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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: IRS Examinations Continued - The IRS Should Promote Voluntary Compliance and Minimize Taxpayer Burden in the Selection and Conduct of Audits

Wed, May 15, 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 In my recently released Annual Report to Congress, I discussed the need to evaluate the impact of IRS audits on voluntary compliance. Last week’s blog discussed...

Success Story: Through advocacy and perseverance, TAS helped relieve a taxpayer’s hardship

Tue, May 14, 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. One of the main reasons TAS exists is to help taxpayers with tax problems who are also suffering financial hardships. When taxpayers owe...

NTA Blog: There is Still Time to Register for the International Taxpayer Rights Conference

Thu, May 09, 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 We are just weeks away from the 4th International Taxpayer Rights Conference. This year’s conference takes place May 23-24, 2019 at the University of Minnesota ...

NTA Blog: IRS Examinations - The IRS Should Promote Voluntary Compliance and Minimize Taxpayer Burden in the Selection and Conduct of Audits

Wed, May 08, 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 In February of 2019, I released the 2018 Annual Report To Congress in which, among other things, I discuss the influence of tax audits on taxpayers’ attitudes a...

NTA Blog: Although the IRS Has Made Some Improvements, Math Error Notices Continue to Be Unclear and Confusing, Thereby Undermining Taxpayer Rights and Increasing Taxpayer Burden

Thu, May 02, 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 With the filing season in full operation, many taxpayers are receiving correspondence from the IRS that convey significant taxpayer rights and require taxpayers to ta...

2019 Tax Forums will feature TAS seminars and the Case Resolution Program

Fri, Apr 26, 2019

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...

NTA Blog: The Second Circuit in Borenstein Helped to Close the Gap in the Tax Court's Refund Jurisdiction, but Only for Taxpayers in that Circuit

Wed, Apr 24, 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 In 2017, the U.S. Tax Court decided the case of Borenstein v. Commissioner by applying a technical reading of a statutory rule that produced a gap in its refund juris...

TAS Tax Tip: Updates to Estimated Tax Penalty Waiver

Tue, Apr 23, 2019

The April 15th tax deadline has passed, however the IRS announced on March 22, 2019 that it is expanding the waiver of the Estimated Tax Penalty to include relief for taxpayers whose total withholding and estimated tax payments equal or exceed 80 percent of the tax shown on the return for the 2018 taxable year. This threshold was reduced from the 85 percent threshold in Notice 2019-11, Relief f...

Tax Notes podcast features an interview with the National Taxpayer Advocate

Fri, Apr 19, 2019

On April 11, National Taxpayer Advocate (NTA) Nina Olson sat down with a senior reporter from Tax Notes, an online publication for tax professionals, to record an interview about the filing season and other tax issues. In part one of this two-part podcast, the NTA brings her unique perspective to bear on the status of the filing season and how the government shutdown affected not only the proce...

NTA Blog: The Adoption of a Withholding Code and the Improvement of Free File Fillable Forms Would Streamline Tax Withholding and Reporting

Thu, Apr 18, 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 In last week’s blog, I discussed the potential benefits arising from an expansion of the pay-as-you-earn (PAYE) tax system to incorporate additional income item...

Reuters News

Fears of deeper U.S.-China trade war push Asian shares to four-month low

Thu, May 23, 2019

Asian stocks stumbled to a four-month low on Friday and crude oil plunged on worries the U.S.-China trade spat was developing into a more entrenched strategic dispute between the world's two largest economies, pushing investors to safe-haven assets. ...

Oil bounces back, but markets remain fragile amid trade disputes

Thu, May 23, 2019

Oil prices jumped more than 1% on Friday amid OPEC supply cuts and Middle East tensions, but still did not fully recoup losses earlier in the week on economic slowdown jitters and swelling inventories - their steepest drops since the start of the year. ...

India's jobs deficit: Project in Gujarat struggling to create employment

Thu, May 23, 2019

When he was chief minister of the Indian state of Gujarat in 2011, Indian Prime Minister Narendra Modi kicked off an ambitious project to develop a financial hub in the style of Singapore or Dubai. ...

U.S. regulator sees approval of Boeing 737 MAX to fly as soon as late June: sources

Thu, May 23, 2019

The Federal Aviation Administration (FAA) expects to approve Boeing Co's 737 MAX jet to return to service as soon as late June, representatives of the U.S. air regulator informed members of the United Nations' aviation agency in a private briefing on Thursday, sources told Reuters. ...

Trump says 'dangerous' Huawei could be included in U.S.-China trade deal

Thu, May 23, 2019

President Donald Trump said on Thursday U.S. complaints against Huawei Technologies Co Ltd might be resolved within the framework of a U.S.-China trade deal, while at the same time calling the Chinese telecommunications giant "very dangerous." ...

Exclusive: JPMorgan cuts ties with OxyContin maker Purdue Pharma - sources

Thu, May 23, 2019

JPMorgan Chase & Co has cut ties with Purdue Pharma LP over the OxyContin maker's alleged role in the U.S. opioid crisis, forcing it to find a new bank to manage cash and bill payments, people familiar with the matter said on Thursday. ...

FAA chief calls eight-hour meeting on Boeing 737 MAX 'exceedingly positive'

Thu, May 23, 2019

The acting head of the Federal Aviation Administration said on Thursday that an eight-hour meeting with international air regulators to discuss the grounded Boeing Co 737 MAX was "exceedingly positive" and "constructive." ...

Exclusive: U.S. airlines expect Boeing 737 MAX jets need up to 150 hours of work before flying again

Thu, May 23, 2019

Once regulators approve Boeing Co's grounded 737 MAX jets for flight, each aircraft will likely require between 100 and 150 hours of preparation before flying, officials from the three U.S. airlines that operate the MAX told Reuters. ...

Trump administration announces $16 billion farm aid plan to offset trade war losses

Thu, May 23, 2019

The Trump administration on Thursday unveiled a $16 billion farm aid package to offset losses from a 10-month trade war with China and said payment rates to farmers would be determined by where they farm rather than what crops they grow. ...

Fed officials say trade tensions could threaten growth

Thu, May 23, 2019

The recent ratcheting up of U.S.-China trade tensions is creating uncertainties for businesses and could threaten economic growth, four Federal Reserve policymakers said on Thursday. ...

Fox Business news

These 3 Mistakes During Your Working Years Will Haunt You in Retirement

Fri, May 24, 2019

Consider yourself warned....

AGF Debuts Two Alternative ETFs on NYSE Arca

Fri, May 24, 2019

This article was originally published on ETFTrends.com....

DXC Technology Company (DXC) Q4 2019 Earnings Call Transcript

Fri, May 24, 2019

DXC earnings call for the period ending May 24, 2019....

American Water Works' CEO Talks PFAS Contamination in U.S. Drinking Water Supply

Fri, May 24, 2019

Buy American Water stock, as this emerging issue is a growth driver....

After Hours: Boeing's Possible Break, Autodesk's Q1 Whiff

Fri, May 24, 2019

America's big aircraft maker may soon get a reprieve, plus Autodesk and the Hewlett Packards report earnings....

Toro Co (TTC) Q2 2019 Earnings Call Transcript

Fri, May 24, 2019

TTC earnings call for the period ending March 31, 2019....

Indian ETF Offers Opportunity To Invest In Growing Economy

Fri, May 24, 2019

This article was originally published on ETFTrends.com....

Splunk Starts the Year Strong, Raises Guidance (Again)

Thu, May 23, 2019

Over 400 new customers decided to dive into their data using Splunk's operational-intelligence platform last quarter....

Same-Day Delivery Is Driving Target Sales

Thu, May 23, 2019

The company has actually beaten Amazon and Walmart in rolling out select digital fulfillment services....

3 Ways to Boost Your Retirement Savings Without Upping Your Contributions

Thu, May 23, 2019

These smart strategies can help you grow your nest egg without forking over any more of your hard-earned cash....

CNN News

The President ordered the agencies to assist in a review of surveillance issues surrounding his 2016 campaign and authorized Barr to declassify documents

Fri, May 24, 2019

President Donald Trump ordered all intelligence agencies late Thursday evening to assist Attorney General William Barr in his review of surveillance issues surrounding Trump's 2016 presidential campaign, delegating significant authority to Barr to declassify intelligence documents as the attorney general sees fit. ...

Read: Trump orders intel agencies to assist Barr with review of Russia probe

Fri, May 24, 2019

President Donald Trump ordered all intelligence agencies late Thursday evening to assist Attorney General William Barr in his review of surveillance issues surrounding Trump's 2016 presidential campaign, delegating significant authority to Barr to declassify intelligence documents as the attorney general sees fit. ...

House Judiciary chair: Mueller 'wants to testify in private'

Fri, May 24, 2019

House Judiciary Chairman Jerry Nadler said Thursday that special counsel Robert Mueller wants to testify in private in order to avoid a political spectacle after more than a year of public silence. ...

Barr rails against court orders blocking Trump agenda

Wed, May 22, 2019

Attorney General William Barr on Tuesday criticized what he sees as a growing trend of courts issuing nationwide injunctions to pause policy moves within the Executive Branch, which threaten separation of powers and thwarts President Donald Trump's agenda. ...

Trump lists people he believes committed treason

Fri, May 24, 2019

During an impromptu press conference, a reporter asked President Donald Trump to expound on his recent claims of treason and name specific people he is accusing. ...

Barr to WSJ: I felt rules were changed to hurt Trump

Tue, May 21, 2019

President Donald Trump is accusing his opponents of treason, claiming the FBI spied on his 2016 campaign. Attorney General William Barr is digging in, telling the Wall Street Journal he "felt the rules were being changed to hurt Trump" and that it is damaging to the presidency. ...

Trump denies 'temper tantrum' in angry public episode

Fri, May 24, 2019

President Donald Trump ratcheted up his feud with House Speaker Nancy Pelosi on Thursday, turning an event organized to announce a multibillion-dollar aid package to farmers into a nearly half-hour-long diatribe against his Democratic rivals. ...

Doctored videos shared to make Pelosi sound drunk viewed millions of times on social media

Fri, May 24, 2019

A manipulated video being shared by some social media users to spread a false claim that House Speaker Nancy Pelosi slurred her words after meeting with President Donald Trump on Wednesday has been removed by YouTube, the company told CNN on Thursday. ...

Analysis: Tillerson proves something very crucial about Trump

Fri, May 24, 2019

When Donald Trump chose Rex Tillerson to be his secretary of state in December 2016, he praised the former head of ExxonMobil for his "tenacity, broad experience and deep understanding of geopolitics." In a tweet touting the pick, Trump called Tillerson "one of the truly great business leaders of the world." ...

Trump arrives in Japan with his Asia policy in tatters

Fri, May 24, 2019

Shinzo Abe's long game is paying off. Only a year ago, the Japanese Prime Minister was looking like the odd one out as US President Donald Trump cozied up to China's Xi Jinping and North Korean leader Kim Jong Un. ...

The Wall Street Journal

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