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Daily News

Below please find daily updates pertaining to the latest in financial, business, and tax news:

Taxpayer Advocate Service Feed

TAS Pre-Filing Season Outreach

Mon, Dec 09, 2019

Ready to file your federal tax return? Stop by one of these events first and get tips to avoid delays! Want to avoid delays this filing season, including refund delays? Find out how by visiting us at one of the locations below during the week of January 13 – 17. If you prepare your own tax returns, whether it’s through software or on paper, come visit us before you file that fed...

NTA Blog: Highlights of the Taxpayer First Act and Its Impact on TAS and Taxpayer Rights

Thu, Nov 21, 2019

Subscribe to the NTA’s Blog and receive updates on the latest blog posts from Acting National Taxpayer Advocate Bridget T. Roberts. Additional blogs can be found at www.taxpayeradvocate.irs.gov/blog. On July 1, 2019, the Taxpayer First Act (TFA) was signed into law. The TFA makes the most significant changes to IRS administrative procedures since the IRS Restructuring and Reform Act of ...

Tax Pros: Don't risk your PTIN expiring by Dec. 31, 2019

Thu, Oct 31, 2019

If you prepare or help prepare federal tax returns for compensation, you must have a valid Preparer Tax Identification Number (PTIN) from the IRS. It only takes 15 minutes to renew your Preparer Tax Identification Number or PTIN. Find out how to renew in just a few easy steps. The IRS PTIN system also allows you to update your account information, view your continuing education credits, and mor...

NTA Blog: Volume 2 of NTA Objectives Report Features IRS Responses to Most Serious Problems

Thu, Sep 19, 2019

Subscribe to the NTA’s Blog and receive updates on the latest blog posts from Acting National Taxpayer Advocate Bridget T. Roberts. Additional blogs can be found at www.taxpayeradvocate.irs.gov/blog. Each December, the National Taxpayer Advocate identifies the Most Serious Problems facing taxpayers and makes recommendations for addressing them in the Annual Report to Congress (ARC). Eac...

Success Story: TAS's advocacy helps taxpayer get refund using wire deposit to a foreign bank account

Fri, Sep 06, 2019

Every year, the Taxpayer Advocate Service (TAS) helps thousands of people with tax problems. This story is only one of many examples of how TAS helps resolve taxpayer’s tax issues. All personal details are removed to protect the taxpayer’s privacy. The mission of TAS is to help taxpayers resolve problems with the IRS and recommend changes to prevent the problems. When constituents c...

Alert: Planning to travel outside of the U.S. this year? Don’t risk a passport revocation - arrange to settle large IRS debts now

Wed, Sep 04, 2019

The Internal Revenue Service is urging taxpayers to resolve their significant tax debts, $50,000 or more, to avoid putting their passports in jeopardy. If you owe $50,000 or more and haven’t made payment arrangements, please contact the IRS now to avoid travel delays later. Why is the State Department allowed to limit or revoke my passport due to unpaid taxes? In December 2015, Congress p...

NTA Blog: IRS Agrees to Temporary Exclusion from the Passport Certification Program for TAS Cases

Tue, Sep 03, 2019

Subscribe to the NTA’s Blog and receive updates on the latest blog posts from Acting National Taxpayer Advocate Bridget T. Roberts. Additional blogs can be found at www.taxpayeradvocate.irs.gov/blog. In my first blog as the Acting National Taxpayer Advocate, I’d like to address a topic that has been in the news a good deal over the past year—“passport certification.&rd...

TAS Tax Tip: It’s Time to Check Your Tax Withholding

Tue, Aug 20, 2019

The Internal Revenue Service recently launched the new Tax Withholding Estimator, an expanded, mobile-friendly online tool designed to make it easier to have the right amount of tax withheld during the year. The new Estimator features include: plain language to improve comprehension; ability to move back and forth through the steps and correct previous entries and skip questions that don&rsquo...

Success Story: Taxpayer Advocate Service's Advocacy Helps Taxpayer Keep Housing Subsidy

Thu, Aug 15, 2019

Every year, the Taxpayer Advocate Service (TAS) helps thousands of people with tax problems. This story is only one of many examples of how TAS helps resolve taxpayer’s tax issues. All personal details are removed to protect the taxpayer’s privacy. TAS received a congressional inquiry where a taxpayer, living in a rural area, was unable to secure a tax account transcript. Without th...

Tax Tips Page

Thu, Aug 08, 2019

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American Institute of Certified Public Accountants Tax News

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Reuters

Britain Brexit bound as Johnson heads for big parliamentary majority

Thu, Dec 12, 2019

Prime Minister Boris Johnson's Conservative Party will win a resounding victory in Britain's election with a parliamentary majority of 86 seats, an exit poll showed on Thursday, empowering him to deliver Brexit on Jan. 31. ...

EU welcomes clear UK Conservative victory as clarity over Brexit

Thu, Dec 12, 2019

European diplomats on Thursday welcomed the clarity an apparently decisive election victory for the Conservative Party gave to Britain's stalled withdrawal from the EU, but said it would be challenging to agree a trade deal by the end of 2020. ...

New Zealand recovers six bodies from volcanic island in high-risk mission

Thu, Dec 12, 2019

A New Zealand military team recovered six bodies on Friday from the volcanic island that fatally erupted earlier this week, in a high risk operation watched by dozens of grieving family members waiting on the mainland. ...

FBI investigating New Jersey kosher grocery rampage as domestic terrorism

Thu, Dec 12, 2019

A fatal gun rampage at a kosher grocery store in northern New Jersey this week is now being treated as an act of domestic terrorism and the FBI will oversee the investigation, federal and state law enforcement officials said on Thursday. ...

In Myanmar park, crowds gather to support Suu Kyi in Rohingya genocide hearings

Thu, Dec 12, 2019

Crowds have gathered for the past three evenings in a small park in downtown Myanmar's capital Yangon to hear accusations of genocide delivered thousands of miles away at the United Nation's top court in The Hague. ...

A U.S. 'deal in principle' with China on trade may be more limited than October pledge

Thu, Dec 12, 2019

The White House reached a "deal in principle" with Beijing on trade, sources briefed on the talks said on Thursday, but it may be narrower than the "Phase 1" deal U.S. President Donald Trump promised in October. ...

U.S., China agree to reduce tariffs, delay duties scheduled for Dec. 15: source

Thu, Dec 12, 2019

The United States has agreed to reduce some tariffs on Chinese goods and delay a tranche of tariffs that were slated to go into effect on Dec. 15 as part of a trade deal between the two economic giants, a U.S. source familiar with the situation said on Thursday. ...

UK's Farage: We will get Brexit, but maybe not the right Brexit

Thu, Dec 12, 2019

Brexit Party leader Nigel Farage said Britain would leave the European Union if Boris Johnson's Conservatives win the majority forecast in the exit poll, but it may not be the hard Brexit he had spent his political career campaigning for. ...

Refinitiv created filter to block Reuters stories amid Hong Kong protests

Thu, Dec 12, 2019

As anti-government demonstrations engulfed Hong Kong in August, Reuters broke a sensitive story: Beijing had rejected a secret proposal by city leader Carrie Lam to meet several of the protesters’ demands in a bid to defuse the unrest. ...

U.S. House committee nears vote on impeachment articles against Trump

Thu, Dec 12, 2019

U.S. lawmakers moved closer on Thursday to impeaching Republican President Donald Trump, as members of a House of Representatives committee debated formal charges that are likely to be sent to the full House for a final vote next week. ...

CNN Money News

Retirement contribution limits will rise in 2019

Thu, Nov 01, 2018

Good news retirement savers: The Internal Revenue Service announced cost of living increases to the contribution limits for retirement-related plans in 2019....