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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

TAS Tax Tip: Avoid scams offering Economic Impact Payments

Thu, Apr 02, 2020

We know everyone is eager to get more information on the recent Coronavirus Tax Relief and to receive an Economic Impact Payment, if they qualify. While it’s tempting, don’t fall victim to scams that promise to get you payments faster in exchange for your personal information or for a fee – they can’t do that. Don’t believe scammers pretending to be the Internal R...

Coronavirus (COVID-19) Tax Updates

Tue, Mar 31, 2020

GET HELP The Taxpayer Advocate Service (TAS) remains commited to assisting taxpayers and championing their taxpayer rights. TAS will continue to offer help to qualified taxpayers by telephone. Visit www.taxpayeradvocate.irs.gov/contact-us and use the digital map to find a local telephone number in your area. Check this page frequently for tax-related changes as new information is made availabl...

TAS welcomes new National Taxpayer Advocate, Erin M. Collins

Mon, Mar 30, 2020

  The Taxpayer Advocate Service (TAS) is pleased to announce that Erin M. Collins has joined the Taxpayer Advocate today as the new National Taxpayer Advocate. Erin has more than 35 years of experience in tax law. She began her career as an attorney in the IRS Office of Chief Counsel, where she worked for nearly 15 years in the Los Angeles District Counsel office. She then spent 20 years ...

NTA Blog: TAS is open and ready to virtually serve taxpayers

Fri, Mar 27, 2020

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 be found at www.taxpayeradvocate.irs.gov/blog. The health and safety of our employees, taxpayers and tax practitioners are the Taxpayer Advocate Service’s highest priorities. Despite the challenges presented by the National Emerge...

TAS Tax Tip: Where is my refund?

Tue, Mar 24, 2020

  If you’ve already filed your tax return in the last month or so, but haven’t gotten your refund yet, you may be wondering: Where is my refund? The IRS, in general, processes refunds in approximately 21 days, if you filed electronically, and six weeks if you filed a paper tax return. However, there are several things that could delay or stop you from receiving the refund, in ...

NTA Blog: The Taxpayer Advocate Service Celebrates 20 Years of Advocating for Taxpayers

Fri, Mar 13, 2020

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 be found at www.taxpayeradvocate.irs.gov/blog. This week marks a major milestone for the Taxpayer Advocate Service (TAS). On March 12, TAS celebrated its 20th anniversary. Although the IRS previously had procedures in place to assist ta...

The Taxpayer Advocate Service Celebrates 20 Years of Driving Advocacy Forward

Thu, Mar 12, 2020

2020 marks 20 years of the Taxpayer Advocate Service (TAS) working as your “Voice at the IRS,” helping taxpayers solve problems and protecting taxpayers’ rights.   The Restructuring and Reform Act of 1998 (RRA ‘98) established the Taxpayer Advocate Service. On March 12, 2000, the Taxpayer Advocate Service was established as an independent organization within ...

NTA Blog: Implementation of New TAS Case Acceptance Procedures for Non-Identity Theft Refund Fraud Cases During Filing Season 2020

Wed, Mar 04, 2020

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 be found at www.taxpayeradvocate.irs.gov/blog. The IRS uses certain “filters” to detect and prevent tax refund fraud. While these filters do stop a substantial amount of fraud, they also flag hundreds of thousands of returns...

TAS Tax Tip: Keep safe on social media at tax time

Tue, Mar 03, 2020

Waiting on your tax refund can be difficult. It can be even more so when you are unsure about the status or why there might be a delay beyond the timeframe you expected your refund. While you are checking the status of your refund or responding to any IRS requests for additional information, the Taxpayer Advocate Service urges you to protect your personal and tax account information. Social med...

Success Story: 235 tax tip sessions held nationwide to help avoid refund delays

Fri, Feb 28, 2020

Every year the Taxpayer Advocate Service (TAS) helps thousands of people with tax problems. This is only one of many examples of how TAS helps resolve taxpayer issues. Taxpayer advocates from coast to coast, including Puerto Rico, held a combined two hundred and thirty-five events just before the start of the tax filing season. These free tax sessions invited taxpayers to visit and get tax fili...

Reuters News

Airline industry braces for prolonged recovery from coronavirus crisis

Thu, Apr 02, 2020

International seat capacity has dropped by almost 80% from a year ago and half the world's airplanes are in storage, new data shows, suggesting the aviation industry may take years to recover from the coronavirus pandemic. ...

Trump says 3M 'will have a big price to pay' over face masks

Thu, Apr 02, 2020

President Donald Trump slammed 3M Co in a tweet late on Thursday after earlier announcing he was invoking the Defense Production Act to get the company to produce face masks. ...

Boeing to temporarily suspend Philadelphia area operations amid coronavirus outbreak

Thu, Apr 02, 2020

Boeing Co said on Thursday it will temporarily suspend production at facilities in Ridley Township, Pennsylvania, amid the ongoing coronavirus pandemic, adding that the suspension will last two weeks, with work to resume on April 20. ...

Airbnb lowers internal valuation to $26 billion as coronavirus hits bookings: source

Thu, Apr 02, 2020

Airbnb lowered its internal valuation by 16% to $26 billion, as the U.S. home rental firm grapples with a slowdown in bookings due to the global spread of the coronavirus pandemic, a source familiar with the matter told Reuters on Thursday. ...

Exclusive: Neiman Marcus advances bankruptcy preparations - sources

Thu, Apr 02, 2020

Neiman Marcus Group is stepping up preparations to seek bankruptcy protection, after the coronavirus pandemic forced the debt-laden U.S. luxury department store chain to close its stores, people familiar with the matter said on Thursday. ...

Oil futures pare record gains as doubts creep in on Trump's Saudi-Russia output deal

Thu, Apr 02, 2020

Oil prices fell on Friday, coming off their biggest one-day gains in the previous session after U.S. President Donald Trump said he had brokered a deal between Saudi Arabia and Russia to cut output, but made no offer to reduce U.S. production. ...

Oil futures pare record gains as doubts creep in on Trump's Saudi-Russia output deal

Thu, Apr 02, 2020

Oil prices fell on Friday, coming off their biggest one-day gains in the previous session after U.S. President Donald Trump said he had brokered a deal between Saudi Arabia and Russia to cut output, but made no offer to reduce U.S. production. ...

Uber to start shipping car disinfectants to drivers

Thu, Apr 02, 2020

Uber Technologies Inc will begin shipping disinfecting car spray to selected drivers in areas most affected by the coronavirus outbreak, an executive said on Thursday. ...

Healthcare stocks show their defensive allure in ailing market

Thu, Apr 02, 2020

The coronavirus pandemic is throwing a spotlight on stocks in the U.S. healthcare sector, home to the companies that could develop treatments, vaccines and improved diagnostics needed to tackle the greatest public health crisis in a century. ...

Mnuchin says small business rescue loans launch Friday, despite lender confusion

Thu, Apr 02, 2020

U.S. Treasury Secretary Steven Mnuchin said he was pressing ahead with the Friday launch of a $349 billion coronavirus rescue loan program for small businesses, after conceding to bank demands to fix aspects of the program that they said could cause participating lenders legal and financial risks. ...

Fox Business news

S&P joins Fitch in affirming US amid virus outbreak, says debt, deficit to worsen

Fri, Apr 03, 2020

The rating agency expected economic recovery in 2021...

Saudi Arabia, Russia may announce oil deal 'soon,' Trump says

Fri, Apr 03, 2020

The deal could cut production by 15 million barrels per day....

Coronavirus airline relief to be run by these Wall Street firms

Thu, Apr 02, 2020

Three Wall St. firms will work with three law firms for coronavirus airline industry relief....

Small business coronavirus loan program is ready, Mnuchin says as Chase raises concerns

Thu, Apr 02, 2020

JPMorgan Chase & Co told business clients it might not be able to begin accepting applications on Friday as officials have promised....

Coronavirus punishes Warren Buffett's equity holdings

Thu, Apr 02, 2020

The coronavirus pandemic may have erased around $64 billion of value from Warren Buffett's equity portfolio at Berkshire Hathaway...

Stocks soar on oil's record gain as Trump expects Russia, Saudi Arabia to cut output

Thu, Apr 02, 2020

Stocks rallied as oil posted its biggest gain on record....

Oil posts biggest gain ever after Trump says he expects Saudis, Russia to cut output

Thu, Apr 02, 2020

President Trump said he wants Saudi Arabia, Russia to cut oil production by 10 million barrels per day....

Coronavirus may tap Tesla's brakes on deliveries

Thu, Apr 02, 2020

Tesla shares have slumped 5.67% since COVID-19 was first reported in the U.S....

Coronavirus makes these market sectors a 'death trap': Minerd

Thu, Apr 02, 2020

The airlines and hospitality industries have seen their values fall by 57 percent and 41 percent, respectively, since the virus was first reported in the U.S. on Jan. 21. ...

Coronavirus drags US Ford sales down 12.5% in first quarter

Thu, Apr 02, 2020

Ford Motor Corp on Thursday posted a 12.5% fall in U.S. auto sales for the first quarter, as production halts and social distancing in the face of the coronavirus pandemic stalled demand....

CNN News

The top doctor on the President's coronavirus team says he doesn't understand why every state hasn't issued the order

Fri, Apr 03, 2020

Tracking virus cases | Newsletter | Podcast | Q&A ...

Coronavirus cases top one million globally

Fri, Apr 03, 2020

• More than 40 spring breakers who ignored health advice test positive for coronavirus ...

Chris Cuomo: I've lost 13 pounds in 3 days from Covid-19

Fri, Apr 03, 2020

CNN's Anderson Cooper and Dr. Sanjay Gupta speak to Chris Cuomo about his coronavirus symptoms and how he's been coping at home with the illness. ...

Latest on face masks: Trump releasing new recommendations

Fri, Apr 03, 2020

President Donald Trump said Thursday his administration will soon release nationwide recommendations on wearing face masks after initially telling Americans they weren't necessary to prevent the spread of coronavirus. ...

Fauci: Why the peak is coming, despite social distancing

Fri, Apr 03, 2020

Dr. Anthony Fauci explains why even after weeks of stay-at-home orders and social distancing, the peak of coronavirus in the US is still yet to come. ...

Tracking the virus: Coronavirus cases in the US by state

Tracking Covid-19 cases in the US ...

Photos: Dr. Anthony Fauci's career under 6 US presidents

Fri, Apr 03, 2020

Dr. Anthony Fauci, a key member of the White House's coronavirus task force, is no stranger to leading the federal response to national health emergencies. ...

Trump says scarves 'better' than masks, exaggerates Europe travel restriction

Fri, Apr 03, 2020

• Analysis: Trump passes the buck as ventilator shortage looms ...

Dr. Gupta demonstrates how to keep groceries and take-out items coronavirus-free

Fri, Apr 03, 2020

• Chris Cuomo shares covid-19 experience: 'The beast comes at night' • 'Inexcusable': Dr. Gupta and Anderson Cooper stunned by Georgia governor's remark • Watch the entire CNN coronavirus town hall ...

Some Americans could wait 20 weeks to receive stimulus checks, IRS tells House Democrats

Thu, Apr 02, 2020

• Live updates: 6.6 million people in the US filed for unemployment last week ...

The Wall Street Journal

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