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

Bob Williams

Forget genes; I’ve got words in my DNA. Communication has been part of who I am nearly all my life. From a long career in radio news to another one in newspapers – and a University of Georgia journalism degree sandwiched between the two – language has been my life. I’ve also been fortunate to have learned the tax business from the ground up here at Drake, starting with 1040.com online forms some years ago before moving on to work on the Web. In all things tax-ish, we aim to give you tools you can use.

Home Office Deduction Can Help Small Businesses

Bob Williams - May 31, 2019

It’s no secret that running a successful small business isn’t easy. The Internal Revenue Service reminds small-business owners that they may qualify for a home office deduction that can help their bottom line and give them one less thing to worry about.…

Taxes and Historic Buildings

Bob Williams - May 24, 2019

May is National Historic Preservation Month, and plenty of organizations around the U.S. are promoting historic buildings and other important heritage sites around the country.…

IRS Fixes Error in Schedule D Worksheet

Bob Williams - May 22, 2019

The Internal Revenue Service says it has corrected a calculation error in its 2018 Schedule D Tax Worksheet. The worksheet should have taxed capital gains at a lesser rate, as mandated by the new tax reform package, the Tax Cuts and Jobs Act, passed in 2017.…

IRS Increasing Renewal Fees for EAs

Bob Williams - May 20, 2019

The Internal Revenue Service has issued its final regulations updating fees for enrolled agents and enrolled retirement plan agents.…

IRS Spotlights Depreciation, Expensing for Small Business

Bob Williams - May 09, 2019

As part of National Small Business Week, the Internal Revenue Service is highlighting changes in depreciation and expensing rules for businesses.…

Make Estimated Tax Payments So Your Business Doesn’t Owe

Bob Williams - May 09, 2019

The Internal Revenue Service reminds small-business owners and self-employed taxpayers alike: avoid a surprise tax bill (and possibly a penalty) by making estimated tax payments during the tax year.…

IRS Tightens EIN Regulation

Bob Williams - May 08, 2019

The Internal Revenue Service says getting a tax ID number for a business is going to be a little tougher after May 13. After that date, the IRS will require the taxpayer listed as the “responsible party” on the EIN application to have a Social Security number (SSN) or an individual taxpayer identification number (ITIN) in order to receive an Employer Identification Number (EIN) from the IRS.…

Reminders for National Small Business Week

Bob Williams - May 07, 2019

The Internal Revenue Service has issued a few reminders to small business owners to go along with this week’s observance of National Small Business Week.…

It's Small Business Week at the IRS

Bob Williams - May 06, 2019

It’s National Small Business Week at the Internal Revenue Service! All this week the IRS will be emphasizing the many online resources it has available for small business owners and self-employed individuals.…

Russian Charged in Identity Theft Heist

Bob Williams - May 02, 2019

A 33-year old Russian national has been charged in federal court with stealing taxpayers’ personally identifiable information (PII) and using that data to steal more than $1.5 million from the U.S. Treasury.…