As electric cars become more common on American roads, fully electric autos (termed “clean vehicles” by the Internal Revenue Service) are now showing up in the used car markets. Owners of new electric vehicles are already able to claim the Clean Vehicle Credit for...
Filing deadlines often change for taxpayers in regions that experience natural disasters. When these extreme weather events hit, the IRS frequently provides tax due date extensions. The relaxed due dates are intended to give more time to the individuals and business...
As of last week, the Internal Revenue Service (IRS) has taken decisive action to address concerns regarding the improper filing of Employee Retention Credit (ERC) claims, announcing a moratorium on new claims through at least the end of the year. This decision is...
The Internal Revenue Service says it’s about to move its main audit spotlight from the everyday working-class individual taxpayer to those engaged in high-income activities. Now on the audit radar: high-income earners, partnerships and large corporations, and...
By Matt Jagst, Drake Software Head of Product For many tax and accounting firms, methods of client interaction changed dramatically in the spring of 2020. Firms accustomed to having their clients visit the office to serve them face-to-face had to switch to a...
