Drake Software blog for tax pros, covering tax, IRS news, and more
In 2015 Congress mandated the IRS use private debt collectors to bring in billions of dollars in outstanding tax debt owed by taxpayers.…
Read more about New Collection Program Yields Same Old Results
The Internal Revenue Service has opened the doors to registration for this year’s Nationwide Tax Forum series.…
Read more about IRS Opens Registration for Nationwide Tax Forum 2019
A computer glitch is being blamed for an erroneous tax notice sent to some New York State taxpayers. Buffalo, N.Y. TV station WKBW reports the notices say the taxpayer’s income tax refund has been adjusted to zero because they “are not entitled to a refund.”…
Read more about Computer Glitch Blamed for NYS Tax Notice Miscue
Tax Day may have come and gone, but that doesn’t mean we stop talking about tax-related issues after April 15.…
The IRS is about to begin a long-awaited upgrade program to its antiquated information and taxpayer services systems.…
The Section 199A qualified business income (QBI) deduction has been a source of confusion for taxpayers and tax professionals alike since it debuted with the Tax Cuts and Jobs Act.…
With just days left in the TY 2018 filing season, the IRS and its Security Summit partners have announced major progress has been made in the fight against tax-related identity theft. What’s more, they say, their combined efforts have added protection for thousands of taxpayers and billions of dollars in refunds.…
The House Ways and Means Committee this month announced that they passed “historic legislation to redesign the IRS:” The Taxpayer First Act of 2019. According to the press release, this type of bipartisan agency overhaul has not been attempted in more than two decades, and it focuses on taxpayer customer service, data security, and updating internal IRS rules and technology.…
The IRS issued a revenue ruling that outlines how taxpayers should treat their now-limited SALT deductions on tax year (TY) 2018 returns and explains how those decisions could affect their tax return next year.…
A new report finds the U.S. isn’t using the available tools effectively to improve compliance among American taxpayers living abroad.…
Read more about GAO Finds Foreign Tax Reporting Needs Tweaks
