Provided by Drake Software

CMS Announces Special Enrollment

Failure to File and Reconcile Addressed by February 5 Guidance

On Friday, the Centers for Medicare and Medicaid Services (CMS) announced a special enrollment period for those who are not enrolled in 2016 coverage due to failing to file a tax return for 2014 and reconcile their APTC. The special enrollment period is described as an effort to help people enroll who might otherwise miss out during the inaugural year of these requirements.

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IRS Starts Accepting e-Filed Returns Again

Hardware Failure Resolved

The IRS is once again accepting e-filed returns following the outage reported on Thursday. At the time of the outage, the agency seemed confident that the apparent hardware failure would not cause a delay for taxpayer refunds. Today, the IRS reiterated that belief – stating that the outage should not have much of an impact on the majority of refunds. [Read more…]

What to Do About Your Missing W-2

While the majority of taxpayers receive a W-2 before the beginning of January, sometimes it just doesn’t work out that way. Luckily – since it’s needed for filing an accurate return – the IRS has advice for people who are missing their Form W-2.

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IRS Releases Top 10 Tax Facts for Exemptions and Dependents

The IRS released another top 10 list, this time identifying the important information for exemptions and dependents. These tips aim to help taxpayers reduce the amount of tax they owe.

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IRS Issues 10 Tips for Choosing a Tax Preparer

Filing season began a little more than a week ago, and while some taxpayers have already filed their 2015 returns, many others are still gathering receipts and shopping around for a tax professional. To help the latter group, the IRS suggested ten things to do when choosing a tax preparer.

Here’s the checklist:

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IRS to Help Victims of Missouri Storm

Their Tax Filing Deadline has been Moved to May 16

The Federal Emergency Management Agency (FEMA) issued a disaster declaration for several counties in Missouri, prompting the IRS to provide tax relief for those affected taxpayers. Since this relief is automatically provided by the IRS, victims do not need to take any actions to receive the extension.

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Free Download: How Do Your Tax Prep Fees Stack Up?

Drake Software recently surveyed more than 7,000 tax professionals, examining the average charge preparing different forms, estimating the number of returns to be prepared this tax season, and more.

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10 Marketing Strategies for Small and Solo Practitioners

It can seem virtually impossible to run an effective marketing program for a small CPA or tax practice, and more so for solo practitioners. It’s not just that marketing requires a specialized skill set and some experience. There are four other – and equally daunting – reasons why a typical marketing program for tax and accounting operations may not be viable:

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The Last-Minute Checklist

Filing Season Begins Tomorrow

Tomorrow, your tax practice will kick off the busiest time of the entire year.  In fact, you may have already started accepting intake forms and other data from some clients.  On January 19, the IRS will begin to accept returns that are filed electronically, marking the beginning of the 2016 tax season.

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Free Download: 2016 ACA Quick Reference Guide

New ACA Quick Reference Guide Now Available

Find important ACA-related tax information fast in this quick reference guide by Drake Software!

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