The Drake Software Blog
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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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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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