Every filing season has unique challenges that attorneys, CPAs, EAs, and other preparers have to overcome when helping clients file their tax returns. To learn what tax professionals think about their experiences, Drake Software sends out its annual “How Did Your Filing Season Go?” survey.…

Read more about How Did Your 2023 Filing Season Go? [Infographic]

As an IRS-approved continuing education provider, we know that preparing for the upcoming filing season requires more than updating your professional tax preparation software. That’s why our education specialists work tirelessly to deliver self-study and on-demand continuing education courses. We’re proud to announce that the Drake Software 2023 Annual Federal Tax Refresher Course (AFTR) is now available!…

Read more about Now Available: DrakeCPE 2023 AFTR Course!

Every year, CPA Practice Advisor asks readers to vote on the technology—both software and hardware—they trust the most. Just one day before the individual filing deadline, the publication announced the results of its nineteenth annual Readers’ Choice Awards, which included more than 5,000 respondents.…

Read more about Drake Software Wins 8 Categories in 2023 CPA Practice Advisor Readers’ Choice Awards

After severe thunderstorms and tornadoes raked parts of Tennessee on March 31, many of Volunteer State taxpayers could use a little good news. The Internal Revenue Service is doing its part, announcing tax relief for storm victims.…

Read more about Tennessee Storm Victims Have Deadlines Moved to July 31

The IRS recently published a tax tip explaining Form 1099-K, covering why taxpayers receive it, how to address incorrect forms, and recent updates to reporting rules. This update comes almost three weeks after reports emerged that some taxpayers received incorrect forms.…

Read more about IRS Issues Tips for the 1099-K

Identity theft usually takes center stage during most tax-scam discussions. After all, so much of our personal and professional lives take place online in emails, texts, and direct messages—all of which are ripe targets for phishing attacks. However, not all identity threats are limited to inboxes.…

Read more about 2023 Dirty Dozen: Ineligible Employee Retention Credit Claims

Paper returns have historically been slower to process due to the Internal Revenue Service having to manually transcribe information, leading taxpayers who want to more quickly receive their refund to electronically file. However, there could be a light at the end of the tunnel for those who either prefer or are required to file paper returns.…

Read more about IRS Digital Intake Initiative Underway

The Internal Revenue Service recently extended tax relief for disaster victims in Alabama, California, and Georgia. Individuals and businesses in these federally declared disaster areas now have until October 16, 2023, to meet several filing and payment deadlines.…

Read more about Tax Relief Extended for Disaster Victims in Alabama, California, and Georgia

Taxpayers with foreign bank accounts who forgot to file an annual Report of Foreign Bank and Financial Accounts (FBAR) received some good news at the end of February. In Bittner v. United States, the Supreme Court ruled that the penalty for nonwillful failure to file an FBAR should be assessed on a per-report basis—capping fines at $10,000 per year, regardless of the number of accounts.…

Read more about SCOTUS Rules FBAR Penalty Determined on Per-Report Basis

Filing an amended return used to mean completing a paper form, regardless of how taxpayers submitted the original return to the Internal Revenue Service. During the pandemic, paper-filed returns…

Read more about IRS Announces Direct Deposit for Amended Returns