The ETAAC released recommendations to improve electronic income tax filing in their 2023 annual report. The document asks the IRS to update their procedures and details legislation and other recommendations for both Congress and the IRS. Drake Software covers their Taxpayer Trust Model and the proposed changes in our recent blog post.…
Weeks of record flooding and mountain snows brought on by an “atmospheric river" in California resulted in a federal disaster declaration from the Federal Emergency Management Agency (FEMA). While disaster victims received tax relief from filing and payment deadlines, some were confused after receiving notices from the Internal Revenue Service.…
Read more about Calif. Disaster Victims Report Confusion Following IRS Notice
A new wave of advertising is churning up interest in a tax credit intended to help businesses and non-profits that tried to retain their employees during the COVID-19 pandemic. However, the ads on TV and radio, online, and even direct mail leave out a critical fact: most of the promoters’ clients won’t qualify for the credit.…
Read more about Real Facts About Bogus Claims for the Employee Retention Credit
The Internal Revenue Service is moving ahead with a program that will offer taxpayers a new option on for filing their 2023 returns next year. Dubbed “Direct File,” a scaled-down version of the full program will allow taxpayers to file online for free, using an IRS-run website.…
The Internal Revenue Service says it has almost $1.5 billion in leftover tax refunds for 2019 taxpayers who haven’t filed—but the time remaining to claim this money is slipping away.…
Read more about Time Running Out to Claim Tax Year 2019 Refunds
After severe thunderstorms and tornadoes raked parts of Tennessee on March 31, many of Volunteer State taxpayers could use a little good news. The Internal Revenue Service is doing its part, announcing tax relief for storm victims.…
Read more about Tennessee Storm Victims Have Deadlines Moved to July 31
The Internal Revenue Service has released its annual Dirty Dozen list of the top scams and schemes posing threats to taxpayers and tax pros, and this year sees some new schemes among the known scams from previous lists.…
Read more about 2023 Dirty Dozen Spotlights New Scams, Some Usual Suspects
The Inflation Reduction Act of 2022 (IRA) updated the Clean Vehicle Credit to make US-manufactured electric and fuel cell vehicles more attractive to American car buyers. Since provisions in the legislation changed several qualifying requirements that take effect in 2023, the Internal Revenue Service has been steadily issuing guidance since January.…
Read more about IRS Clarifies Mineral, Battery Component Requirements for Clean Vehicle Credit
The IRS recently published a tax tip explaining Form 1099-K, covering why taxpayers receive it, how to address incorrect forms, and recent updates to reporting rules. This update comes almost three weeks after reports emerged that some taxpayers received incorrect forms.…
Identity theft usually takes center stage during most tax-scam discussions. After all, so much of our personal and professional lives take place online in emails, texts, and direct messages—all of which are ripe targets for phishing attacks. However, not all identity threats are limited to inboxes.…
Read more about 2023 Dirty Dozen: Ineligible Employee Retention Credit Claims
