Drake Tax
Trusted tax software for professionals offering efficient IRS-compliant solutions.
Executive Summary
Drake Tax is a comprehensive tax software designed for professional tax preparers, CPA firms, and bookkeeping companies. It streamlines the preparation and e-filing of individual and business tax returns through features like fast data entry, extensive error checking, and integration with other Drake products. Known for its accuracy, reliability, and award-winning customer support, it enables firms to efficiently manage high volumes of returns and optimize their workflows.
Use Cases
- Efficiently prepare and e-file individual (1040) tax returns for a diverse client base.
- Prepare and e-file various business tax returns, including 1120, 1120-S, 1065, 1041, and 990 forms.
- Manage multiple client accounts and streamline tax season workflows for increased productivity.
- Securely exchange documents, collect e-signatures, and communicate with clients using integrated portals.
- Conduct comprehensive tax planning and scenario analysis to optimize client tax outcomes.
- Monitor and track the status of e-filed returns and acknowledgments to ensure compliance and timely processing.
Features
Visibility
- Workflow Automation & Tracking: Automated return tracking across the Drake ecosystem with status updates, workflow visibility, and built-in urgency alerts.
- Multi-Client Management: Allows for the simultaneous handling of multiple client accounts, streamlining the workflow for tax professionals managing diverse portfolios.
- Detailed Calculation Results: Provides an immediate view of return information, including error messages, fees, and e-file eligibility, at a glance.
- Organized Return Viewing: Enables customization of print sets, printing to PDF, and adding notes for easy reference and communication.
- E-file Status Monitoring: Users can track the status of e-filed returns and acknowledgments, ensuring timely processing and notification to clients.
Intelligence
- Hundreds of Accuracy Checks: Runs hundreds of return diagnostics and validation rules to help ensure uncompromising accuracy in tax preparation.
- Drake Tax Planner: Utilizes intuitive planning tools to analyze various tax scenarios and compare filing options for optimal client results.
- Effortless Data Import: Facilitates the import of electronic Forms W-2, 4562, 8949, Schedules K-1, and other end-of-year balances to minimize manual data entry.
- LookBack and LinkBacks: Allows easy access to prior-year data and the ability to trace calculated results back to their original sources for verification.
- Integrated E-Signatures: Enables digital signing of documents by both preparers and clients, saving time and supporting a paperless workflow.
Support
- Award-Winning Customer Service: Provides expert, friendly, and responsive assistance, consistently recognized for high user satisfaction.
- Comprehensive Knowledge Base: A redesigned online knowledge base offers articles, videos, and help documentation, filterable by product and category.
- Online and In-person Training: Offers robust onboarding, webinars, and seminars for continuous learning and skills development for tax professionals.
- Extended Tax Season Support: Provides extended customer support hours during peak tax season to ensure timely assistance for preparers.
Technical Specifications
- Architecture
- Desktop application with cloud-based components for e-filing, updates, and an optional cloud-native version (Drake Tax Online).
- Deployment
- Hybrid (Desktop software with cloud services for e-filing and updates, alongside a fully Cloud/SaaS option for Drake Tax Online).
- Authentication
- Standard username/password, Multi-Factor Authentication (MFA).
- API Available
- Yes
- MCP Server
- No
AI/ML Stack
- Machine Learning
Integrations
- Drake Accounting
- Drake Documents
Security & Compliance
Encryption: AES-128 bit encryption for data at transit and at rest (specifically for Drake Tax Online).
Pricing
- Model
- Tiered subscription, Per user/month, Per return (flexible options for unlimited 1040s or pay-per-return).
- Starting Price
- Starting at $299 for the first user (Drake Tax Online), with additional users at $99. Contact sales for full pricing details.
- Target Customer
- SMB to Mid-Market (professional tax preparers, CPA firms, bookkeeping companies).
- Contract Type
- Annual (implied by tax season focus), with flexible purchase options for returns.
- Free Trial
- Yes, Custom demo (credit card required)
About Drake Tax
Drake Software provides comprehensive, professional tax preparation and e-file software solutions for tax preparers and accounting firms. Founded in 1977, the company offers a suite of tools including tax software, accounting solutions, and productivity tools.