Back to top

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...

Reuters News

S&P, Dow fall as oil drop hurts energy; chipmakers boost Nasdaq

Fri, May 25, 2018

NEW YORK (Reuters) - The S&P 500 and the Dow eased on Friday after a steep drop in oil prices pressured energy stocks, but losses were limited by gains in chipmakers and retail stocks. ...

T-Mobile says ex-Trump campaign manager advising on Sprint merger

Fri, May 25, 2018

WASHINGTON (Reuters) - T-Mobile US said it is getting advice on its proposed $26 billion merger with Sprint Corp from a lobbying firm whose staff includes several members of President Donald Trump's election team such as former campaign manager Corey Lewandowski. ...

U.S. reaches deal to keep China's ZTE in business: congressional aide

Fri, May 25, 2018

WASHINGTON (Reuters) - The Trump administration told lawmakers the U.S. government has reached a deal to put Chinese telecommunications company ZTE Corp back in business after it pays a significant fine and makes management changes, a senior congressional aide said on Friday. ...

Exclusive: Tesla flies in new battery production line for Gigafactory

Fri, May 25, 2018

FRANKFURT/SAN FRANCISCO (Reuters) - Tesla Inc has flown six planes full of robots and equipment from Europe to California in an unusual, high-stakes effort to speed up battery production for its Model 3 electric sedan, people familiar with the matter told Reuters this week. ...

U.S. jury fails to reach verdict in latest J&J talc trial

Fri, May 25, 2018

NEW YORK (Reuters) - A South Carolina jury on Friday could not agree on a verdict in a case of a woman whose family said her long-term use of Johnson & Johnson's Baby Powder led to her death from asbestos-related cancer, resulting in a mistrial. ...

Investors find little appetite for consumer staples

Fri, May 25, 2018

(Reuters) - The consumer staples index , the S&P 500's biggest laggard for 2018, could have further to fall and may even look less appealing as a defensive play in the event the economy turns sour. ...

Audi CEO says diesel crisis not over and vows to stay on: report

Fri, May 25, 2018

FRANKFURT (Reuters) - Audi Chief Executive Rupert Stadler said the diesel emissions affair was not over and promised to stay at the helm of the German luxury car maker, a German newspaper reported on Saturday. ...

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

Fri, May 25, 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. ...

FBI warns Russians hacked hundreds of thousands of routers

Fri, May 25, 2018

(Reuters) - The FBI warned on Friday that Russian computer hackers had compromised hundreds of thousands of home and office routers and could collect user information or shut down network traffic. ...

Olympics: Sporting events put Japan businesses in the mood for love

Fri, May 25, 2018

TOKYO (Reuters) - As Japan gears up to host the Rugby World Cup and Olympic Games in consecutive years, many businesses are seizing on the opportunity to capitalize on the influx of tourists, media and athletes for both big events. ...

Fox Business news

Supermarket suspends political giving amid anti-NRA protest

Sat, May 26, 2018

The Publix supermarket chain says it's suspending political contributions as it reevaluates its giving policy after students from the Parkland, Florida, high school where 17 people were killed called for a boycott because it supports a candidate aligned with the National Rifle Association....

Cisco weighs cybersecurity, cloud technology deals

Sat, May 26, 2018

Networking hardware company looks for complementary M&A, according to CEO Chuck Robbins....

Trump takes steps to ease firing of federal workers

Sat, May 26, 2018

President Donald Trump on Friday signed a trio of executive orders to overhaul the federal bureaucracy by making it easier to fire federal workers for poor performance and misconduct, requiring that departments and agencies negotiate better union contracts and limiting the amount of time certain federal workers can spend on union business....

‘Patriotic’ portfolio: How to invest in companies that hire veterans

Sat, May 26, 2018

Our nation's veterans bring dedication and value to our workforce, and now investors can show their support by investing in a “patriotic” ETF....

Canadian investor backs away from Alaska mine project

Fri, May 25, 2018

A Canadian company that was courted as a potential partner in a proposed copper-and-gold mine near one of the world's largest salmon fisheries has backed away from the project....

California measure to slash marijuana taxes suffers setback

Fri, May 25, 2018

California's legal marijuana industry will have to wait for a tax cut....

Court: Montana minimizes impact of mining near Yellowstone

Fri, May 25, 2018

A gold exploration proposal just north of Yellowstone National Park has suffered a significant setback with a court ruling released Friday that faulted Montana officials for understating mining's potential harm to land, water and wildlife....

Tiny California cottage on market for just under $1 million

Fri, May 25, 2018

A 595-square-foot (55-square meter) Southern California cottage with one bedroom and one bathroom is on the market for just under $1 million....

For CEOs, $11.7 million a year is just middle of the pack

Fri, May 25, 2018

Chief executives at the biggest public companies got an 8.5 percent raise last year, eclipsing the wage gains for the typical worker and bringing the median pay package for CEOs to $11.7 million....

Trump tax cut surge: S&P 500 companies return $1T to shareholders

Fri, May 25, 2018

They paid out $428 billion in dividends and bought up $573 billion of their own shares, according to an S&P Dow Jones Indices analyst. ...

CNN News

Trump supporters say his 'peace through strength' doctrine is at work, where America flexes its military and economic muscles to shape the world it wants

Sat, May 26, 2018

President Donald Trump's decision to cancel his historic meeting with North Korea's Kim Jong Un left South Korea's President "perplexed" and sparked angry protests in Seoul. One sign read: "We condemn Trump." ...

Trump's 'yes' then 'no' then 'yes' approach leaves Singapore summit fate unclear

Sat, May 26, 2018

Twenty-four hours after President Donald Trump dictated a dejected letter to Kim Jong Un canceling their June 12 meeting, he appeared to reverse course, telling reporters Friday the diplomatic encounter could still occur on the same date if conditions keep improving. ...

Trump and Kim Jong Un's ups and downs

Fri, May 25, 2018

Watch President Trump's evolving views of North Korean leader Kim Jong Un. ...

Trump heralds US military in Naval Academy commencement address

Fri, May 25, 2018

President Donald Trump heralded more than 1,000 newly-commissioned US Navy and Marine Corps officers on Friday for becoming "leaders in the most powerful and righteous force on the planet" as he delivered the commencement address at the US Naval Academy. ...

Trump says N. Korea summit talks continue: 'Could even be the 12th'

Fri, May 25, 2018

President Donald Trump told reporters Friday he remains open to holding a summit with North Korea's Kim Jong Un on June 12. ...

US-North Korea: Where do we go from here?

Fri, May 25, 2018

On May 24, US President Donald Trump canceled what would have been a historic summit with North Korean leader Kim Jong Un. CNN's Christiane Amanpour looks at where the relationship between the two countries goes from here. ...

Lava gushes from volcanic cracks in Hawaii

Fri, May 25, 2018

...

Lava 'river' engulfs home in minutes

Sat, May 26, 2018

Isaac Krakauer filmed this "river" of lava near his home in Hawaii's Leilani Estates neighborhood. ...

He nearly lost his leg, but he saved his neighbor's home

Sat, May 26, 2018

A couple of weeks ago, Steve Hill's family packed up their furniture and valuables and left their property on Hawaii's Big Island for the mainland. ...

Hero teacher tackles school shooter

Sat, May 26, 2018

A teacher is being credited with disarming a student suspected of opening fire at an Indiana middle school. ...

The Wall Street Journal

Harvey Weinstein Charged With Felony Sex Crimes

Fri, May 25, 2018

Former Hollywood producer Harvey Weinstein was charged in New York state court with felony sex crimes allegedly committed against two women....

New Push to Topple Affordable Care Act Looms

Fri, May 25, 2018

A group of Republicans and advocacy groups will soon release a proposal intended to spark another push to repeal the Affordable Care Act, reviving a potentially volatile issue ahead of the November midterm elections....

Trump Issues Orders Making It Easier to Fire Federal Workers

Fri, May 25, 2018

President Trump signed three executive orders making it easier for the federal government to fire employees it considers to be poor performers, drawing rebukes from union representatives. ...

After Hurricane, Texas Town Takes It Upon Itself to Fortify

Fri, May 25, 2018

As the start of a new hurricane season looms on June 1, homeowners in Rockport, Texas—which was hit hard by Hurricane Harvey—are grappling with how to build back stronger. ...

Mike Meru Has $1 Million in Student Loans. How Did That Happen?

Fri, May 25, 2018

Due to escalating tuition and easy credit, the U.S. has 101 people who owe at least $1 million in federal student loans. Five years ago, 14 people owed that much. More could soon be joining the group....

Oversize Classrooms? Not in Vermont

Fri, May 25, 2018

Vermont has the lowest student-teacher ratio in the nation and some of the highest spending per pupil. Now, the state’s Republican governor wants legislators to embrace his plan to reduce school expenses....

USC President C.L. Max Nikias Steps Down

Fri, May 25, 2018

The University of Southern California’s president agreed to step down after allegations were made public that a longtime gynecologist at the school’s student-health center had sexually abused patients for years....

The Book on Sports Betting: The House Holds the Cards

Fri, May 25, 2018

Now that the Supreme Court has paved the way for sports betting nationwide, it’s worth a look at the most common types of wagers. But in all cases, the house takes a commission, meaning it generally comes out ahead....

Chances Revived for Korea Summit

Sat, May 26, 2018

President Trump struck a more optimistic note after North Korea said it remained willing to meet despite his decision to scrap plans for a June 12 summit....

McConnell: Senate Farm Bill May Not Include Tighter Work Requirements

Fri, May 25, 2018

Senate Majority Leader Mitch McConnell said the Senate needs to pass a farm bill even if it doesn’t include the tighter work requirements around food stamps that have become a flashpoint in the House....