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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 Unemployment Compensation is Taxable - Explore Your Options Now

Thu, Oct 15, 2020

Unemployment compensation, including special unemployment compensation authorized under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, must generally be included in gross income. If you are receiving unemployment benefits, the benefits are taxable. Do you know you can have tax withheld so you may not owe when you file your tax return next year? How this may affect you If you...

Tax Tip Filing a Petition with the United States Tax Court

Thu, Oct 15, 2020

Taxpayers have the right to appeal an IRS decision in an independent forum. One way taxpayers may exercise this right is by filing a petition with the United States Tax Court.  How do I get to the Tax Court? Receiving a Statutory Notice of Deficiency from the IRS is often referred to as your “ticket” to the Tax Court for a redetermination of liability. If you receive a Statuto...

Taxpayers Can Now Electronically Submit 2019 Forms 1040-X in Certain Cases

Wed, Oct 14, 2020

Starting now, for tax year 2019 only, Form 1040-X, Amended U.S. Individual Income Tax Return can be filed electronically, though commercial tax-filing software. Please be aware that these cannot currently be e-filed directly through IRS systems. Taxpayers will have to check for tax-filing software companies that offer this option via the Internet. Up until now taxpayers had to mail all Forms 10...

Time to claim the Economic Impact Payment for non-filers is extended to November 21

Fri, Oct 09, 2020

Non-filers now have until November 21 to register for their Economic Impact Payment (EIP). Eligible individuals, with little or no income and who are not normally required to file tax returns, now have more time to claim an Economic Impact Payment (EIP) using the IRS Non-Filers tool. The tool is designed for U.S. citizens, permanent residents and qualifying resident aliens who have a valid Soc...

TAS Tax Tip: Why Do I Owe a Penalty and What Can I Do About It?

Tue, Sep 29, 2020

I sent a payment to the IRS. Why did I get a bill? If you mailed a payment to the IRS on or before July 15, it may still be unopened in the backlog of mail the IRS is processing due to COVID-19. The IRS will process your payment with the date the IRS received it. Do not cancel your check, and make sure funds are available for when the IRS processes your payment. I haven’t sent a payment,...

TAS Tax Tip: Important Reminders for October 15 - Extension Filers

Wed, Sep 23, 2020

Most individual taxpayers who filed an extension for their 2019 federal income tax return have until Thursday, October 15 to file. Although October 15 is the last day for most people to file, some taxpayers may have more time. They include: Taxpayers serving in or in support of the Armed Forces in an area designated as a combat zone or contingency operation. They typically have at least 180 d...

Blog de la NTA: El TAS extiende una mano para la Semana Nacional de la Pequeña Empresa

Tue, Sep 22, 2020

Suscríbase al Blog de la NTA y reciba actualizaciones sobre las últimas publicaciones del blog de la Defensora Nacional del Contribuyente Erin M. Collins. Se pueden encontrar blogs adicionales en www.taxpayeradvocate.irs.gov/blog. In English Cada año desde 1963, los Estados Unidos han celebrado la Semana Nacional de la Pequeña Empresa. Este año, quizá...

TAS Tax Tip: COVID-19 Business Tax Relief Tool for Businesses and Tax-Exempt Entities

Mon, Sep 21, 2020

Need relief for employment taxes? Here’s a simple way to find out what your options might be under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and/or the Families First Coronavirus Response Act (FFRCA). What Are the Tax Relief Options? Employee Sick and Family Leave Reimbursement: Eligible businesses (including certain self-employed persons) are entitled to recei...

NTA Blog: TAS Extends a Hand for National Small Business Week

Mon, Sep 21, 2020

Subscribe to the NTA’s Blog and receive updates on the latest blog posts from National Taxpayer Advocate Erin M. Collins. Additional blogs can be found at www.taxpayeradvocate.irs.gov/blog. en Español Each year since 1963, the United States has celebrated National Small Business Week. This year, perhaps more than any other, I recognize and celebrate the importance of small busine...

COVID-19 Business Tax Relief Tool

Tue, Sep 15, 2020

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Reuters News

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Fox Business news

Dow falls 410 points, S&P has broad retreat on stimulus stall

Mon, Oct 19, 2020

Stimulus uncertainty fueled a choppy trading session....

Homebuilder confidence hits record, helped by urban exodus

Mon, Oct 19, 2020

Builders are benefiting from record low mortgage rates and tight supplies....

ConocoPhillips to buy Concho Resources for $9.7 billion

Mon, Oct 19, 2020

Conoco Phillips continues consolidation in the energy patch....

Wall Street looks to regain traction after choppy week of trading

Mon, Oct 19, 2020

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Japanese exports declined at slower pace in September, Finance Ministry reports

Mon, Oct 19, 2020

Country's exports declined 4.9% from year earlier, better than nearly 15% drop in August...

Asian markets kick off week higher on hopes of U.S. fiscal package prior to elections

Mon, Oct 19, 2020

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China passes export-control law following US moves

Sun, Oct 18, 2020

China and the United States have clashed over issues including trade, human rights, technology and the new coronavirus...

Amid tensions with China, India warns Amazon, Flipkart over country of origin rule

Sat, Oct 17, 2020

The Indian government has warned Amazon.com’s local unit and Walmart’s Flipkart that sellers on their platforms are not complying with a rule requiring that a product’s country of origin be specified....

Biden blue wave sends bearish signal to stocks

Sat, Oct 17, 2020

Traders on the prediction market website Predictit are pricing in a 56% chance that Democrats take both houses of Congress as well as the presidency, allowing them to ram through bills including tax increases....

Dark déjà vu for European economy as virus cases spike

Sat, Oct 17, 2020

Bars, restaurants, airlines and myriad other businesses are getting hit with new restrictions as politicians desperately try to contain an increase in infection cases ...

CNN News

Trump's attack on Fauci comes despite the fact that Covid-19 is now rampaging across many of the swing states he must win in 14 days to secure a second term

Tue, Oct 20, 2020

Facts First Hub | Road to 270 | Report voting issues ...

Biden and Trump will have their microphones muted during portions of the second and final presidential debate

Tue, Oct 20, 2020

Facts First Hub | Road to 270 | Report voting issues ...

Tapper: This Fox clip is so gross ... I'm not going to air it

Mon, Oct 19, 2020

CNN's Jake Tapper goes over how parts of the Republican party have embraced the "untethered" conspiracy group QAnon, and discusses "gross and irresponsible" reporting from Fox News with retiring Rep. Francis Rooney (R-FL). ...

Analysis: Why the last presidential debate (still) might not happen

Tue, Oct 20, 2020

On Thursday night at Belmont University in Nashville, Tennessee, President Donald Trump and former Vice President Joe Biden will share a debate stage for the last time before the November 3 election. ...

There's no one left to rein in Trump's reckless rally strategy

Tue, Oct 20, 2020

The last time coronavirus cases were surging in the United States, President Donald Trump pressed his advisers to allow him back on the trail and in front of the massive rally crowds he believes are his political lifeline. ...

Biden leads Electoral College projection poll. See why his campaign is still worried

Mon, Oct 19, 2020

With Joe Biden holding his lead over President Trump in most battleground state polls, CNN's John King breaks down the latest Electoral College projections and compares it to the 2016 election. ...

This is Biden's shortest path to the White House

Tue, Oct 20, 2020

• Analysis: Watch these nine states in the US election • What we don't know about record-breaking early voting numbers ...

A CNN reporter went to two different QAnon events. Here's what he found

Mon, Oct 19, 2020

• Fact check: Trump makes 66 false or misleading claims in 3 days • He went down the QAnon rabbit hole for almost two years. Here's how he got out • Which video is fake? These clues will tell you ...

Jeff Bridges announces he was diagnosed with lymphoma

Tue, Oct 20, 2020

Acclaimed actor Jeff Bridges announced Monday on Twitter that he has been diagnosed with lymphoma. ...

Opinion: My time in the lymphoma club

Thu, Sep 24, 2015

Dear Lloyd, ...

The Wall Street Journal

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