Provided by Drake Software

IRS’s “Get Transcript Online” Program to Enter Beta Testing Soon

IRS Selects Random Get Transcript Page Visitors

In line with the IRS’s Future State goal of broadening online customer service options, the IRS recently announced that new authentication and access measures for Get Transcript will soon enter beta testing. [Read more…]

Taxpayer Advocate Holds Forum in Washington, DC

Industry Experts at IRS Auditorium, Discuss “Future State” Plan

The National Taxpayer Advocate Nina Olson yesterday held a public forum at the IRS Headquarters in D.C. to discuss the Future State plan. [Read more…]

IRS Issues Reminder to Prevent Tax-Related ID Theft

Some Tax-Exempt Forms are Open for Public Viewing; Don’t Include Unnecessary Info

May 16 is the filing deadline for some tax-exempt organizations, and, in the interest of combating identity theft, the IRS warned these organizations that Form 990-series returns do not require Social Security numbers or other personal data. [Read more…]

PATH Act Provision Delays Some Refunds

Last December, the PATH Act made permanent several tax extensions and incentives, including the Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC). It also included a provision that will delay refunds related to those two now-permanent tax credits. [Read more…]

IRS Guidance Announces Date for Voluntary Certification Program

Applications Accepted Starting July 1, 2016

The IRS yesterday provided preliminary information pertaining to the professional employer organizations (PEOs) voluntary certification program that was created by late-2014 legislation. [Read more…]

Drake Software Classroom Training and CPE Opportunities

April 18 – or April 19 for preparers in Maine and Massachusetts – doesn’t actually mean the end of tax-related work. [Read more…]

Drake Software Gets Positive Review in New Book

Million-Dollar Tax Business Cites Drake Software as a Key to Success

Drake Software received a strong endorsement in Chauncey Hutter, Jr.’s new book, BLOCKBUSTER: How to Build a Million Dollar Tax Business, which recently claimed a top-100 spot on the Amazon “Personal Taxes,” “Small Business Taxes,” and “Taxation” lists. BLOCKBUSTER is equal parts autobiographical and instructional, assuming a conversational tone while outlining the steps Hutter took to succeed in the tax preparation industry. [Read more…]

The IRS Issues “Last-Minute Tips” for 11th Hour Filers

We’re mere days away from the filing deadline, so it makes sense that the IRS would release a set tips to help avoid any last-minute bumps in the road. Yesterday they provided a list of seven things that taxpayers can do to have a smooth tax season. [Read more…]

Treasury Program to Help Americans Start Saving

Initially announced during President Obama’s 2014 State of the Union Address, myRA is a U.S. Treasury-backed Roth IRA program that was launched in November 2015. [Read more…]

Reduce Stress During Tax Season

Stress can worsen or increase the risk of conditions like obesity, heart disease, premature aging, Alzheimer’s disease, diabetes, headaches, depression, gastrointestinal problems, and asthma. For tax and accounting professionals, the effects of this stress are seen most clearly during tax season, and especially leading up to the filing deadline, when the workflow can ramp up to 80 work hours per week and preparers abandon their normally sane habits of diet, exercise, and sleep.  Further complicating the situation is that tax season comes at the same time as the transition from winter to spring, which means shifting from cold to warm weather and adjusting to Daylight Savings Time. [Read more…]