The Drake Software Blog
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What is the taxable income QBI threshold for 2020?
There are two income thresholds for claiming QBI in tax year 2020: $163,300 for single taxpayers, heads of household, qualifying…
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2021 Standard Mileage Rates Now Available
Taxpayers who expect to do some business-related driving next year will probably be happy to learn that the optional standard…
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Guidance Released for Some Debt Instruments Issued for Property
The Internal Revenue Service has issued Revenue Ruling 2021-01, which lays out the prescribed rates for various income tax purposes.…
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New IRS Guidance Eases Burdens on Certain Safe Harbor Plans
The Internal Revenue Service has issued Notice 2020-86, addressing certain parts of the SECURE Act that affect safe harbor plans—including…
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What’s New, What to Consider When Filing in 2021
The tax-filing season will be upon us before we know it, so the Internal Revenue Service is urging taxpayers to…
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