In a significant move last week, the Treasury Department and IRS announced that digital assets received by businesses do not follow the same reporting requirements as cash assets in 2024, at least until the issuance of specific regulations. This announcement comes...
Drake Software® is excited to introduce Drake Pay™, a payment integration solution that works seamlessly with Drake’s suite of software products. This solution allows our customers to accept payments from their clients effortlessly and directly in their tax...
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 businesses...
![Name, Image, and Likeness (NIL) Income for College Athletes [DOWNLOAD]](https://millstaxservice.com/wp-content/uploads/2024/01/nil.png)
Name, Image, and Likeness (NIL) income, or income gained from personal brand influence, has opened opportunities for student-athletes in college athletics. With the additional income stream comes new tax implications, however, that many student-athletes have not...
The IRS has announced new penalty relief totaling around $1 billion to approximately 4.7 million individuals, businesses, and tax-exempt organizations. This relief is aimed at those who did not receive automated collection reminder notices during the pandemic, which...
