Drake Software blog for tax pros, covering tax, IRS news, and more
There is no such thing as a “typical” tax season.Between last-minute tax law changes; too few seasonal workers, or too many; and even the weather; the fates conspire to fulfill the ancient curse from…
In an effort to combat fraud and identity theft, new IRS procedures effective January 2015 will limit the number of refunds electronically deposited into a single financial account or pre-paid debit…
Read more about New Direct Deposit Limits Could Affect Preparers and Their Customers
A U.S. District Court in Oklahoma has ruled that the IRS does not have the authority to offer subsidies for federally established ACA exchanges. In his decision on Pruitt v. Burwell, Judge Ronald A.…
Facing Challenges - Creating SolutionsThe Challenge: Melding two management styles and different levels of experience into a single, client-focused tax practice.The Solution: Recognizing that clients…
Treasury Department and IRSThe Department of the Treasury and its Internal Revenue Service have issued a five-part notice outlining proposed regulations under sections 304(b)(5)(B), 367, 956(e),…
Read more about IRS Issues Notice 2014-52 Regarding Inversions and Related Transactions
Democratic Lawmakers Introduced Bills to Curb the PracticeIn the wake of Burger King’s announced purchase of Canadian doughnut maker Tim Horton’s to reduce its international tax burden, Democratic…
Read more about Congress Introduces Legislation to Curb Corporate Tax Inversions
From The Office of the Treasury Inspector GeneralThe Return Preparer Office of the IRS coordinates the IRS strategies in dealing with non-compliant preparers that have a history of preparing…
Read more about TIGTA Recommends Improved Controls for Selection of Problematic Preparers
US National Archives and Records Administration: http://www.datmgm.com.Information Technology Association of America quoting data from FEMA: http://www.itaa.org/isec/i.Sources: Internal Revenue…
The IRS is stepping up its efforts to promote the voluntary Annual Filing Season Program (AFSP) today as it begins to send informational emails to approximately 390,000 tax return preparers regarding…
Read more about IRS Return Preparer Office to Email 390,000 Tax Return Preparers About AFSP
The Internal Revenue Service recently published Notice 2014-57, an annual notice providing the 2014-2015 special per diem rates for taxpayers to use in substantiating the amount of ordinary and…
Read more about IRS Releases New Per Diem Rates for 2014-2015
