Below please find daily updates pertaining to the latest in financial, business, and tax news:
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 issues. All personal details are removed to protect the privacy of the taxpayer. A TAS case advocate worked diligently on a preparer fraud case to get a taxpayer his refund due. When the taxpayer had his return prepared, he agreed ...Fri, Mar 16, 2018
The Taxpayer Advocate Service (TAS) is currently experiencing very high call volumes on its toll-free telephone line. TAS calls have spiked because problems with the IRS’s income verification process have delayed tax refunds for a substantial number of taxpayers, many of whom have claimed the Earned Income Tax Credit or the Additional Child Tax Credit on their returns. Many taxpayers fac...Fri, Mar 16, 2018
The Taxpayer Advocate Service (TAS) will conduct Problem Solving Day events in communities throughout the country in the coming months and year. During these events, TAS employees from a local office will be available to assist taxpayers in person with tax problems they have not been able to resolve with the IRS. Generally, TAS can assist taxpayers whose problems with the IRS are causin...
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 March 13, 2018, the IRS announced that on September 28, 2018, it would end the offshore voluntary disclosure program (OVDP), as it had only attracted 600 applican...Mon, Mar 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 issues. All personal details are removed to protect the privacy of the taxpayer. TAS advocated for a taxpayer who did not get his 2013 refund as expected. Originally, the IRS held his refund while they audited his return for his fi...
National Taxpayer Advocate Nina Olson recently spoke with Yahoo! Finance on new tax issues taxpayers may face during the filing season this year. During the brief interview, Ms. Olson highlights the scope of what the Taxpayer Advocate Service does to help taxpayers experiencing IRS tax issues find resolution. Additionally, she offers recommendations on how to navigate the tax landscape this yea...Wed, Feb 28, 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. Can a simple educational letter to taxpayers who appear to have erroneously claimed the earned income tax credit (EITC) actually avert future noncompliance? Based on...Mon, Feb 26, 2018
The Internal Revenue Service is warning taxpayers of a quickly growing scam involving erroneous tax refunds being deposited into their bank accounts. Criminals have a new twist on an old scam. After stealing taxpayer data from tax professionals and filing fraudulent tax returns, these criminals use the taxpayers' real bank accounts for the deposit. The thieves are then using various tactics to ...
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. As part of my recently released Annual Report to Congress, I identified IRS employee training as one of the Most Serious Problems facing taxpayers. It may seem...Fri, Feb 16, 2018
Nonresident Aliens’ Ability to Receive Credit for Certain Taxes Withheld at Source Continues to Be Jeopardized 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. Imagine how you would feel if you were expecting...
SAN FRANCISCO (Reuters) - Facebook Inc Chief Executive Mark Zuckerberg apologized on Wednesday for mistakes his company made in how it handled data belonging to 50 million of its users and promised tougher steps to restrict developers' access to such information. ...Thu, Mar 22, 2018
TOKYO (Reuters) - The U.S. dollar slipped on Thursday after the Federal Reserve held back from increasing the pace of this year's rate hikes, while worries over an impending announcement on trade tariffs from U.S. President Donald Trump capped Asian shares. ...Thu, Mar 22, 2018
WASHINGTON (Reuters) - President Donald Trump will announce tariffs on Chinese imports on Thursday, a White House official said, in a move aimed at curbing theft of U.S. technology and likely to trigger retaliation from Beijing and stoke fears of a global trade war. ...Thu, Mar 22, 2018
SAN FRANCISCO (Reuters) - Big internet companies and small software developers alike are likely to face scrutiny over how they share customer information in the wake of the scandal involving Facebook Inc and the British election consulting firm Cambridge Analytica. ...Thu, Mar 22, 2018
BEIJING (Reuters) - China's crude oil futures, to be launched on Monday, will be a major step in Beijing's years-long push to win greater sway over oil pricing, but for western traders it will likely bring frustration as well as opportunity. ...Thu, Mar 22, 2018
NEW YORK/LONDON (Reuters) - British consumer goods group Reckitt Benckiser Group has pulled out of discussions with Pfizer Inc over buying its consumer healthcare business, strengthening the hand of British drugmaker GlaxoSmithKline Plc . ...Thu, Mar 22, 2018
LAS VEGAS/HONG KONG (Reuters) - Best Buy Co Inc, the largest U.S. consumer electronics retailer, will cut ties with China's Huawei Technologies Co Ltd, a person familiar with the matter said, amid heightened scrutiny on Chinese tech firms in the United States. ...Wed, Mar 21, 2018
WASHINGTON (Reuters) - The U.S. Federal Reserve raised interest rates on Wednesday and forecast at least two more hikes for 2018, highlighting its growing confidence that tax cuts and government spending will boost the economy and inflation and spur more aggressive future tightening. ...Thu, Mar 22, 2018
FRANKFURT (Reuters) - Malta's regulators have imposed a freeze on the business of Pilatus Bank after its chairman's arrest on charges of breaking U.S. sanctions prompted a fresh wave of criticism of the island's authorities. ...Wed, Mar 21, 2018
(Reuters) - U.S. media company Meredith Corp said on Wednesday it cut about 200 jobs and would lay off another 1,000 as it streamlines its operations following the completion of its Time Inc acquisition. ...
British consumer goods group Reckitt Benckiser has pulled out of discussions with Pfizer over buying its consumer healthcare business....Thu, Mar 22, 2018
Congressional leaders have finalized a sweeping $1.3 trillion budget bill that substantially boosts military and domestic spending but leaves behind young immigrant "Dreamers," deprives President Donald Trump some of his border wall money and takes only incremental steps to address gun violence....Thu, Mar 22, 2018
Nationwide strikes are causing major disruptions to trains, planes, schools and other public services in France Thursday as unions set up dozens of street protests across the country....Thu, Mar 22, 2018
Turkey's largest media group says it is in talks with a pro-government business group for the sale of its outlets, a development that further curtails independent journalism in the country....Thu, Mar 22, 2018
Toy company executive Isaac Larian says he and other investors have pledged a total of $200 million in financing and hope to raise four times that amount in crowdfunding in order to bid for up to 400 of the Toys R Us stores being liquidated in bankruptcy....Thu, Mar 22, 2018
Futures traders were cautious the day after the Federal Reserve raised interest rates and ahead of a trade tariff announcement....Thu, Mar 22, 2018
In patriarchal South Korea, the MeToo movement has taken off with unexpected rapidity, toppling male celebrities including a prominent politician....Thu, Mar 22, 2018
Starbucks, thirsty for some social media magic, is releasing its latest sugary concoction: the fortune-telling Crystal Ball Frappucino....Thu, Mar 22, 2018
Most people who own a smartphone take it wherever they go, a fact of modern life that enabled authorities to hunt down the man suspected in five Texas bombings before he blew himself up Wednesday....Thu, Mar 22, 2018
Farmers, electronics retailers and other U.S. businesses are bracing for a backlash as President Donald Trump targets China for stealing American technology or pressuring U.S. companies to hand it over....
...Wed, Mar 21, 2018
Special counsel Robert Mueller's team has so far discussed with President Donald Trump's lawyers four main topics they want to talk about with the President. ...Thu, Mar 22, 2018
CNN's Anderson Cooper discusses US President Donald Trump's relationship with Russian President Vladimir Putin. ...Thu, Mar 22, 2018
President Donald Trump's attorney plans to appeal a New York Supreme Court judge's decision to allow a defamation lawsuit against the President to go forward. ...Wed, Mar 21, 2018
Donald Trump's attorney says he intends to appeal a judge's decision to allow the defamation lawsuit against Trump to go forward. The suit was filed by former "Apprentice" contestant Summer Zervos and alleges Trump defamed her after she publicly accused him of sexually assaulting her in 2007. CNN's Brian Todd reports. ...Wed, Mar 21, 2018
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Days before Mark Anthony Conditt blew himself up alongside an interstate near Austin on Wednesday morning, investigators had zeroed in on him, believing he was the serial bomber whose lethal handiwork had terrorized the city....Thu, Mar 22, 2018
As the Trump administration pursues talks to grant some allies exemptions from U.S. tariffs on steel and aluminum, China is preparing to target U.S. farm exports....Thu, Mar 22, 2018
Congressional leaders reached a deal on a spending bill that would fund the government until October, ending a protracted negotiation that left lawmakers little time to pass the legislation before the government’s funding expires at week’s end....Wed, Mar 21, 2018
A regulation in Pennsylvania has turned out to be surprisingly effective in bringing down emissions at coal-fired power plants and is winning some respect from environmentalists and regulators....Wed, Mar 21, 2018
The U.S. has made significant strides in better protecting the election system after a Russian campaign of hacking and misinformation during the 2016 election, the Trump administration’s Homeland Security chief told Congress....Wed, Mar 21, 2018
New York City was at the center of the fourth nor’easter to strike this month, with wet snow and strong winds disrupting travel and business around the region....Wed, Mar 21, 2018
A Houston civil rights group is suing to block the city from receiving federal funds for housing, community projects and Hurricane Harvey rebuilding until it changes housing policies the group says have helped perpetuate racial segregation. ...Wed, Mar 21, 2018
A massive U.S. auction of oil and gas leases in the Gulf of Mexico Wednesday garnered lukewarm interest from buyers, a poor omen for the Trump administration’s efforts to jump-start offshore exploration....Thu, Mar 22, 2018
The House of Representatives passed a “Right to Try” bill backed by the White House that would make unproven drugs more easily available to terminally ill patients, following changes made to address criticism of a version passed by the Senate. ...Wed, Mar 21, 2018
The Trump administration Wednesday named Robert Redfield to head the Centers for Disease Control and Prevention....
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