Drake Tax from Drake Software is well-suited for small to mid-sized accounting firms that process both individual and business taxes for clients. As a consistent winner of CPA Practice Advisor’s Reader’s Choice Awards annually since 2004, Drake ...
Stock prices for virtually every major ecommerce company took a nosedive on June 21, immediately following a landmark Supreme Court ruling on internet sales taxes. They’ve since bounced back, but the pain this decision will inflict on internet ...
The Department of the Treasury and the IRS have issued proposed regulations providing rules on the availability of charitable contribution deductions when the taxpayer receives or expects to receive a corresponding state or local tax credit.
Contrary to the stereotype of taxpayers dreading April 15 each year, many Americans often look forward to tax day, with the expectation of a large tax refund. Traditional wage earners sometimes view it as an annual bonus, and plan their vacations ...
Certain U.S. citizens or resident aliens, specifically contractors or employees of contractors supporting the U.S. Armed Forces in designated combat zones, may now qualify for the foreign earned income exclusion. The Bipartisan Budget Act of 2018, enacted in February, changed the tax home requirement for eligible taxpayers, enabling them to claim the foreign earned income […]
There always seems to be an amnesty program going on somewhere. We recently reported on an amnesty program in Texas and other states are jumping on the bandwagon as well. The recent Wayfair Supreme Court decision has shed light on the requirements to ...
Intuit is the company behind TurboTax, the dominant brand in the consumer income tax market, as well as QuickBooks, Quicken, Mint and professional tax and accounting software brands.
Unlike certain penalties, such as the Failure to File or Failure to Pay penalties, which can be abated due to reasonable cause, interest cannot be reduced or abated for reasonable cause. The abatement of interest is never permitted merely due to ...