Drake Software blog for tax pros, covering tax, IRS news, and more
The Internal Revenue Service is making a pitch about the Advance Child Tax Credit payments that smacks of the spiel for sale pricing from used car dealers: “When it’s gone, it’s gone!”…
In October, we told readers about IRS relief measures that applied to some 19 Mississippi counties impacted by Hurricane Ida. That relief has now been expanded to add 63 other counties, covering the…
The Internal Revenue Service is doing a little extra to help those taxpayers who have suffered from the wildfires in California. The agency is pushing back the deadlines for filing and paying various individual tax returns to January 3.…
The Internal Revenue Service is pushing out more information for taxpayers interested in the Child Tax Credit and its advance payments.…
Taxpayers contributing to a 401(k) plan for their retirement have gotten some good news from the Internal Revenue Service: they can now put more money into their plan for 2022.…
A new provision in the tax code lets more taxpayers deduct up to $600 in donations to qualified charities—even if they don’t itemize.…
Read more about Some Non-Itemizers Can Deduct Charitable Donations
Families who have significant income changes to report for the advance Child Tax Credit payments are running out of time to pass those changes on to the Internal Revenue Service.…
While most of the nation’s attention is turned to fall colors and the Thanksgiving holidays, residents of some Mississippi counties still have all-too-vivid memories of meaner weather earlier in the summer.…
Read more about Some Mississippi Counties Get Expanded Ida Relief
The Internet is filled with cybersecurity threats that can jeopardize family finances. Just one of many scams, identity theft tax refund fraud (ITTRF) is big business for criminals, and it can cause big headaches for victims.…
It’s that time again: time for federal tax return preparers to renew their Preparer Tax Identification Numbers (PTINs) for the coming year. It’s no time to procrastinate, since 2021 PTINs will expire on Dec. 31.…
