Drake Software has selected Taxwell as the name of the parent company, now that it is offering two separate product lines. The change has come about now that the company markets tax preparation software under the Drake and TaxAct names.

The National Association of State Boards of Accountancy has recommended CPA exam candidates have up to 30 months to complete the test. The proposal would extend the time from 18 months to pass the remaining three exam section after a candidate's passing the first one.

The American Institute of CPAs has requested additional guidance to help taxpayers in calculating losses on digital assets.