News

March 10, 2008 - IR-2008-037: Special Economic Stimulus Payment Packages Go to Social Security, Veterans Recipients

February 15, 2008 - IR-2008-21: More Information on Stimulus Payments Posted to IRS.gov;
New Details for Recipients of Social Security, Veterans Benefits

December 11, 2007 - New Annual Electronic Filing Requirement for Small Tax-Exempt Organizations e-Postcard (Form 990-N)

November 14, 2007 - IRS Has $110 Million in Refund Checks Looking for a Home

November 7, 2007 - Another Record-Breaking Number of Taxpayers Choose to Electronically File in 2007

November 6, 2007 - IRS and States to Share Employment Tax Examination Results

October 29, 2007 - IRS Grants Tax Relief for Southern California Wildfire Victims

October 18, 2007 - IRS Announces Pension Plan Limitations for 2008

October 18, 2007 - Inflation Adjustments Widen Tax Brackets

October 5, 2007 - Tax-filing Extension Expires October 15

October 4, 2007 - Jump In E-Filed Corporate Tax Returns Produces Record

October 1, 2007 - IRS Issues Redesigned Allowable Living Expense Standards

October 1, 2007 - Breaking News! California E-file Update

October 1, 2007 - 1040.com to Receive Face-Lift

September 25, 2007 - New Online Employer Identification Number Application Processes Requests in Minutes

September 24, 2007 - Treasury Chooses AT&T for TNet under Networx Universal

September 17, 2007 - Special Web Section Unveiled for Homeowners Who Lose Homes; Foreclosure Tax Relief Available to Many

September 11, 2007 - Back-to-School Tax Breaks Help Teachers Pay Classroom Costs; Aid Parents, Students With College Tuition

September 10, 2007 - Treasury, IRS Extend Documentation Deadline for 409A Compliance

September 6, 2007 - GM’s 2008 Chevrolet and Saturn Certified As Qualified Hybrid Vehicles

September 5, 2007 - Increase in Federal Minimum Wage Will Not Reduce 45B Credit

September 4, 2007 - No Change in the Interest Rates for the Fourth Quarter, 2007

August 31, 2007 - IRS Issues Summer 2007 Statistics of Income Bulletin

August 30, 2007 - IRS Announces Closing Agreement Program for Forward-Float Agreements Used with Municipal Bonds

August 28, 2007 - Honda Hybrids Still Qualify for Tax Credit

August 28, 2007 - GM Hybrids Still Qualify for Tax Credit

August 28, 2007 - IRS Picks New Members of Leadership Team; Byrd, Gonzalez, Ng, Watson Take New Roles

August 28, 2007 - IRS Warns of New E-mail Scam Offering Cash for Participation in “Member Satisfaction Survey”

August 23, 2007 - Nissan Hybrid Still Qualifies for Tax Credit

August 23, 2007 - Corporate Use of e-File Up as Deadline Approaches

August 22, 2007 - Stephen Larson Named Acting Associate Chief Counsel, Financial Institutions and Products

August 21, 2007 - Phone Customers Can Still Request Excise Tax Refund, IRS Says

August 14, 2007 - Treasury, IRS Issue Guidance on Transactions of Interest

August 6, 2007 - IRS Seeks New Issues for Industry Issue Resolution Program

August 6, 2007 - Purchasers of Ford Hybrids Still Qualify for Tax Credit

August 6, 2007 - Phase-Out Credit for Toyota and Lexus Hybrids Continues With Reporting of Second Quarter Sales

August 2, 2007 - IRS Seeks Comments on Updates to Corporate and Partnership Tax Forms
The Internal Revenue Service has released for comment and discussion draft revisions to Form 1065, U.S. Return of Partnership Income, and Form 1120, U.S. Corporation Income Tax Return. The IRS plans to have the forms and related schedules ready for use for taxable years ending on or after Dec. 31, 2008. Comments are due from the public by Sept. 14, 2007.

August 2, 2007 - Treasury, IRS Release Report on Improving Voluntary Compliance
The Treasury Department and the Internal Revenue Service released a new report, Reducing the Federal Tax Gap: A Report on Improving Voluntary Compliance, detailing steps and strategies to reduce the "tax gap".

August 1, 2007 - George Blaine Named Associate Chief Counsel, Income Tax & Accounting
George Blaine has been appointed as Associate Chief Counsel, Income Tax and Accounting (ITA) effective August 3, 2007.

August 1, 2007 - Summertime Tax Tips Available on IRS.gov and via E-Mail
Sign up now for Summertime Tax Tips from the Internal Revenue Service. Three tax tips per week are being published, on a wide variety of subjects. Don't wait until January to start thinking about your taxes and tax planning!

July 31, 2007 - Victims of 2005 Hurricanes Get Additional Year to Sell Vacant Land
Victims of Hurricanes Katrina, Rita and Wilma have an additional year to sell vacant land they had owned and was part of their principal residence, that had been destroyed by the hurricanes. Visit IRS.gov for more specific information.

July 30, 2007 - Rental Property and the Tax Gap
The IRS' Fact Sheet FS-2007-21 dated July 2007 addresses the under-reporting or non-reporting of rental income, and what constitutes deductible expenses for landlords. This is the 14th Fact Sheet in a series dedicated to reducing the Tax Gap, the difference between the amount of taxes that should be paid in a given year and the amount paid voluntarily and in a timely fashion.

July 30, 2007 - New Rule for Registration of Web Sites with the IRS
The IRS has established new e-file rules to enable it to more quickly identify fraud schemes including phishing. These new IRS e-file rules apply to all Authorized IRS e-file Providers, including Online Providers, Intermediate Service Providers, and Electronic Return Originators (EROs) that obtain taxpayer information via the Internet directly or through third parties in order to e-file federal returns.

July 25, 2007 - Preparing for Year-End and 2008
Ready yourself and your payroll team for year-end and the new year - attend the American Payroll Association seminar, "Preparing for Year-End and 2008". These seminars update you on the latest changes in legislation and regulations affecting the close of 2007 and the beginning of the new year. October and November classes will be taught at locations around the country and also be offered through Internet Webcasts. They include presentations by IRS and SSA.

July 25, 2007 - Hydrogen-Powered Honda Vehicle Qualifies For Tax Credit
The IRS acknowledged the certification by American Honda Motor Company, Inc, that one of its vehicles meets the requirements of the Alternative Motor Vehicle Credit as a qualified fuel cell vehicle. Purchasers of the 2005 and 2006 Honda FCX, which is only capable of operating on hydrogen, may rely on their certification concerning the vehicle’s qualification for the Qualified Fuel Cell Motor Vehicle Credit.

July 6, 2007 - Mazda Vehicles Certified As Qualified Hybrid Vehicles
The IRS has acknowledged the certification by Mazda Motor of America, Inc., that several of its Model Year 2008 vehicles meet the requirements of the Alternative Motor Vehicle Credit as qualified hybrid motor vehicles.

Drake Software Wins Award from National CPA Publication Franklin, NC (December 21, 2006) – The CPA Technology Advisor announced today that Drake Software is a winner in their 2006 Reader’s Choice Awards. Drake was named the favorite software vendor in the Federal/State Income Tax Compliance Programs category. The results of the awards will be presented in the January 2007 issues of The CPA Technology Advisor, The NSA Technology Advisor, and The CSEA Technology Advisor. The voting results are also be available online at www.cpatechnologyadvisor.com. The CPA Technology Advisor is delivered to over 50,000 practicing public accountants and is focused on helping CPAs and other financial professionals evaluate and implement technology solutions in their practices.

The 2006 NATP Sorting Out Software Survey shows what Drake customers have known for almost 30 years: Drake is an industry leader in customer support and overall value. Drake scored above overall satisfaction rankings in all four categories – tax software program, customer support, network, and the conversion package. Learn more