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
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 The complex tax code in America originally enacted the AMT in 1969 as a way to keep high-income taxpayers from ...…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.…
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,...…
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…
