The Buzz

New Online Resource Center Launched

New Online IRS Resource Center Launched for Sharing Economy Taxpayers

The Internal Revenue Service unveiled a new web page on to help taxpayers engaged in the sharing economy locate resources that will help them meet their tax obligations. The sharing economy (also called the...


For the past 6 years Drake Software has consistently been rated #1 by members of the NATP for their Sorting out Software Survey. Drake ranked first in areas such as Overall Satisfaction, Customer Service, Conversion, Price, and Ease of Installation.

Low Income Taxpayer Clinic Grants

The Internal Revenue Service has announced the opening of the 2014 Low Income Taxpayer Clinic (LITC) grant application process...

IRS Sending Incorrect Letters to Taxpayers Filing Form 3520

Do you have clients who filed Form 3520 in 2010 or earlier? If so, pay attention ...

New IRS Notices and Forms

A new revision of the Form 656-B booklet, with forms and instructions for submitting an Offer in Compromise (OIC), will be available on in January. The use of earlier versions after Jan. 1...

MyAccountCard program from the U.S.Treasury Department Suspended

The $1.4 million program was set up to distribute 2010 tax refunds on reloadable prepaid debit cards. The Treasury Department selected 808,000 low to moderate-income tax filers to participate and receive their tax refunds electronically rather than by paper checks. It costs...

Relief for Recipients of Inaccurate Forms 1095-A

The Centers for Medicare & Medicaid Services (CMS) recently published a blog discussing reissued Forms 1095-A by the Treasury. In February, Forms 1095-A containing inaccurate information were sent to a small percentage of taxpayers (less...

Happy End of Tax Season! Who’s Going to Disney World?

I know you all are thinking …”Hmmm what can I do to celebrate this wonderful occasion?” We all deserve a little something for surviving another tax season, right?

Recharge your business in 2013

With the new year in full swing, most business owners are focused and ready to set the foundation for a successful year. Here are six ways you can recharge your business in 2013...
Hardship Distributions for Louisiana

IRS Approves Hardship Distributions for Louisiana Flood Victims

The Internal Revenue Service has approved additional tax relief measures for Louisiana residents hard-hit by recent flooding. The IRS previously pushed back tax deadlines for taxpayers in the parishes named in the federal disaster...


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

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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