Drake Tax - New Tax Bill

The new tax bill was signed into law on July 4, 2025. The IRS has provided preliminary information about some of the provisions that will take effect in 2025. This article will be updated with more information about the impact on Drake Tax 2025 and Drake Accounting as details are finalized.

Drake Tax 2025

• Drake Tax Planner Updates for New Tax Bill

• "No Tax on Tips" - New Tax Bill

• "No Tax on Overtime" - New Tax Bill

• Drake Tax - Refund Disbursement: Paper Check

• Drake Tax - Form 4547 - Trump Account Election(s)

• Drake Tax - 8812: CTC, ACTC, and ODC

• Drake Tax - Schedule A - State and Local Income Tax Deduction Limitation (Wks SALT)

DAS 2025 and DAS 2026

• Drake Accounting - Qualified Overtime Compensation ("No Tax on Overtime" Provision)

• Drake Accounting - "No Tax on Tips"