Drake Software blog for tax pros, covering tax, IRS news, and more
The IRS announced in January that there will be a delay in the release of 31 tax forms due to the late enactment of tax legislation, the need to update the forms, and the need to test processing systems. Two of the 31 forms have since been released, however...…
A recent lawsuit arguing the IRS lacks the authority to require tax preparers to pass a competency exam and take continuing education courses brought the IRS’s RTRP (Registered Tax Return Preparer) program to a screeching halt when the federal court judge agreed and issued a ruling that voided the RTRP process. But the IRS is not accepting the ruling ...…
Sequestration: a series of across-the-board federal cuts scheduled to occur if Congress doesn’t take actions to cut spending. The deadline from Congress to take action is Friday, March 1. If no action is taken and sequestration goes into effect,...…
Modernized e-File (MeF) was successfully brought back online at 11:00 pm, Eastern on February 21, 2013 and is now operational for all service requests.…
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If you haven't renewed your EFIN, you may experience difficulty e-filing. The IRS can deactivate your Authorized IRS e-file Provider status if they receive undeliverable mail or are unable to contact…
Although most everyone is aware of the dangers of identity theft, the IRS is expecting difficulties in wading through all of the tax returns that are to be filed this year. The hardest part will be…
IRS Tax Tip 2013-12Most types of income are taxable, but some are not. Income can include money, property or services that you receive. Here are some examples of income that are usually not…
Simply put, the IRS is serious about stopping identity fraud. They’re also serious about punishing those who attempt it.…
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The Congress shall have power to lay and collect taxes on incomes from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration. [U.S.…
FYI...Due to the high volume of tax payers checking the site "Where's My Refund", the IRS has throttled the site for the weekend. Some taxpayers will be able to access and others will receive a…
