Drake Software blog for tax pros, covering tax, IRS news, and more
After the real estate crash, many taxpayers' mortgages exceeded the value of their properties, so they did a short sale or went through a foreclosure. Many of these taxpayers received...…
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
WASHINGTON —The Internal Revenue Service today provided late-payment penalty relief to individuals and businesses requesting a tax-filing extension because they are attaching to their returns any of the forms that couldn’t be filed until after January.…
Read more about Relief Available To Many Extension Requesters Claiming Tax Benefits
