The Drake Software Blog
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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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Final Regulations Clarify Section 1031 Like-Kind Exchanges
The Internal Revenue Service and the Treasury Department have issued their final regulations on section 1031 like-kind exchanges. The regulations…
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IRS to Mask Key Details on Business Transcript
After Dec. 12, business tax transcripts will soon be a little less informative—for good reason. The IRS will start masking…
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More Time to Register to Get $500 EIP for Children
Some people managed to register for their $1,200 Economic Impact Payment (EIP) but just didn’t have the necessary information in-hand…
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New Guidance Clears Up Partnership Deduction for State, Local Taxes
A new notice from the Internal Revenue Service reveals some new rules that are expected to be included in upcoming…
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