Drake Software blog for tax pros, covering tax, IRS news, and more
The Internal Revenue Service, along with its Security Summit industry partners, is sponsoring a national campaign next week to promote better practices to protect sensitive tax and financial data.…
The tax reform package that went into effect at the end of 2017 effectively doubled the standard deduction for individuals.…
Read more about Tax Reform Likely to Result in Fewer Taxpayers Who Itemize
https://www.irs.gov/newsroom/tax-relief-for-victims-of-november-8-wildfires-in-california…
Read more about California Declared Federal Disaster, Receiving Tax Relief
The Internal Revenue Service is reminding taxpayers and tax professionals that more families should be able to get more money this next tax season under the revised Child Tax Credit.…
Read more about Reminder: New Tax Law Revised Family Tax Credits
The Internal Revenue Service’s Criminal Investigations division (CI) has issued a glowing report of its activities for the past year.…
Read more about IRS Criminal Investigations Report Touts Year’s Successes
The Government Accountability Office recently audited the Internal Revenue Service’s financial statements for the 2017 and 2018 fiscal years.…
Guidance issued by the Internal Revenue Service shows tax reform legislation that took effect in 2018 pushes the caps on contributions to higher levels in 2019.…
Read more about Tax Reform Expands Retirement Contribution Limits
A study by the Government Accountability Office shows that whistleblowers may not be getting the reward money they’re entitled to after alerting the IRS to illegal foreign bank accounts.…
Read more about GAO Finds IRS May be Shortchanging Whistleblowers
The Internal Revenue Service says it is expanding the role of one of its advisory committees, by combining it with two other advisory panels.…
In a recent Tax Tip, the IRS reminded taxpayers that the Tax Cuts and Jobs Act (TCJA) lowered the backup withholding rate for 2018 to 24 percent.…
