Drake Software

Long-haul truckers now have an extra chore on their August to-do list, right up there with an oil change and a truck wash. It’s time to file Form 2290, Heavy Highway Vehicle Use Tax Return for Tax Year 2021. Form 2290 is required of those who have registered—or who are required to register—large trucks, buses…

With summer comes the prospect of a summer job for college students. Many times, their top priorities are twofold: Get some valuable work experience that can help them snag a choice position once they’ve graduated Make some spending money while they’re at it It’s during this time these working students get to know one of…

The Internal Revenue Service has long allowed educators to deduct part of the cost of supplies and other expenses from their taxes. The total deduction allowed may not sound like much, but educators all over the U.S. have come to depend on this tax break for a little relief. The deduction is available for teachers,…

The Internal Revenue Service is continuing to move individual income tax features into the digital age. The agency’s latest move gives taxpayers digital control over who can represent them or view their tax records. The new feature is one of the recent upgrades to the Online Account for individuals. It allows taxpayers to designate their tax…

We’ve all been there before: We got a new job, and on the first day, our new boss puts a Form W-4 on our desk and tells us to fill it out for withholding. It takes a bit of math and what feels like a good helping of guesswork to figure out just how much…

It’s said that the early bird gets the worm. Some early-bird taxpayers could see a real benefit from their promptness to file their taxes, and it’s worth more than mere worms. The legislative package known as the American Rescue Plan of 2021 was passed into law in March of this year. Normally, unemployment benefits are…

Uncle Sam is reminding its citizens who live and work outside its borders that their tax deadline is rapidly approaching. While the bulk of taxpayers had to get their tax returns filed by May 17 this year, U.S. citizens and resident aliens who live abroad—as well as those with dual citizenship—have to file by June…

Now that the income tax filing deadline has passed, it’s a good time to take a hard look at whether we have the right amount of taxes withheld from our paychecks. After all, getting hit with a big tax bill after filing can often mean that the employee isn’t withholding enough of their paycheck to…

With restaurants beginning to open more fully due to a break in the coronavirus pandemic, employees in the food and beverage industry are soon likely to have a lot more to report on their taxes: Tips. That’s why the Internal Revenue Service is reminding taxpayers that that tips should be included in gross income when…

It was a wise man indeed who first warned us to “hope for the best, but prepare for the worst.” The Internal Revenue Service is following in those footsteps by reminding taxpayers that spring begins a very active period for weather in the U.S. In light of that, May includes both National Hurricane Preparedness Week…