Drake Software blog for tax pros, covering tax, IRS news, and more
While Monday, October 17 is the deadline to file tax returns for those who requested an extension earlier this year, some taxpayers may have additional time due to military service or disaster assistance. Additionally, the FBAR deadline has been extended for some due to natural disasters.…
Read more about IRS Reminds Taxpayers of Disaster Extensions for Tax Returns and FBAR
The Internal Revenue Service this week announced tax relief for victims of Hurricane Ian who reside or operate a business anywhere in North Carolina and South Carolina. Like relief granted to storm victims in Florida, the agency is delaying several federal filing and payment deadlines.…
Read more about Storm Victims in North Carolina and South Carolina Get Tax Relief
Hurricane Ian slammed into the Florida coast last week, leaving a trail of destruction that resulted in more than a million without power and 81 confirmed dead. The Internal Revenue Service announced tax relief and dyed diesel fuel penalty relief for storm victims following a disaster declaration for the entire state by the Federal Emergency Management Agency (FEMA).…
Read more about Florida Storm Victims Get Tax and Fuel Penalty Relief
Identity theft. Just the mere mention of this mayhem masquerade is enough to make the blood of tax professionals everywhere run cold.…
Read more about Multi-Factor Authentication Can Head Off Sophisticated Scammers
We all know that identity thieves aren’t letting up in their efforts to steal your clients’ personal information so they can file fraudulent tax returns. If anything, they’re picking up the pace.…
Most tax-season-preparation checklists include updating software, reviewing tax law changes, earning continuing professional education credits, and training seasonal staff. Creating or updating a written information security plan (WISP) is one often-overlooked item that should make everyone's list. After all, tax professionals are required by the Federal Trade Commission’s Safeguards Rule to have one of these plans in place to protect client information.…
Read more about Security Summit Announces New Sample Security Plan
This summer, the country has been hammered by extreme weather—from oppressive heat waves to torrential rains. In response to deadly flooding in Eastern Kentucky, the Internal Revenue Service announced tax relief for counties the Federal Emergency Management Agency declared disaster areas.…
Read more about IRS Announces Tax Relief for Kentucky Flood Victims
It’s never too early to start planning for the next tax season. For millions of tax pros, that means figuring how to make their operations more secure.…
One of the Internal Revenue Service’s main advisory committees is asking Congress to give the agency the funding it needs to function well. The recommendations, split into two categories, come from the Electronic Tax Administration Advisory Committee, or ETAAC, in its annual report to Congress.…
Read more about ETAAC Recommends IRS Funding, MeF Enhancements
Every year, the Internal Revenue Service hosts the Nationwide Tax Forum, providing tax professionals the opportunity to learn more about topics like tax law and cybersecurity. Unfortunately, the registration window for this year's event is about to close.…
Read more about Time Short to Register for Nationwide Tax Forum
