Drake Software blog for tax pros, covering tax, IRS news, and more
Today, the IRS reminded taxpayers that money spent on summer day camps can be eligible for a tax credit if the attending child or dependent qualifies under the rules outlined in Publication 503. This…
You’ve heard the names of the top firms in tax preparation. The firms that have proven successful despite competition, ever-changing tax regulations, compliance requirements, and proposals for…
Today, the IRS announced that it will increase the amount of information shared between the tax preparation industry and the government to safeguard taxypayers from identity theft and tax refund…
Yesterday, the IRS released a tax tip pertaining to the upcoming June 15 deadlines for U.S. citizens living abroad and foreign financial accounts. The reminder provides basic instructions for…
The purpose of this article is to explore the methods for analyzing cash-based businesses. We will explore techniques for uncovering unreported income. I will take you into the new digital world for…
On the heels of catastrophic flooding in Oklahoma and Texas and the official start of hurricane season, the IRS issued a tax tip reminding taxpayers and preparers that there are multiple ways the…
When Reid Hoffman and a team of former executives from PayPal and SocialNet.Com launched LinkedIn in the spring of 2003, it was as a resume-sharing site. From this humble beginning, it quickly…
Read more about Promoting Your Tax Preparation Business Using LinkedIn
Today the IRS confirmed that Get Transcript - an application allowing taxpayers to review "line-by-line tax return information or wage and income reported to [the IRS]" - was illegally accessed…
Since the DC Court of Appeals upheld the district court ruling in Loving v. IRS – which determined that the IRS does not have the authority to require certification exams of tax preparers – the IRS…
According to Revenue Ruling 2015-13, April 18 will be the filing deadline for most of the country in 2016. Since Emancipation Day – a legal holiday in D.C. – falls on a Saturday, it will be observed…
