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

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IRS Has Good News for Taxpayers Who Under-Withheld

Ryan Norton - January 18, 2019
IRS Has Good News for Taxpayers Who Under-Withheld

The IRS announced it would waive the penalty for insufficient estimated tax payments and withholding.…

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Winter Storms Prompt IRS to Grant Relief to Businesses

Bob Williams - March 13, 2018
Winter Storms Prompt IRS to Grant Relief to Businesses

It’s been a rough winter for residents of the Northeast: three severe winter storms in just two months. Fortunately, the IRS is helping to take a little of the bite out of the winter wind for those most affected.…

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IRS: PTC Payment Recipients Should Report Changes in Income or Family Size

Ryan Norton - July 07, 2016
IRS: PTC Payment Recipients Should Report Changes in Income or Family Size

The IRS yesterday issued a reminder to taxpayers who receive premium tax credit (PTC) advance payments, noting that some circumstance changes could result in the household owing additional money next…

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October 15, Filing Extension Deadline

admin taxing_subjects - September 30, 2015
October 15, Filing Extension Deadline

IRS Offers Advice for Those with Extensions Expiring on October 15October 15 is the deadline for 13 million taxpayers with a tax-filing extension, and the IRS wants to make sure those…

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Press Release: Inflated Refund Claims Remain on the IRS “Dirty Dozen” List of Tax Scams

admin taxing_subjects - February 12, 2015
Press Release: Inflated Refund Claims Remain on the IRS “Dirty Dozen” List of Tax Scams

WASHINGTON — The Internal Revenue Service today warned taxpayers to be on the lookout for unscrupulous tax return preparers pushing inflated tax refund claims. This scam remains on the annual list of…

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New Standard Mileage Rates Now Available; Business Rate to Rise in 2015

admin taxing_subjects - December 12, 2014
New Standard Mileage Rates Now Available; Business Rate to Rise in 2015

WASHINGTON — The Internal Revenue Service issued the 2015 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving…

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Termination III – Firing clients

admin taxing_subjects - February 18, 2014
Termination III – Firing clients

Termination III – Firing clientsBy James StorkVP of Education, Drake Software Sooner or later, every firm has to fire a client. That’s counter-intuitive, because one of the most powerful tenets in…

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