Tax News

The latest changes in the industry.

Last Days of Tax Season Busy Ones for IRS

Last Days of Tax Season Busy Ones for IRS

Preliminary numbers are in on income tax return filings for Tax Year 2016, and they add up to a busy season.
When the IRS Comes Knocking

When the IRS Comes Knocking

The Internal Revenue Service recently released information that could also help late filers: how to verify the person at the door is actually an IRS agent.
Not Everyone Has to File on Tax Day

Not Everyone Has to File on Tax Day

We’re just one day away from morning shows, 24-hour news outlets, and a torrent of social media posts talking about Tax Day, but there are still some who won’t have to file tomorrow.
148 Some 40 Million Yet to File This Tax Season

Some 40 Million Yet to File This Tax Season

With the April 18 income tax filing deadline just days away, millions of American taxpayers will soon have just two choices to avoid a penalty: File or get an extension.
Tax Professional Organizations Join Forces for IRS Improvements

Tax Professional Organizations Join Forces for IRS Improvements

A group of organizations that represent areas of the tax professional community have joined to let federal lawmakers know they’re not happy with the Internal Revenue Service's performance.
Thousands Affected by Federal Site Hack

Thousands Affected by Federal Site Hack

The Internal Revenue Service is mailing out written notices to thousands of taxpayers who may have had their identities compromised due to a recent hack of the student aid application process.
Are Bitcoin Users Cheating on Taxes

Are Bitcoin Users Cheating on Taxes?

The use of virtual currency such as Bitcoin has been growing for all sorts of online financial transactions. But the Internal Revenue Service says they’re finding that very few of those transactions are being reported for tax purposes.
Identity Theft Scam Aimed at W-2 Data

Identity Theft Scam Aimed at W-2 Data

With the deadline for submitting income tax returns in sight, identity thieves are increasing their efforts to steal valuable data than can help them file bogus tax returns.
New e-Services Scam Aimed at Preparers

New e-Services Scam Aimed at Preparers

Tax professionals are being warned to watch out for a new round of email scams that seek to steal their professional credentials and other critical information.
IRS Mishandled Security Breach Recovery, Audit Finds

TIGTA Report Examines IRS’s IP PIN Security Breach Recovery

An audit into how the Internal Revenue Service responded to a 2015 security breach has found the agency hasn’t taken sufficient steps to ensure that such a breach doesn’t happen again.

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New Scam Targets Tax Professionals

Security Summit Warns of New Email Scam
The Internal Revenue Service today announced a new email scam from cybercriminals that targets tax professionals. Using a two-stage process, this latest phishing scheme attempts to collect private data from tax preparers.

IRS Announces the First Day of Tax Season, Issues Refund Delay Reminder

IRS Announces the First Day of Tax Season, Issues Refund Delay Reminder
Tax professionals across the country are gearing up for tax season, which the Internal Revenue Service today announced will officially begin on January 23, 2017. The press release included yet another reminder about PATH Act-delayed refunds: taxpayers claiming the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) will not have their refund issued until February 15, 2017.

New Features in Drake Software

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Improve Your Efficiency in 2016 For the tax industry, the months leading into January build tension in increments, like a banjo string tightening from every turn of the tuning peg. The days are filled with preparatory tasks for tax professionals and software developers alike, a...

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