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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: Overall the Filing Season at Taxpayer Assistance Centers Ran Smoothly, But Room for Improvement Remains

Wed, Jul 11, 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 focused on Taxpayer Assistance Centers (TACs) as one of the Most Serious Problems facing taxpayers. My concerns about ...

NTA Blog: “Real” vs. “Unreal” Audits and Why This Distinction Matters

Fri, Jul 06, 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. Around five months ago, in my 2017 Annual Report to Congress, I identified IRS audit rates and the distinction between “real” and “unreal” au...

Success Story: TAS Advocates for Penalty Abatement

Thu, Jul 05, 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 came to TAS for assistance because the IRS assessed a penalty for not reporting income accurately. The taxpayer relied on a t...

NTA Blog: A Few Thoughts About The National Taxpayer Advocate’s Fiscal Year 2019 Objectives Report

Wed, Jun 27, 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 lieu of posting a blog this week I would ask that you check out my June Report to Congress instead. In my preface you will find some extraordinary information, st...

National Taxpayer Advocate releases Fiscal Year 2019 Objectives Report to Congress

Wed, Jun 27, 2018

The National Taxpayer Advocate released her Fiscal Year 2019 Objectives Report to Congress today. In it, she reviews the 2018 filing season, addresses challenges facing the IRS, and identifies TAS’s priority issues for fiscal year (FY) 2019. Taxpayer Service Challenges  In her preface to the report, the NTA focuses on the IRS’s customer service challenges. She states in the cu...

Tax Changes

Wed, Jun 27, 2018

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NTA Blog: Participants in the Sharing Economy Lack Adequate Guidance From the IRS

Wed, Jun 20, 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 included the IRS’s efforts to reach out to participants in the sharing economy (also know as the “gig econ...

NTA Blog: The IRS’s Continued Refusal to Exclude Already Open TAS Cases From the Passport Certification Program Violates Taxpayer Rights

Thu, Jun 14, 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 January, I wrote my third blog about the IRS’s new program to certify the seriously delinquent tax debts of taxpayers for the purposes of passport denial, l...

NTA Blog: One Year Later, The IRS Has Not Adjusted Its Private Debt Collection Initiative To Minimize Harm To Vulnerable Taxpayers

Wed, Jun 06, 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. Since the IRS implemented the private debt collection (PDC) initiative last year, I have been concerned that taxpayers whose debts are assigned to private collection...

IRS Announces Webinar on the 2019 Low Income Taxpayer Clinic (LITC) Grant Application Process

Thu, May 31, 2018

The IRS announced today that the Low Income Taxpayer Clinic Program Office will host two webinars on Tuesday, June 5, 2018, and Tuesday, June 12, 2018. The webinars are to provide potential applicants with information about the application requirements and process. The intended audience for this webinar include applicant’s proposing to open or expand the work of existing: Clinical progra...

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Watch Brown Bears in Sweden12/12/2012

Experience the forest at night and watch brown bears - join one of our short breaks...

Watch Brown Bears in Sweden12/12/2012

Experience the forest at night and watch brown bears - join one of our short breaks...

News

American Express lifts revenue forecast

The company reported strong results on higher card-member spending and loan growth....

Wells Fargo automated wealth management, pressed advisers to focus on sales: report

Wells Fargo has weathered numerous scandals in recent months related to its internal practices....

IBM rides new businesses to higher revenue, profit

Revenue rose 3.7% from a year earlier to $20 billion, the company's third consecutive quarter of revenue growth....

Google shares soar to record high, despite record high EU fine

Shares of the search engine giant are on pace for their longest winning streak in five years....

Gold's demise may be golden for US stocks

Gold is hammered and that may be a bullish signal for stocks....

Morgan Stanley beats estimates on higher trading revenue

On a per share basis, the bank earned $1.30, up from 87 cents per share a year ago....

US stocks trade in tight range following upbeat economic outlook

The Nasdaq ticked down slightly from its all-time high....

Stock futures rise following upbeat economic outlook

Fed remains on track for further rate increases....

Oil prices fall on rise in U.S. stocks, demand worries

Brent crude hit a three-month low....

United beats earnings expectations

The airline said its profit is rising despite surging jet fuel costs....