Taxpayers who pay qualifying expenses for a student can be eligible for the American opportunity tax credit, lifetime learning credit, or the tuition and fees deduction...…
Read more about Don’t Overlook Education Related Tax Benefits
WASHINGTON —The Internal Revenue Service today provided late-payment penalty relief to individuals and businesses requesting a tax-filing extension because they are attaching to their returns any of the forms that couldn’t be filed until after January.…
Read more about Relief Available To Many Extension Requesters Claiming Tax Benefits
IRS Fires BackThe IRS has fired back against tax preparer responses concerning a recent motion it filed in the case of Loving v. IRS – a lawsuit three preparers filed against the IRS charging it does…
A new website provided by Drake Software hits the sweet spot, giving taxpayers and employers a to-the-point, layman’s overview of the Affordable Care Act’s (ACA) looming tax implications. The site, located at...…
Read more about New Website: Overview of the Affordable Care Act's Tax Implications
The IRS has seen a few problems with the way the form is completed that could delay processing. The IRS has requested tax preparation software providers modify their programs so that they require completion of the correct boxes...…
In January, a trio of independent tax preparers filed suit challenging the IRS’s authority to impose its Registered Tax Return Preparer regime – something it developed with the hopes of increasing the quality of the tax preparation industry and improving service to taxpayers. A federal judge ruled ...…
Social networking is something that many smaller businesses are attempting in today’s technological world. In order to take full advantage of all that social media has to offer to businesses...…
The concept of the alternative minimum tax is anything but minimum. The complex tax code in America originally enacted the AMT in 1969 as a way to keep high-income taxpayers from ...…
Customers new to Drake are often amazed when they call and a real person with real answers picks up the phone.…
Holds on EITC Returns Have Ceased Last week, reports indicated that the IRS was paying special attention to tax returns that claimed the EITC, thus delaying their refunds. Ironically, taxpayers who…
