Drake Software Desk Reference Guide for Tax Year 2025: Version Two
With the IRS still developing instructions for Schedule 1-A and making revisions to previously released guidance—such as the updated figures in Rev. Proc. 24-40, along with several provisions still awaiting official regulations—tax professionals are navigating an unusually uncertain landscape.
Stay Informed in a Year of Constant Tax Law Shifts
Because IRS guidance continues to evolve, portions of the current Desk Reference Guide may change. We are monitoring developments closely to ensure accuracy.
To keep you informed, Version 3 of the Desk Reference Guide will be released as soon as the IRS publishes clarifying updates, ensuring you always have the most current and reliable information at your fingertips.
Why is the 2025 desk reference guide considered a tax season best practice?
From a preseason checklist to due diligence requirements to updated tax rate schedules, having a checklist can help streamline your practice.
What is included in the desk reference guide?
- Updated deductions including standard and MACRS recovery periods, information on medical savings accounts (MSA) and health savings accounts (HSA)
- Filing requirements for tax year 2025 including dependents
- Child tax credit updates
- Student load deductions
- Earned income credit
- Drake Software best practices, and much more
