Update

  • It’s Back-to-School Season: Help Clients with Tax Tips and Education Credits

    Two of the most widely used credits — the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC) — may offer significant opportunities to reduce a client’s federal income tax liability. This article provides an overview of these credits, including qualified expenses, income limits, institutional reporting requirements, and common filing issues — so…

  • Beware of Unauthorized Drake Software Offers: How to Stay Protected

    Recently, one of our valued customers reported receiving a suspicious call from an unfamiliar number offering a “discounted” version of Drake Software. We want to make it absolutely clear: this offer was not legitimate. Here is how to stay informed and protected: Avoid Third-Party Software Offers If you receive unsolicited emails, calls, or messages offering…

  • Drake Software Shines in 2025 NATP Software Survey

    Each year, the National Association of Tax Professionals (NATP) surveys its members to evaluate the industry’s leading tax software providers. The 2025 NATP™ Software Survey results are in — and once again, Drake Software has earned standout marks across a wide range of categories, reinforcing its reputation as a trusted choice among professional tax preparers.…

  • Drake Hub is Here

    Here’s what you need to know about this update and how it benefits your workflow.  What is Drake Hub? When logging in, you’ll now land on the Home tab of Drake Hub — your new control center for navigating the tools and tasks you use every day. This page provides a snapshot of your recent client…

  • The Smart Tax Pro’s Guide to Building and Marketing a Thriving Practice

    Get your copy of The Smart Tax Pro’s Guide to Building and Marketing a Thriving Practice Are you a tax professional looking to grow your client base, retain loyal customers, and make your firm stand out—without sacrificing time with your clients? We’ve got the perfect resource for you. Introducing The Smart Tax Pro’s Guide to…

  • 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…

  • EIC Eligibility Updates: What Do Tax Professionals Need to Know

    As tax professionals prepare for the 2025 filing season, staying up to date on changes to the Earned Income Credit (EIC) is essential—not just for compliance, but for maximizing client refunds and minimizing audit risk. The IRS has issued several adjustments for tax year 2024 (filed in 2025), affecting income thresholds, credit amounts, and due…

  • Secure Act 2.0 Retirement, Tax Reform, and OB3

    Secure Act 2.0 Retirement, Tax Reform, and OB3 For tax professionals, these provisions are more than legislative footnotes—they directly impact how you advise clients, calculate retirement-related taxes, and practice compliance with IRS requirements. Let’s break down these landmark updates and how The One Big Beautiful Act may or may not impact these provisions: Required Minimum…

  • 5 FAQs on Cryptocurrency Taxes in 2025

    Cryptocurrency continues to raise questions for tax preparation clients, and 2025 brings even more complexity with new IRS guidance and reporting forms. In fact, about one-third of tax professionals report ongoing client confusion about crypto, according to Drake Software’s 2025 IRS Trends report.   To help ease concerns and increase accuracy in your professional tax…

  • The One Big Beautiful Bill Act: What Tax Pros Need to Know with Video

    The One Big Beautiful Bill Act (OBBBA) introduces sweeping updates to the tax code set to take effect for the 2025 tax year. These changes are crucial for tax professionals who must adapt planning strategies, educate clients, and ensure their software is fully compliant Watch our latest video highlight: Drake Software’s Government Relations Manager, Taylor Rodier,…