject during that time. One of the varieties of identity theft is employment identity theft, but the agency that oversees the IRS says legitimate taxpayers aren’t being notified they’re a victim of this crime.…

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IRS Urges Taxpayers to Renew ITINs

IRS Urges Taxpayers to Renew ITINs

The Internal Revenue Service says taxpayers who have not renewed their expired Individual Taxpayer Identification Number (ITIN) will face processing delays if the number is used to file a return. In addition, the taxpayer could lose eligibility for key tax benefits until the ITIN is renewed.…

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New Phone Scam Aimed at Taxpayers

New Phone Scam Aimed at Taxpayers

Scammers have dusted off an old racket and added a couple of new twists in hopes of swindling taxpayers out of their money. The Internal Revenue Service says this scheme has been reported across the country, and asks taxpayers to be alert.…

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