Drake Tax is loaded with features to help you quickly and efficiently prepare and process your customers’ returns. So you can stay focused on the important stuff — working with clients and building your business.
Save Time, Stay Productive
- The speed you need – Drake Tax helps you do everything quicker, and speeds you through every step of preparing a return. Calculation results and full return view just a click away.
- Shortcut keys and macros simplify data entry and reduce keystrokes.
- Automatic data flow from federal return to state and city returns, with override options. State and city returns generated as needed. Automatic credit for taxes paid to other jurisdictions. Drake Tax also auto-fills from ZIP Code and EIN entries.
- Multi-state returns – Create any state return you need, without having to buy a state add-on module.
- LookBack – Easily view fields that had data in them last year. A keyboard shortcut toggles the view, so you can quickly verify prior-year data.
- LinkBacks – Track calculated results on the tax return back to the source.
- DoubleCheck – Mark items in any text box, check box, or amount on a tax form as verified, flagged for review, or noted for review. If information for a verified item changes, DoubleCheck will automatically flag the item for review.
- Update prior-year data to current year, either all at once or as needed.
- Easy backups of any or all client data, plus custom settings. Restore to the same or a different computer. Plus, now you can back up to your Drake Portals (SecureFilePro) account for safe cloud storage.
- Easy software updates – Choose automatic updating, or just update when you’re notified. Either way, it takes just seconds.
- Save time with optional hardware – Add a digital signature pad to e‑sign forms and bank applications. Or a 2D barcode scanner to import W-2s or K-1s with 2D barcodes.
- Work with Drake Documents – Store and access tax forms, returns and documents in Drake Documents, your digital filing cabinet.
- Taxpayer forms in Spanish – Drake Tax includes 12 printable taxpayer forms in Spanish, including Forms W-4, W-7, 13844, and 2350.
- Access online tax research – Search a customizable list of online tax resources.
- Collect fees – Accept credit and debit card payments within Drake Tax.
Import and Export
- Electronic W-2s – Download and import for select employers.
- Schedule D import – Load investment transactions from an Excel or text file.
- 8615 export – a quick, two-step process to export parents’ tax information to a child’s Form 8615.
- K-1 export – K-1s from 1041, 1120S, and 1065 returns flow to 1040 returns.
- End-of-year balance import – Get end-of-year balances from Client Write-Up or QuickBooks.
- Trial balance import – Enter data from your balanced books into our trial balance spreadsheet and import the information into an 1120, 1120S, or 1065 return.
Plan & Analyze
- Drake Tax Planner – Show clients how marital status, dependents, income, etc. can affect their taxes. Save multiple scenarios, and tweak reporting options as needed.
- Compare taxes year to year – Analyze multiple tax years in a convenient worksheet.
- Compare filing joint vs. separate – See at a glance which filing status would be more beneficial.
- Return archiving – Create a version of a return for comparison and safekeeping. Revert to a version with just a click. Helpful for testing different return scenarios.
- Quick Estimator shows your client’s refund in just a few clicks.
- Amortization schedules – Figure loan payment amounts, interest or loan length.
- Calculation results display return info at a glance, including error messages, notes, fees, refund amount, and e-file eligibility.
- Calculation error messages show how to correct problems that would cause an IRS rejection.
- Calculation notes messages provide reminders and tips about issues that would not cause rejects.
- Organized return viewing – Select which forms to print, change print order, customize print sets, even access form pricing. View forms in a tree structure or by category.
- Print sets – Control which forms and the order they’re printed for client, preparer, paper filing, or custom sets.
- Print to PDF – Create password-protected PDF of a return to email to your client. Or save a PDF of a return to Drake Documents.
- Note screens let you add a note for a form, or for the return. Use to remind yourself or to inform other staff.
- PIN and consent screens provided for customers to approve the return, and for consent forms and bank documents.
- Drake E-Sign – Use an optional signature pad to bind customer signatures securely to the return, eliminating the need for a paper version.
- E-file states with the federal return or separately, if necessary and the state allows separate e-filing.
- Attach PDFs to returns for e-filing. Documents can also be stored in Drake Documents.