At Drake Software®, we are continually refining the tools you need to manage your tax and accounting practice effectively. We’re excited to introduce a new feature in Drake Pay that enhances the payment process for tax preparers and their clients.…

Read more about Drake Pay™ Launches New Feature: Request Payments via Email with Secure Payment Link

In this second installment of our overview of the 2024 Dirty Dozen, we look at the stern warnings issued by the IRS regarding scammers who promote schemes designed to evade taxes, scams targeting the wealthy, and dubious social media advice. Continue reading to help prepare your practice against tax scams and schemes.…

Read more about Tax Fraud and Scams Online and Offshore: The IRS Dirty Dozen, Part 2

The IRS issues relief packages to areas that recently experienced natural disasters or events designated as disasters by the United States government. This blog post provides extension details and provides information on IRS legislature about filing tax returns in the wake of extreme weather or disaster incidents. Bookmark this post for updates!…

Read more about IRS Disaster Relief

The Internal Revenue Service (IRS) has announced the agenda for the 2024 Nationwide Tax Forum, which will feature 45 seminars aimed at enhancing the skills of tax professionals. This year's forum, which includes contributions from the IRS and leading tax associations, will cover a broad spectrum of topics designed to help tax professionals better serve their clients. Continue reading for more information on this topic.…

Read more about IRS Unveils 2024 Nationwide Tax Forum Agenda with 45 Seminars

Many businesses, enticed by misleading information, have found themselves unwittingly in non-compliance with ERC regulations. The IRS has urged tax preparers to act soon to verify their compliance, emphasizing the need for proactive review and correction. Read our full post for more important news on this tax topic.…

Read more about ERC Voluntary Disclosure Program Deadline is March 22

Tax season is in full swing, and with it comes a surge in scams targeting tax professionals. The Internal Revenue Service (IRS) and Security Summit partners have issued a warning for tax preparers about a new email scam. Read more to ensure your firm is prepared for these situations.…

Read more about IRS Warns Tax Preparers of EFIN Documentation Scam

The Employee Retention Credit (ERC), initially introduced as part of the CARES Act in 2020 and extended through subsequent legislation, aims to provide financial relief to businesses impacted by the COVID-19 pandemic. However, claiming this credit requires adherence to specific criteria outlined by the IRS. In light of this, the IRS has issued a reminder urging businesses to review their qualifications for the ERC diligently. Read the rest of our latest blog post to find out more on this topic.…

Read more about Victims of ERC Fraud Can Use Voluntary Disclosure Program Through March 22

In a significant move last week, the Treasury Department and IRS announced that digital assets received by businesses do not follow the same reporting requirements as cash assets in 2024, at least until the issuance of specific regulations. Read more from our latest blog post here.…

Read more about IRS Clarifies Digital Assets Not the Same as Cash—Yet

Drake Software® is excited to introduce Drake Pay™, a payment integration solution that works seamlessly with Drake’s suite of software products. This solution allows our customers to accept payments…

Read more about Meet Drake Pay: an Integrated Payment Processing Solution

Name, Image, and Likeness (NIL) income, or income gained from personal brand influence, has opened opportunities for student-athletes in college athletics. With the additional income stream comes new tax implications, however, that many student-athletes have not previously encountered. Read the new blog entry to discover what this means for tax preparers and college sports.…

Read more about Name, Image, and Likeness (NIL) Income for College Athletes [DOWNLOAD]