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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: Taxpayer Advocate Service’s persistence reduces tax debt

Thu, Nov 08, 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’s tax issues. All personal details are removed to protect the taxpayer’s privacy. Sometimes taxpayers contact TAS for help with one issue and, in resolving that issue, multiple issues arise – some of them quite c...

NTA Blog: When Evaluating its Pilot Program on the Participation of Counsel and Compliance in Conferences, Appeals Should be Transparent and Should Consider Both Objective and Subjective Data

Wed, Nov 07, 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. Over the years, I have expressed significant concern with the continuing erosion of taxpayers’ right to appeal an IRS decision in an independent forum. (IRC &s...

The 2018 Nationwide Tax Forums a Success for TAS

Fri, Nov 02, 2018

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. The 2018 Tax Forums featured the latest information from the IRS, news about tax law changes, a chance to meet with software vendors, and the opportunity to attend seminars presented by IRS and TAS employees in addition to memb...

NTA Blog: Now is the Perfect Time for the IRS to Make Improvements to the Individual Taxpayer Identification Number Program

Wed, Oct 31, 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. For years, I’ve been writing about the problems with how the IRS runs the Individual Taxpayer Identification Number (ITIN) program.  ITINs are required fo...

National Taxpayer Advocate Nina E. Olson honored in Accounting Today’s top 100 list

Wed, Oct 31, 2018

Accounting Today magazine honored National Taxpayer Advocate Nina E. Olson by selecting her for its annual list of Top 100 Most Influential People in Accounting. According to the magazine, the honor is “a clear-eyed assessment by our editors of the individuals who are having the biggest impact on the current state and the future direction of the profession.” As part of its selection...

NTA Special Blog: Taxpayer Advocate Service Launches Tax Reform Website in Spanish

Fri, Oct 26, 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. I’m proud to announce the launch of Cambios en la Reforma de Impuestos, the Spanish-language version of the Taxpayer Advocate Service’s recently launched...

NTA Blog: Form 1023-EZ Now Elicits Additional Information, But It’s Not Clear That IRS Reviewers Are Considering It

Wed, Oct 24, 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. Form 1023-EZ, Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, introduced in the summer of 2014, has been i...

NTA Blog: Announcing the 4th International Taxpayer Rights Conference and Requesting Presentation and Paper Proposals

Wed, Oct 17, 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. I’m pleased to announce the 4th International Taxpayer Rights Conference to be held May 23 and 24, 2019, in Minneapolis, Minnesota, U.S.A. Convened by the Nati...

NTA Blog: The IRS Refuses to Provide Mandatory Employee Training on Taxpayer Rights

Wed, Oct 10, 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. For many years, I urged the IRS to adopt a Taxpayer Bill of Rights (TBOR) and for Congress to add the list of fundamental taxpayer rights to the Internal Revenue Cod...

Nuevo Sitio Web Sobre Cambios en la Reforma de Impuestos que Explica qué está Cambiando y qué no

Thu, Oct 04, 2018

English Puede saber que el Congreso aprobó una importante reforma tributaria en la Ley de Recortes y Empleos (TCJA, por sus siglas en inglés) el 22 de diciembre de 2017. El IRS actualmente está trabajando en la implementación de esta compleja legislación tributaria que afectará tanto a individuos como a empresas. A la luz de la extensa lista de art&iacu...

Reuters News

German transport minister wants to welcome Uber, others by 2021

Sat, Nov 17, 2018

Transport Minister Andreas Scheuer wants to open the German market to car pooling services offered by Uber and other companies by 2021, Focus magazine reported Saturday. ...

Dollar, U.S. yields slide on Fed official rate talk

Fri, Nov 16, 2018

The U.S. dollar weakened and Treasury yields slid on Friday after a top Federal Reserve official said U.S. interest rates were near a neutral rate, while the S&P 500 ended positive after a seesaw session helped by optimism over U.S.-China trade ties. ...

S&P, Dow advance on trade optimism; Nvidia sinks Nasdaq

Fri, Nov 16, 2018

The S&P 500 and Dow Industrials rose on Friday after President Donald Trump said the United States may not have to impose further tariffs on Chinese goods, but falling shares of Nvidia Corp dragged down the Nasdaq. ...

S&P 500 buybacks set another quarterly record: S&P Dow Jones

Fri, Nov 16, 2018

S&P 500 companies have set another record in share repurchases in the third quarter and look on track to break above $200 billion in buybacks for the quarter, according to an S&P Dow Jones Indices analysis. ...

Burke to replace Dungey as ABC Entertainment chief

Fri, Nov 16, 2018

Karey Burke will replace Channing Dungey as president of Walt Disney's ABC Entertainment, the company said on Friday. ...

Trump says U.S. may not impose more tariffs on China

Fri, Nov 16, 2018

U.S. President Donald Trump said on Friday that he may not impose more tariffs on Chinese goods after Beijing sent the United States a list of measures it was willing to take to resolve trade tensions, although he added it was unacceptable that some major items were omitted from the list. ...

Regulator 'stunned and terrified' after causing PG&E stock surge

Fri, Nov 16, 2018

The chief of California's top utilities regulator said on Friday he was shocked to learn that reassurances he made to investors about PG&E caused the embattled power utility's stock to surge over 40 percent in a matter of minutes. ...

PG&E shares surge 40 percent on report regulator wants to avoid bankruptcy from wildfire

Fri, Nov 16, 2018

PG&E Corp shares soared 40 percent in after-hours trade on Thursday following a report that a regulatory official told investors the agency does not want the utility to go into bankruptcy should it be found responsible for this month's deadly wildfire in northern California. ...

Bombardier CEO meets investors as stock dives 20 percent

Fri, Nov 16, 2018

Bombardier Inc's top executives met with investors in Montreal on Friday after a disappointing free cash flow forecast and regulatory action, which sent the plane and train maker's shares down 20 percent, sources familiar with the matter said. ...

Gubitosi seen as favorite to become Telecom Italia CEO: sources

Fri, Nov 16, 2018

Veteran Italian manager Luigi Gubitosi is seen ahead in the race to become the new chief executive of Italy's biggest telecoms group Telecom Italia (TIM) , two sources familiar with the matter said. ...

Fox Business news

Man-made Czech waterways help save carp, a Christmas treat

Sat, Nov 17, 2018

Czechs will have to pay more for their traditional Christmas delicacy this year after a serious drought devastated the carp population this year....

UK leader fights back against critics, defends Brexit deal

Sat, Nov 17, 2018

British Prime Minister Theresa May is fighting back against critics of her Brexit deal, telling her Conservative opponents that their alternative plans for Britain's departure from the European Union wouldn't work....

Facebook says steep rise in data requests from Indian gov't

Sat, Nov 17, 2018

Facebook says there was a steep rise in data requests from India's government in the first half of this year as compared to the previous two years....

French drivers to block roads to protest rising fuel taxes

Sat, Nov 17, 2018

Drivers in France are planning to block roads across the country to protest rising fuel taxes, in a new challenge to embattled President Emmanuel Macron....

Iraq's president visits Iran weeks after US renews sanctions

Sat, Nov 17, 2018

Iraq's president is visiting Iran less than two weeks after the United States restored oil sanctions that had been lifted under the 2015 nuclear deal....

The Latest: Pence meets Taiwan's delegation at APEC summit

Sat, Nov 17, 2018

The Latest on the summit of the Asia-Pacific Economic Cooperation in Papua New Guinea (all times local): 2:40 p.m....

Trio combines for 45, Fairleigh Dickinson tops NYIT 84-57

Sat, Nov 17, 2018

Xzavier Malone, Darnell Edge and Jahlil Jenkins each scored 15 points, Mike Holloway added 14 and Fairleigh Dickinson cruised past the New York Institute of Technology 84-57 Friday night....

China's Xi: World faces choice of confrontation, cooperation

Sat, Nov 17, 2018

China's president says the world faces a choice of cooperation or confrontation in a speech to a summit of leaders that is divided by tensions stemming from increased U.S. protectionism....

North Korea's stable exchange rates confound economists

Sat, Nov 17, 2018

It's a question that nags at North Korea economy watchers: How has the country been able to maintain stable exchange rates — and avert hyper-inflation — despite intense sanctions, political tensions and a swelling trade imbalance?...

Regulators close Maine's shrimp fishery for next 3 years

Sat, Nov 17, 2018

Regulators voted Friday to close the Gulf of Maine winter shrimp season for another three years, raising fears that the fishery decimated by rising water temperatures may never bounce back....

CNN News

California now has the world's most polluted cities. The problem affects northern and central parts of the state

Sat, Nov 17, 2018

Due to the wildfires raging in Northern California, San Francisco, Stockton and Sacramento were the world's three "most polluted cities" on Friday morning, according to Berkeley Earth, a nonprofit that aggregates data from air-quality monitoring sites. ...

Trump: Not raking weeds contributing to fires

Sat, Nov 17, 2018

In an interview with Fox News, President Donald Trump suggests poor land management is more to blame for raging wildfires in California than climate change. ...

More than 1,000 are missing in the Camp Fire

Sat, Nov 17, 2018

[Breaking news update, published at 9:26 p.m. ET] ...

Woman loses home to fire. Last year she lost her mother to a fire

Sat, Nov 17, 2018

A woman still grieving the death of her mother in a California wildfire a year ago is now dealing with a second wildfire tragedy -- the loss of her home in Southern California. ...

See Paradise before and after Camp Fire

Sat, Nov 17, 2018

These images show the extent of devastation from the deadliest and most destructive wildfire in California history. ...

She feels like giving up after the Camp Fire changed her life

Sat, Nov 17, 2018

It took a little more than one week for Whitney Vaughan to fully realize the extent of what had happened. ...

In pictures: Wildfires tear across California

Fri, Nov 16, 2018

Major wildfires in California have destroyed a record number of buildings and displaced more than 300,000 people. ...

Norovirus strikes shelters for evacuees

Fri, Nov 16, 2018

Evacuees who fled the Camp Fire in California are facing norovirus outbreaks in shelters. The Butte County Public Health Department said that 145 people have been sick with vomiting and/or diarrhea since the shelters opened to evacuees and 41 people were experiencing symptoms at four different shelters as of Wednesday evening. ...

Trump knocked her for losing House race. Now she leads

Sat, Nov 17, 2018

Two-term Republican Rep. Mia Love on Friday took the lead over her Democratic challenger in Utah's 4th District House race more than a week after election night and after President Donald Trump mocked her for losing. ...

Ocasio-Cortez calls out journalist who called her 'girl'

Sat, Nov 17, 2018

Alexandria Ocasio-Cortez, the new Democratic representative-elect from New York, seized on a social media smear to show she's not afraid to call out sexism or define herself on her own terms. ...

The Wall Street Journal

Judge Grants CNN's Motion to Restore Jim Acosta's White House Press Pass

Fri, Nov 16, 2018

A federal judge granted an emergency motion to restore the White House press credential of CNN correspondent Jim Acosta—a victory for the network in a closely watched press-freedom case....

Democrat Stacey Abrams Won't Concede, but Says Brian Kemp Will Be Georgia's Next Governor

Sat, Nov 17, 2018

Democrat Stacey Abrams acknowledged Republican Brian Kemp would be the next governor of Georgia, but said she was not conceding....

CIA Concludes Saudi Journalist Was Killed on Crown Prince's Order

Fri, Nov 16, 2018

The CIA has concluded that the killing of Saudi journalist Jamal Khashoggi was carried out under the orders of Saudi Crown Prince Mohammed bin Salman, U.S. officials familiar with the matter said....

A Way for Migrants to Ease U.S. Entry: Come as a Family

Fri, Nov 16, 2018

The number of Central American families with children arriving at the U.S. border seeking asylum has surged, as parents recognize that detention will be shorter if they come as a family. ...

Facing Deadlier Fires, California Tries Something New: More Logging

Fri, Nov 16, 2018

Environmentalists and the timber industry, after long butting heads, increasingly agree that cutting trees to thin forests is vital to reducing fire danger....

Trump's Mueller Answers to Be Filed Next Week

Fri, Nov 16, 2018

Lawyers for President Trump are expected to submit written answers early next week to questions posed by special counsel Robert Mueller, according to a person familiar with the matter....

'I Was Hoping to Be Retired': The Cost of Supporting Parents and Adult Children

Fri, Nov 16, 2018

More Americans find themselves housing two generations simultaneously, just when they thought they could kick back and retire. Instead, they face the strain of added expenses, constant caregiving and derailed dreams. ...

New York City and New Jersey Take Heat Over Response to Snowstorm

Fri, Nov 16, 2018

Officials faced heavy criticism after a snowstorm wreaked havoc on roads, leaving schoolchildren stranded on buses, crippling commuter routes home and contributing to thousands of motor-vehicle accidents. ...

House Democrats to Step Up Probe of Trump-Russia Ties

Fri, Nov 16, 2018

House Democrats said they want to learn more about a deceased GOP activist who sought Hillary Clinton’s private emails, and whether he served as a conduit between the Trump campaign and Russia-tied groups in 2016. ...

Grassley to Lead Senate Finance Panel

Fri, Nov 16, 2018

Sen. Chuck Grassley is expected to lead the Finance Committee next year, giving the veteran Iowa Republican more sway over tax, trade and health policy....