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

Ryan Norton

Whether designing superheroes, penciling caricatures, or just doodling, I always knew I was going to earn some sort of art degree while in college. That was my goal before I decided to trade Edgar Degas for Edgar Allan Poe during a Freshman English class. The BA in English soon morphed into a double-major in English and Philosophy, eventually becoming an MA in English. It only makes sense that I learned of a writing opportunity for a local marketing firm while teaching a first-year college English course. Before I knew it, I was writing and editing tax-related articles for Taxing Subjects, and this has been my home since 2014.

FTC Warns of New Unemployment Identity Theft Scam

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FTC Warns of New Unemployment Identity Theft Scam

The CARES Act was the first of three major COVID-relief packages that have infused the US economy with stimulus funds provided for items like direct payments, new and expanded tax credits, forgivable business loan programs, and extended unemployment insurance. Identity thieves responded by deploying a host of scams that try to steal those federal dollars from hard-hit Americans, leading to a near-constant stream of alerts from the Internal Revenue Service and the Federal Trade Commission.…

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Employee Retention Credit Updated by the American Rescue Plan

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Employee Retention Credit Updated by the American Rescue Plan

The sweeping American Rescue Plan Act of 2021 may have greenlit the third round of economic impact payments, but it also includes changes to several tax credits—many of which were designed to provide relief to struggling Americans whose finances took a hit during the pandemic. One of those affected tax credits helps both employees and businesses: the employee retention credit, or ERC.…

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Tax Day Pushed Back to May 17

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Tax Day Pushed Back to May 17

Much like last year, the 2021 filing season has been characterized by challenges. The season started later than usual, tax professionals and taxpayers continue to manage pandemic safety precautions, and guidance is pending for the retroactive tax law changes included in the American Rescue Plan Act of 2021 that President Biden signed into law last week.…

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IRS Reminds Employers About Repayment of Deferred Social Security Tax

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IRS Reminds Employers About Repayment of Deferred Social Security Tax

The Internal Revenue Service yesterday released a COVID Tax Tip highlighting guidance for employers who deferred payment of their employee’s 2020 Social Security tax. Initially described by legislators as a “payroll tax holiday,” the agency reminds participating employers that they still have to pay deferred employee Social Security tax by the new deadlines.…

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