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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

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 befound 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.&rdq...

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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Taxpayer Roadmap

Tue, Aug 06, 2019

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NTA Blog: NTA Farewell

Wed, Jul 31, 2019

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 Today is the last day of my tenure as the National Taxpayer Advocate. It has been a wild ride over these last 18 years. It will take me years to sort out what has gon...

NTA Blog: The Roadmap to the Roadmap: A Travelogue

Mon, Jul 29, 2019

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 On July 10th, my office released the 2019 Taxpayer Roadmap—a visual representation of the taxpayer’s journey through the tax system. I am enormously ...

Success Story: Taxpayer Advocate Service advocates for alternative approach to expense verification in correspondence audit

Thu, Jul 18, 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. Audits can be a very scary and daunting task for taxpayers who travel for business. Recordkeeping requirements involve taxpayers keeping...

Reuters News

OxyContin maker Purdue Pharma files for bankruptcy protection

Mon, Sep 16, 2019

OxyContin maker Purdue Pharma LP filed for bankruptcy protection Sunday night, succumbing to pressure from more than 2,600 lawsuits alleging the company helped fuel the deadly U.S. opioid epidemic. ...

What's next for OxyContin maker Purdue Pharma

Mon, Sep 16, 2019

OxyContin maker Purdue Pharma LP filed for bankruptcy protection after reaching a partial deal to resolve more than 2,600 lawsuits alleging it helped fuel the U.S. opioid crisis. ...

FAA chief to meet with Boeing officials, test 737 MAX simulator

Mon, Sep 16, 2019

New Federal Aviation Administration (FAA) chief Stephen Dickson plans to fly to Seattle this week to fly "newly configured" Boeing 737 MAX software in a simulator and will visit with Boeing officials, the agency said Monday. ...

International panel to criticize U.S. FAA's Boeing 737 MAX approval process: WSJ

Mon, Sep 16, 2019

A panel of international air-safety regulators is finishing a report, which is expected to criticize the initial U.S. approval process for Boeing Co's 737 MAX jets, the Wall Street Journal reported, citing people briefed on the conclusions. ...

Oil trims gains but Middle East risks keep stocks on back foot

Mon, Sep 16, 2019

Oil shed some of its massive gains on Tuesday as the United States flagged the possible release of crude reserves, but the threat of military action over the attacks on Saudi oil facilities kept prices elevated and stocks under pressure. ...

Trump says U.S. reaches trade deals with Japan, no vote needed

Mon, Sep 16, 2019

U.S. President Donald Trump said on Monday that the United States has reached initial trade agreements with Japan on tariff barriers and digital trade that will not require congressional approval. ...

Japan finance minister Aso: currency provision won't be included in Japan-U.S. trade deal

Mon, Sep 16, 2019

Japanese Finance Minister Taro Aso said on Tuesday that a currency provision won't be included in a Japan-U.S. bilateral trade deal that the two countries are aiming to conclude by the end of this month. ...

U.S., Chinese trade deputy talks to start on Thursday: USTR

Mon, Sep 16, 2019

Deputy-level U.S.-China trade talks are scheduled to start in Washington on Thursday, the U.S. Trade Representative's office said on Monday, paving the way for high-level talks in October aimed at resolving a bitter, 14-month trade war. ...

Workers picket GM plants as UAW contract talks resume

Mon, Sep 16, 2019

Negotiators for General Motors Co and the United Auto Workers were continuing talks Monday afternoon to resolve a strike that shut down the automaker's highly profitable U.S. operations. ...

Cheers and honking horns greet first day of UAW strike against GM

Mon, Sep 16, 2019

Willie Elzy has been readying for a possible strike against General Motors Co for months and, pointing to a parking lot full of freshly built pickup trucks, he says it's clear the automaker has been preparing too. ...

Fox Business news

GM-UAW strike: Day 1

Mon, Sep 16, 2019

The first strike against GM since 2007 brought more than 50 facilities across the country to a standstill on Monday morning, threatening the company’s supply chain....

Keystone XL pipeline will give US access to nearly a million barrels of oil a day: Alberta Premier

Mon, Sep 16, 2019

Canada has 'huge untapped reserves' said Alberta Premier Jason Kenney to FOX Business....

JPMorgan traders indicted for market manipulation, racketeering: feds

Mon, Sep 16, 2019

Three JPMorgan traders, some of whom were executives, were indicted on charges that they tricked the market related to orders of gold, silver and other metals....

New York to ban flavored e-cigarettes amid vaping health 'crisis'

Mon, Sep 16, 2019

New York expedites plan to ban e-cigarettes....

Saudi Aramco oil field attacks may reportedly delay IPO

Mon, Sep 16, 2019

About half of Saudi Arabia's production is offline following the attack....

Movers & Shakers: Sept. 16, 2019

Mon, Sep 16, 2019

The stories moving the markets and shaking up the world....

Stocks point lower as oil surges on Saudi facility attack

Mon, Sep 16, 2019

The jump in crude prices hurt airline stocks and other businesses with big fuel bills and put upward pressure on inflation expectations....

Purdue Pharma files for bankruptcy as part of settlement

Mon, Sep 16, 2019

The filing was anticipated before and after the tentative deal, which could be worth up to $12 billion over time, was struck....

GM Strike: UAW says automaker should have made latest offer sooner

Mon, Sep 16, 2019

UAW: GM's offer came too late....

Stocks slide as oil surges to biggest gain in 11 years

Mon, Sep 16, 2019

The attack on the Saudi Aramco facility halted production of 5.7 million barrels of crude a day, more than half of Saudi Arabia's global daily exports....

CNN News

The administration now says Trump's 'locked and loaded' comment about Iran had nothing to do with a military strike. Here's why that's a problem.

After this weekend's attacks on the world's largest oil processing plant, the questions are simple: Who did it, from where and what will the response be? ...

Trump contradicts himself and his closest advisers

Mon, Sep 16, 2019

President Trump attacked news reports that said he is willing to meet with Iran without preconditions, despite saying that himself months earlier. ...

Omar: An administration 'that lies about weather maps' can't be trusted on Iran

Tue, Sep 17, 2019

Rep. Ilhan Omar on Monday dismissed President Donald Trump's ability to navigate escalating tensions with Iran, pointing to the controversy over Hurricane Dorian's path and whether it would hit Alabama. ...

Analysis: The drumbeat to hold Iran responsible gets louder

Mon, Sep 16, 2019

After this weekend's attacks on the world's largest oil processing plant, the questions are simple: Who did it, from where and what will the response be? ...

Trump says it looks like Iran was behind Saudi oil field attack

Tue, Sep 17, 2019

President Donald Trump told reporters Monday that "it's looking like" Iran was behind this weekend's attack on oil facilities in Saudi Arabia but suggested it was too early to say for sure. He also said he was "not looking to get into new conflict, but sometimes you have to." ...

Oil shock hits a global economy that's already on shaky ground

Tue, Sep 17, 2019

Washington and Beijing are locked in a bitter trade war involving tariffs on hundreds of billions of dollars worth of goods. Consumer and business sentiment is suffering as global manufacturing contracts. ...

Opinion: Trump gets amnesia on Iran

Mon, Sep 16, 2019

The leaders of Iran have reason to be confused about what President Trump's goals are when it comes to their country. Trump pulled the United States out of the Iranian nuclear deal last year and then imposed draconian new sanctions on Iran. In June, Trump ordered military strikes against Iran and then called them off at the last minute. Trump has also said he would sit down with the Iranian lea...

White House tells Lewandowski not to answer questions and asserts immunity for others

Tue, Sep 17, 2019

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Botched NYT Kavanaugh story is the latest in a series of blunders from Opinion section

Tue, Sep 17, 2019

• How to impeach a Supreme Court justice • 5 takeaways from the new book about Brett Kavanaugh ...

10-year-old girl who contracted a brain-eating amoeba while swimming has died

Mon, Sep 16, 2019

A Texas girl has died after battling a brain-eating amoeba for more than a week, according to her family and school. ...

The Wall Street Journal

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