The Internal Revenue Service has released its annual report for 2019, giving Commissioner Chuck Rettig a chance to explain the improvements implemented in the American tax system in the last year.…
Read more about IRS Annual Report: Tax Changes and Enforcement
Usually, the profits your clients earn are taxable. However, if a taxpayer sells their home, they may not have to pay taxes on the money they gain. So we’ve got some tips for taxpayers who are…
Paying Taxes: Does The IRS Take Plastic?Have your clients ever inquired about paying their federal tax bill with a credit card or debit card? Drake provides two options to help your client pay their…
Small-Business Partnerships to Be Priority of IRS Exams: Taxes The Internal Revenue Service is shifting its small-business audit focus from corporations to various types of partnerships as those…
Read more about Small-Business Partnerships to Be Priority of IRS Exams: Taxes
On December 20th the IRS announced that a due diligence checklist, Form 8867, will now be required to be filed with any federal return that claims the Earned Income Tax Credit (EITC). This decision will be enacted as of January 1, 2012, and all will affect returns filed after that date that claim the EITC.…
Unfortunately, taxpayers often don’t have the solid footing they think they have when it comes to medical deductions. While many medical costs are deductible—including the cost of treatment to alleviate conditions or diseases and the cost of prescriptions and certain diagnostic services—some are not.…
Himes’s story begins when she was a high-school student in West Virginia. She enjoyed serving others and was good with numbers, so it made sense that her dream was to someday become an accountant.…
