Drake Software blog for tax pros, covering tax, IRS news, and more
The Internal Revenue Service has issued Notice 2020-86, addressing certain parts of the SECURE Act that affect safe harbor plans—including safe harbor 401(k) plans and some 403(b) plans.…
Read more about New IRS Guidance Eases Burdens on Certain Safe Harbor Plans
The tax-filing season will be upon us before we know it, so the Internal Revenue Service is urging taxpayers to take actions now to help ensure they can file timely and accurate returns in 2021.…
Read more about What’s New, What to Consider When Filing in 2021
The Internal Revenue Service is giving employers a friendly nudge to remind them that their Forms W-2 and other wage statements have to be filed by Feb. 1, 2021, to avoid penalties.…
Read more about 2021 Deadline for W-2s Closer Than You Think
With 2020’s extended tax deadlines due to the coronavirus pandemic, it seems like we just wrapped up the previous tax season. But believe it or not, the next filing season kicks off Jan. 1, 2021.…
Read more about Get Started Now to Make Next Tax Season Easier
Anyone who doesn’t normally file a tax return but hasn’t already received an Economic Impact Payment (EIP) is urged by the IRS to take advantage of its “National EIP Registration Day.”…
Read more about IRS Reminds Last Chance for Non-Filer EIPs Not Far Away
The Internal Revenue Service announced that some college students could qualify for an Economic Impact Payment. This press release is part of the agency’s push to get all eligible non-filers to register for an EIP before the Nov. 21, 2020 deadline, and it comes days before National EIP Registration Day.…
Read more about IRS Says Self-Supporting College Students Could Qualify for an EIP
The Internal Revenue Service has unveiled changes they say will help struggling taxpayers affected by the pandemic settle their IRS tax debts more easily.…
The Internal Revenue Service is continuing its push to get non-filers to register so they can receive an Economic Impact Payment or EIP.…
Read more about IRS Sets Nov. 10 as "National EIP Registration Day"
Taxpayers dealing with the fallout from wildfires in California and Hurricane Delta in Louisiana yesterday received some good news from the Internal Revenue Service. Following the Federal Emergency Management Agency’s disaster declarations for affected areas, the IRS is giving victims additional time to meet certain filing and payment deadlines.…
Read more about Tax Relief for Wildfire and Hurricane Victims
Americans who don’t normally file a tax return now have more time to apply for an Economic Impact Payment (EIP). The Internal Revenue Service this week announced that the deadline for non-filers to send EIP-qualifying information has been extended to November 21, 2020.…
