Taxing Subjects

  • How the Reconciliation Process Impacts 2025 Tax Law

    As the 2025 tax season approaches, tax professionals should keep a close eye on Congress — especially when lawmakers pursue sweeping tax reform using a powerful legislative tool: the reconciliation process. Commonly used to sidestep Senate filibusters, this fast-track mechanism could be the engine behind significant updates to the tax code.   What Is the…

  • Drake Tax Spanish Software Resources for Tax Professionals

    Welcome to Drake Software’s Spanish Tax Resource Center Drake Software® proudly supports Spanish-speaking tax professionals with a comprehensive selection of Spanish-language tax software tools, training, webinars, and documentation. Whether you’re getting started with Drake Tax or looking to streamline your workflow with Drake Portals and e-signatures, our Spanish-language resources are here to help. Live Tax…

  • Jared Ballew Named a 2024 “20 Under 40” Influencer by CPA Practice Advisor

    We’re proud to share exciting news: Jared Ballew, Vice President of Government Relations at Drake Software, has been recognized as one of CPA Practice Advisor’s 2024 “20 Under 40” Influencers. Celebrating Young Professionals in Accounting This annual award celebrates young professionals who are making significant strides in shaping the future of the accounting profession. Jared’s…

  • Drake Tax Wins Best “Overall Rating” for the 13th Year in a Row

    The Journal of Accountancy and The Tax Adviser recently released results for the 2024 Tax Survey. Drake Tax led the way in 2023 and continues to show high marks in 2024. Drake Software is known for its industry-leading customer service and in the survey received the highest score for product support. And – aside from…

  • Earn CPE at Upcoming Drake Software Update Schools®—Registration Opens Soon

    Drake Software Update Schools will soon be back in session to prepare tax professionals for a new season with tax software updates and CPE credits.  Who’s attending?   Our team has worked tirelessly to develop new features, which we are excited to present to tax preparers along with tax software instruction, tips, and tax and industry…

  • Did COVID-19 Change My State Individual Income Tax Deadline?

    Last Updated: May 8, 2020, at 4:33 p.m. Important: The New Hampshire Interest & Dividend Tax is still due on April 15, 2020. Treasury Secretary Steven Mnuchin announced on Friday, March 20, 2020 that the federal filing deadline was being moved to July 15, 2020 due to the COVID-19 outbreak. Many state departments of revenue…

  • More IRS Forms Go Digital for Contact-Free Signature Options

    The Internal Revenue Service is bringing more tax forms into the 21st century while keeping tax professionals and taxpayers alike safer from possible coronavirus transmission. A new online option from the IRS helps tax pros remotely get signatures from individual and business clients on authorization forms and to submit those forms electronically. It’s available through…

  • 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 widows and widowers, or trusts and estates $326,600 for married couples filing jointly Return to Taxing Subjects frequently asked questions. Related FAQs: What is the Qualified Business Income Deduction? What types of business income qualify…

  • IRS Says It’s Time to Settle Syndicated Conservation Easement Cases

    The Internal Revenue Service says taxpayers with docketed abusive syndicated conservation easement transaction Tax Court cases should seriously consider settling. The warning comes less than a week after a U.S. Tax Court decision striking down four types of these transactions. Oh, and time is running out to accept the government’s settlement offer. What is an…

  • What is the taxable income QBI threshold for 2018?

    There are two income thresholds for claiming QBI in tax year 2018: $157,500 for single taxpayers, heads of household, qualifying widows and widowers, or trusts and estates $315,000 for married couples filing jointly Return to Taxing Subjects frequently asked questions. Related FAQs: What is the Qualified Business Income Deduction? What types of business income qualify…