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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

NTA Blog: The Flood That Didn’t Materialize When the IRS Removed the Two-Year Period for Requesting Equitable Innocent Spouse Relief and Granted Relief More Frequently

Wed, May 23, 2018

Subscribe to the NTA’s Blog and receive updates on the latest blog posts from National Taxpayer Advocate Nina E. Olson. Additional blogs from the National Taxpayer Advocate can be found at www.taxpayeradvocate.irs.gov/blog. Innocent spouse relief, which has been available under IRC § 6015 since 1998 (and was available prior to that, in a more limited way, under IRC § 6015(e)),...

Success Story: TAS Advocates for Taxpayer Facing Economic Burden

Mon, May 21, 2018

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. A taxpayer under audit requested TAS assistance because his tax refund was being held and he needed the money to make an urgent auto rep...

Practitioner’s ideas wanted in the 2018 Tax Forum focus groups

Fri, May 18, 2018

Each year the IRS sponsors the Nationwide Tax Forums, a three-day series of tax education and networking conferences for tax professionals in cities around the country. These events feature the latest information from the IRS, news about tax law changes, the chance to meet with software vendors and the opportunity to attend nearly 50 seminars presented by IRS employees and members of profession...

IRS Accepting Applications for 2019 Low Income (LITC) Taxpayer Clinic grants

Thu, May 17, 2018

The IRS has announced the application period for Low Income Taxpayer Clinic (LITC) grants for calendar year 2019 is now open and will run through June 27, 2018. A listing of the 2018 LITC grant recipients is available on IRS.gov. The mission of LITCs is to ensure the fairness and integrity of the tax system for taxpayers who are low income or speak English as a second language: By providing p...

Tax Scholars and Officials Gather for the 3rd International Conference on Taxpayer Rights in The Netherlands

Thu, May 17, 2018

  National Taxpayer Advocate Nina E. Olson convened the 3rd International Conference on Taxpayer Rights in Amsterdam, the Netherlands on May 3 and 4. Hosted by the International Bureau on Fiscal Documentation (IBFD), the conference connected government officials, scholars, and practitioners from around the world to explore how taxpayer rights globally serve as the foundation for effective...

NTA Blog: A Problem of the IRS’s Own Making - Automatic Revocations of 1023-EZ Exempt Organizations

Wed, May 16, 2018

Subscribe to the NTA’s Blog and receive updates on the latest blog posts from National Taxpayer Advocate Nina E. Olson. Additional blogs from the National Taxpayer Advocate can be found at www.taxpayeradvocate.irs.gov/blog. The IRS introduced Form 1023-EZ, Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, in July 2014. IRS record...

NTA Blog: Taxpayer Advocate Service Survey Confirms Need to Maintain and Enhance a Robust Omni-Channel Taxpayer Service Strategy

Wed, May 09, 2018

Subscribe to the NTA’s Blog and receive updates on the latest blog posts from National Taxpayer Advocate Nina E. Olson. Additional blogs from the National Taxpayer Advocate can be found at www.taxpayeradvocate.irs.gov/blog. In my most recent Annual Report to Congress, I published a study in support of the Service Priorities Project (SPP), a joint effort between Taxpayer Advocate Service...

Success Story: TAS Advocates for Small Business to Receive a Return of Levy Proceeds

Tue, May 01, 2018

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. A Power of Attorney contacted TAS for assistance with a small business taxpayer who was unable to pay his employees due to an IRS levy. ...

NTA Blog: Effective Use of the Offer in Compromise Program Will Save Valuable IRS Resources

Wed, Apr 25, 2018

Subscribe to the NTA’s Blog and receive updates on the latest blog posts from National Taxpayer Advocate Nina E. Olson. Additional blogs from the National Taxpayer Advocate can be found at www.taxpayeradvocate.irs.gov/blog. Effective Use of the Offer in Compromise (OIC) Program Will Save Valuable IRS Resources While Bringing Finality to Taxpayers When a taxpayer can’t afford to p...

2018 Tax Forums will feature TAS seminars, Case Resolution Program

Fri, Apr 20, 2018

Each year the IRS sponsors the Nationwide Tax Forums, a three-day series of tax education and networking conferences for tax professionals in cities around the country. These events feature the latest information from the IRS, news about tax law changes, the chance to meet with software vendors, and the opportunity to attend nearly 50 seminars presented by IRS employees and members of professio...

American Institute of Certified Public Accountants Tax News

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Reuters

South Korea says North Korea committed to 'complete' denuclearisation, summit with Trump

Sat, May 26, 2018

SEOUL (Reuters) - North Korean leader Kim Jong Un reaffirmed his commitment to "complete" denuclearisation of the Korean peninsula and to a planned meeting with U.S. President Donald Trump, South Korean President Moon Jae-in said on Sunday. ...

Ireland ends abortion ban as 'quiet revolution' transforms country

Sat, May 26, 2018

DUBLIN (Reuters) - Ireland's prime minister on Saturday hailed the culmination of "a quiet revolution" in what was once one of Europe's most socially conservative countries after a landslide referendum vote to liberalize highly restrictive laws on abortion. ...

Storm Alberto: Florida, Alabama, Mississippi declare states of emergency

Sat, May 26, 2018

(Reuters) - Florida, Alabama and Mississippi declared states of emergency on Saturday as Subtropical Storm Alberto drove north toward the U.S. Gulf Coast, threatening to bring heavy rainfall and flooding to the coastal states by Monday. ...

Suspect wounds teacher, fellow student in 23rd school shooting in 2018

Sat, May 26, 2018

(Reuters) - Indiana authorities on Saturday were yet to charge and identify the student who they say was responsible for wounding a teacher and student at a middle school in what media is reporting as the 23rd shooting on a United States campus in 2018. ...

U.S. missionary home after two years behind bars in Venezuela

Sat, May 26, 2018

WASHINGTON/CARACAS (Reuters) - American missionary Josh Holt, held by Venezuela without trial on weapons charges since 2016, returned home with his wife on Saturday after the South American country's socialist government unexpectedly released them. ...

New lava flow advances toward Hawaii geothermal plant

Sat, May 26, 2018

HONOLULU (Reuters) - A broad lava flow cascaded toward a Hawaii geothermal power station on Saturday, posing a new hazard as molten rock from the erupting Kilauea volcano bulldozed relentlessly through homes and backyards. ...

Oil output could return to October 2016 level, says Russia's Novak

Sat, May 26, 2018

MOSCOW (Reuters) - A return to the oil production levels that were in place in October 2016, baseline for the current deal to cut output, is one of the options for easing curbs, Russia's energy minister said on Saturday. ...

Alan Bean, moon-walking U.S. astronaut turned painter, dies in Houston

Sat, May 26, 2018

(Reuters) - American astronaut Alan Bean, who walked on the moon in 1969 during the Apollo 12 mission and commanded a crew on the Skylab space station in 1973 before giving up his career to become a full-time painter, died in Houston on Saturday, officials said. ...

U.S. warns Syria of 'firm' measures for ceasefire violations

Sat, May 26, 2018

WASHINGTON (Reuters) - The United States warned Syria on Friday it would take "firm and appropriate measures" in response to ceasefire violations, saying it was concerned about reports of an impending military operation in a de-escalation zone in the country's southwest. ...

Trump metals tariffs make Granite City great again, but at what cost?

Sat, May 26, 2018

GRANITE CITY, Ill. (Reuters) - After Donald Trump was elected president in 2016 on a pledge to "Make America Great Again" and revive the country's old industrial heartland, Dave Chrusciel hoped someday to return to his previous job at the steel mill here in this southern corner of Illinois. ...

CNN Money News

The curious case of the White House official Trump says 'doesn't exist'

Sat, May 26, 2018

On Thursday the Trump administration held a "background briefing" where a "senior White House official" provided information to reporters from The New York Times, CNN and lots of other news outlets....

Gas prices soar on Memorial Day weekend. These places are hit hardest.

Sat, May 26, 2018

Read full story for latest details....

So you want to be a sports agent? Here's what you should know

Sat, May 26, 2018

Being a sports agent can mean working with famous clients and getting front-row access to some of the biggest sporting events....

How to make sure your Amazon Echo doesn't send secret recordings

Sat, May 26, 2018

It was Alexa's equivalent of a pocket dial....

Visa suspends Morgan Freeman campaign after accusations of inappropriate behavior

Fri, May 25, 2018

Visa is suspending its marketing campaign with Morgan Freeman following a CNN investigation that uncovered a pattern of alleged harassment and inappropriate behavior by the actor....

SoulCycle gives up on an IPO — for now

Fri, May 25, 2018

Read full story for latest details....

Can diversity training really solve the problem?

Fri, May 25, 2018

On Tuesday, Starbucks stores will close for an afternoon....

News organizations pull some Facebook ads after new labeling policies

Fri, May 25, 2018

The Financial Times and New York Media, owner of New York magazine, have pulled certain ads from Facebook after the social media giant rolled out new policies for labeling ads about issues deemed political....

Weinstein Co. assets face unclear future under Lantern Capital

Fri, May 25, 2018

Read full story for latest details....

Is 'Solo' suffering from 'Star Wars' fatigue?

Sat, May 26, 2018

Every new "Star Wars" film brings an excitement that can be felt throughout the galaxy. Yet, this weekend's "Solo: A Star Wars Story" seems to be missing some of the usual galactic hype....