Taxing Subjects

  • 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…

  • What are TaxPro Websites from SiteDart Hosting?

    SiteDart TaxPro Websites are more than an online business card. These template-driven, tax professional websites let you choose the features you need, so you can continue providing the convenient, quality service clients expect—even when you’re not in the office:  Accept secure online payments for tax preparation services Allow customers to schedule appointments that sync to your…

  • What are the signs of identity theft tax refund fraud?

    The IRS’ “Taxpayer Guide to Identity Theft” details seven signs that your information may have been stolen: You get a letter from the IRS inquiring about a suspicious tax return that you did not file. You can’t e-file your tax return because of a duplicate Social Security number. You get a tax transcript in the mail…

  • What do I need to work remotely?

    Working remotely requires a broadband Internet connection. Basic setups might only need tax preparation software, email, and a secure file-transfer platform. Complex arrangements use specialized software to remotely control another device and web-based applications for team collaboration. The size and type of your tax office will determine exactly what’s needed to serve your customers and…