Overview

Drake Tax releases two versions of the tax program, the first of which (the preseason release) is made available in December. This initial version is released so that beginning of season activities, such as installation, networking, setup, and scheduling, can occur. The second (final) release has historically been made available in the first week of January, and contains state programs and the most up-to-date federal calculations.

The second release must be installed in order for you to experience the full functionality of the program. You can install this over top of the initial release, without uninstalling the initial release. The initial installation must be closed before you can continue with the second installation. This allows you to maintain any setup that you did with the initial release.

First Release Recommendations

• Update settings from the prior year with the use of the Setup Assistant (if you used Drake Tax last year).

• Complete other setup items, including:

  • Letters

  • Pricing

  • Options

  • Signature Pads

  • Printers

  • Email

• Start Scheduling appointments with the Drake Scheduler.

• Generate and distribute Organizers by email or with Drake Portals.

• Review the what's new information.

• Wait to:

  • Update clients.

  • Prepare live returns (calculations are not final).

    Tip  While it is possible to bring clients forward one at a time during the pre-season release, we do not recommend pulling clients forward in December. The program is still being finalized and it may be more beneficial to wait until you install the January release to update your client's returns. Batch update is also available in the January release (see below for details).

    Practice or test returns are available if you want to test functionality.

Summary of Differences

The below chart identifies specific differences between the two releases:

Category	Preseason Release	January Release
General Purpose	Allows offices to install the program, network Drake Tax in the office, set up the Scheduler and begin scheduling appointments, tailor software settings to suit the office's needs, test e-file returns, and generate Organizers and Proformas in preparation for the upcoming season.	Contains finalized calculations (based upon finalized IRS publications and instructions) and the state programs.
e-Filing	Test returns only.	Allows test returns, federal returns, and returns for states (that are available for e-file) to be transmitted. Historically, the IRS began processing returns sometime after Drake Tax released the January version. In those cases, Drake Tax has typically held any returns transmitted by preparers and released them to the IRS and states as soon as those agencies were open for processing. (According to IRS Publication 1345, the agency "does not consider current filing year returns held prior to the date it accepts transmission of electronic returns stockpiled." For more information on what the IRS does consider stockpiling, see Publication 1345).
Updating Clients	Clients may be updated one at a time under Last Year Data > Update Clients 2022 to 2023. Batch updating is not available in December.	Clients may be updated in batches. Drake Software recommends updating clients one at a time.
Calculations	The calculations are not final. Many are still subject to change based on possible IRS changes or clarifications, or are pending approval with the IRS.	The most up-to-date calculations provided by the states and the IRS are integrated into all packages. As always, calculations are subject to change as a result of federal and state changes in tax law. Keep in mind that some states may still be in the process of finalizing their information -- any updates to state programs or releases of state forms will occur as soon as possible. All returns must be calculated again after the installation of the second release before e-filing, or following any updates to state or federal calculations.
States	Not yet available.	States can be installed during the installation of the second release or by going to Tools > Install State Programsafter installation.
Organizers and Proformas	Organizers and proformas are one of the main purposes of the initial release, and can be generated for clients in batches, or one at a time, under Last Year Data > Organizers or Proformas.	Will be available throughout the year.
K1 Export	Not available.	Available once all calculations have been finalized.
Required to be installed?	Not required to be installed, unless you plan to engage in preseason activities in December.	Must be installed in order to take advantage of all functionality, including installing states.

Frequently Asked Questions