Drake Documents | Drake Software – Professional Tax Software (2024)

FAQs

Do I need an EFIN to use Drake tax software? ›

To e-file through Drake Tax you must have a regular EFIN, not an online filer EFIN. Online filer EFINs begin with 10, 21, 32, 44 or 53 and cannot be used when e-filing from Drake Tax.

What is Drake Documents? Summary of Drake Documents Functions: Use Drake Documents to store and organize electronic documents such as PDF copies of tax returns, scanned Forms 8879 and 1099-B, and scanned copies of driver's licenses, Social Security cards, and other forms of ID.

On networks not using a true server (networks where one computer is designated a “server” and the other computers share files through that computer), returns can be redeemed on any of the computers in the network. Do not, however, transmit from more than one computer.

Ultimately, individual taxpayers who file their returns electronically can do so without an EFIN. In addition, there is no limit to the number of electronic tax returns an individual taxpayer can file without an EFIN.

Electronic Filing Identification Numbers are issued to individuals or firms. Most preparers need both.

TurboTax Deluxe is our top pick for easy-to-use online tax software. Its simple interface lets you easily navigate your tax return as you enter all the necessary information. We loved how easily you can import your tax documents directly into the platform.

Who is the founder of Drake Software? Phil Drake is the founder of Drake Software.

When tax preparation software isn't worth it. If you itemize your deductions, have lots of investments or earn non-W2 income, tax software may not be the best option, as it could mean missing valuable write-offs or reporting your income incorrectly.

You can import a PDF copy or scanned image from another application or program located elsewhere in your computer or network into the client's folder. To import a file into the Working Cabinet: Select the folder where the document is stored. From the toolbar, click Import to open the "Import File" dialog box.

The site and client files are protected by tough, industry-standard security measures. All transmissions are secured with 256-bit SSL encryption, and files are encrypted at rest on the server.

How do I import data into Drake software? ›

To run the organizer(s), go to Last Year Data > Organizers and proceed as you ordinarily would, until you click Process 1040. After you click Process 1040, the Print Organizers/Proformas screen appears. Select Upload document(s) to Drake Portals^TM and notify client(s) via email.

You can import tax information from QuickBooks into Drake Tax by first exporting the file from QuickBooks, and then importing the file into Drake Tax. We recommend that you always make a backup of your Drake files and the QuickBooks files prior to continuing with this process.

All tax preparation business must be equipped with an EFIN since the IRS requires any businesses that files more than 10 tax returns to use their eFile Services. Even before you could purchase any tax preparation software, an EFIN is a requirement.

What is an Electronic Filing Identification Number (EFIN)? Providers need an EFIN to electronically file tax returns. We assign an EFIN to identify firms that have completed the IRS e-file Application to become an Authorized IRS e-file Provider.

An EFIN is required in order for you to e-file your corporation's return with the IRS. This table will contain your 5- digit ETIN for the Form you will be filing. The ETIN is required if you plan to transmit your own return to the IRS. If you are using a third-party transmitter, then you will not be using your ETIN.

Electronic Filing Identification Number (EFIN): A six-digit ID number assigned by the IRS for e- filing. Electronic Return Originator (ERO): An authorized IRS e-file provider that originates the electronic submission of returns to the IRS.