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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: Some Economic Impact Payments are coming as prepaid debit cards in plain envelopes

Thu, May 28, 2020

  The IRS warns taxpayers that their Economic Impact Payments (EIP) may be coming as prepaid debit cards in in plain envelopes from “Money Network Cardholder Services.” The Visa name will appear on the front of the card; the back of the card has the name of the issuing bank, MetaBank®, N.A. So be very careful not to throw the envelope away thinking it is junk mail – ...

TAS Tax Tip: Private Debt Collection Information for Taxpayers

Wed, May 27, 2020

  In an effort to assist taxpayers during the COVID 19 pandemic, the IRS announced the People First Initiative on March 25, 2020. The IRS will not be assigning any new accounts to private collection agencies (PCAs) from April 1 through July 15, 2020. Accounts currently assigned to PCAs will remain there and PCAs may continue contacting taxpayers. As a reminder, taxpayers may request at an...

Alert: Provide your bank account information by noon (ET) on May 13, for faster delivery of the Economic Impact Payment

Tue, May 12, 2020

This is a special alert for taxpayers who did not request direct deposit on tax returns, can provide bank account information by noon Wednesday, May 13  to get payments faster. The Internal Revenue Service (IRS) urged people to use the Get My Payment tool by noon Wednesday, May 13, for a chance to get a quicker delivery of their Economic Impact Payment. In the statement, the IRS advised...

NTA Blog: During Public Service Recognition Week, the National Taxpayer Advocate praises TAS and IRS employees for their extraordinary service to taxpayers and the US tax system

Fri, May 08, 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. As we wrap up Public Service Recognition Week, a week set aside to honor individuals who serve our nation as federal, state, county and local government employees, I want to take a moment to publicly...

NTA Blog: The Value of “Superseding” Returns and Processing the Additional $500 Stimulus Benefit for Certain Non-Filers

Wed, Apr 29, 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. For the IRS, like much of the country, it seems like the focus in recent weeks has been “All COVID, all the time.” The IRS is playing a central role in administering the Coronavirus Aid, ...

TAS Tax Tip: How to request Levies and Liens releases

Fri, Apr 24, 2020

Some taxpayers may need some additional relief during the COVID-19 pandemic from existing federal tax liens and IRS levies on bank accounts, wages or property. IRS describes available relief in the People First Initiative. Taxpayer Advocate Service (TAS) would like to provide some simple instructions for taxpayers to follow, especially in situations causing economic hardship. Levy Releases A l...

TAS Tax Tip: What Steps Do I Need to Take to Get an Economic Impact Payment?

Mon, Apr 20, 2020

   The Economic Impact Payments are automatic for most taxpayers. For most, including seniors and retirees, no further action is needed if they filed a tax return in 2018 or 2019 or received Supplemental Security Income, Social Security retirement benefits, Social Security disability insurance, Veterans Affairs benefits, or Railroad retirement benefits. You can use the IRS’s "G...

How Do I Get an Economic Payment?

Mon, Apr 20, 2020

Visit our Coronavirus (COVID-19) Tax Updates webpage and use the “How Do I Get an Economic Impact Payment” tool. Taxpayers who know they qualify for the Economic Impact Payment can determine what steps, if any, need to be taken to receive their payment. ...

Coronavirus (COVID-19) - TAS Customer Case Related Alerts

Fri, Apr 17, 2020

The Taxpayer Advocate Service (TAS) remains committed to assisting taxpayers and championing their taxpayer rights. The information provided on this page applies only to taxpayers who have open cases with TAS. Updates will be posted here as information changes. Amended Tax Return Updates (5/29/20) If you were instructed by the Taxpayer Advocate Service to write “ICT/IVO” on the top...

TAS Tax Tip: Here’s how you can suspend IRS Installment Agreement payments

Fri, Apr 17, 2020

  The IRS People First Initiative, announced on March 25, gives taxpayers the option to suspend installment agreement payments due through July 15: Existing Installment Agreements – For taxpayers under an existing Installment Agreement, payments due between April 1 and July 15, 2020 are suspended. Taxpayers who are currently unable to comply with the terms of an Installment Payment ...

Reuters News

Exclusive: Zoom plans to roll out strong encryption for paying customers

Sat, May 30, 2020

Video conferencing provider Zoom plans to strengthen encryption of video calls hosted by paying clients and institutions such as schools, but not by users of its free consumer accounts, a company official said on Friday. ...

Google postpones Android 11 unveiling amid U.S. protests

Sat, May 30, 2020

Alphabet Inc's Google on Saturday said it has postponed next week's planned unveiling of the beta version of its latest Android 11 mobile operating system in light of protests and unrest in the United States. ...

Credit Suisse's Rohner sees no big hit from oil & gas exposure: SRF

Sat, May 30, 2020

Credit Suisse will not take a significant hit from its exposure to the battered oil and gas sector, Chairman Urs Rohner told Swiss state broadcaster SRF on Saturday. ...

Lufthansa accepts tweaked demands by Brussels over state bailout

Sat, May 30, 2020

Lufthansa's management board has accepted a more favourable set of demands from the European Commission in exchange for approval of a 9 billion euro ($10 billion) government bailout, the carrier said on Saturday, paving the way for its rescue. ...

U.S. pipeline operator Energy Transfer warns of coming job cuts

Fri, May 29, 2020

U.S. pipeline operator Energy Transfer LP will begin cutting about 6% of its workforce next week, underscoring the spreading impact of weak oil and gas prices on the energy business. ...

Sale of shut Philly refinery to real estate developer delayed

Fri, May 29, 2020

The closing of a $252 million sale of the Philadelphia Energy Solutions (PES) oil refinery to a Chicago-based real estate developer has been delayed, a city official and source with knowledge of the agreement said on Friday. ...

Lyft violates Washington DC sick day law during pandemic, lawsuit claims

Fri, May 29, 2020

Lyft Inc was sued on Friday by a former driver who accused the ride-sharing company of failing to provide required paid sick leave to drivers in Washington, D.C., a policy she said could fuel the spread of the coronavirus. ...

Wall Street Week Ahead: Investors eye consumer discretionary stocks as U.S. reopens

Fri, May 29, 2020

Investors are taking a closer look at the market's consumer discretionary companies as a reopening U.S. economy fuels hopes of a turnaround for some of the sector's hardest-hit names. ...

Wall Street ends mostly higher as U.S.-China spat simmers

Fri, May 29, 2020

U.S. stocks finished mostly higher on Friday after President Donald Trump announced measures against China in response to new security legislation that were less threatening to the U.S. economy than investors had feared. ...

United Airlines cutting 13 top jobs, adding international flights in July

Fri, May 29, 2020

United Airlines Holdings Inc said on Friday it will eliminate 13 officer positions even as it adds international flights back to its network, part of a restructuring to address the hit on its business from the coronavirus pandemic. ...

Fox Business news

Infected workers, parts shortages slow auto factory restarts

Sat, May 30, 2020

The U.S. auto industry’s coronavirus comeback plan was pretty simple: restart factories gradually and push out trucks and other vehicles for waiting buyers in states left largely untouched by the virus outbreak....

China wields currency as weapon with Trump tensions rising

Sat, May 30, 2020

China's currency has dropped below levels that prompted the Trump administration to label Beijing a currency manipulator last year....

SpaceX is an inspiration but US leadership in space is under threat

Sat, May 30, 2020

When two brave American souls lift off from Apollo 11’s historic launch pad on Saturday the feat will mark the first time that the private sector blasts humans into orbit....

Oil: WTI, Brent & the battle for world dominance

Sat, May 30, 2020

The stories of WTI and Brent crude -- each an oil market benchmark -- reflect decades-long shifts in global demand for crude....

United Airlines cutting 13 top exec jobs, adding international flights in July

Fri, May 29, 2020

United Airlines Holdings Inc  said on Friday it will eliminate 13 officer positions even as it adds international flights back to its network....

Pizza Hut, KFC to sell Beyond Meat products at restaurants in China

Fri, May 29, 2020

A KFC trial run of meatless chicken nuggets sold out quickly last month....

Give Trump credit for his realistic approach to an untrustworthy China

Fri, May 29, 2020

Trump's moves on Friday recognized the enduring failure by China’s government to honor commitments....

What is Hong Kong's relationship with China?

Fri, May 29, 2020

Hong Kong became a semi-autonomous region of China after the 1997 handover from Great Britain....

Stocks jump for month as oil posts record gain

Fri, May 29, 2020

Stocks end the week and month higher....

Trump announces new actions against China over Hong Kong, coronavirus

Fri, May 29, 2020

The president said the U.S. will crack down on Chinese companies listed on American exchanges....

CNN News

Protester's message for looters: Something is wrong with you

Sun, May 31, 2020

• Protesters break curfew on another night of demonstrations • Opinion: Somehow things are worse than in 1968 • Object explodes during protest at CNN Center • The protests in photos ...

SpaceX launches astronauts into orbit from US soil for the first time in a decade

Sat, May 30, 2020

• Photos: SpaceX's historic launch • Watch SpaceX and NASA make history • Watch SpaceX's biggest moments ...

Hundreds are arrested. Buildings are ablaze. Tear gas and rubber bullets are flying. The National Guard dispatched across the US.

Sun, May 31, 2020

Los Angeles | Houston | Chicago | Cincinnati | Austin | Philadelphia ...

Video shows George Floyd protests in major cities across the US

Sun, May 31, 2020

For the 5th consecutive night, cities across the US see protesters take to the streets to demonstrate against the death of George Floyd. CNN's Don Lemon takes a look. ...

25 cities across 16 states have now imposed curfews

...

New York City mayor: 'We can't go on like this'

...

George Floyd's brother says Trump 'didn't give me an opportunity to even speak' during phone call

Sun, May 31, 2020

George Floyd's family spoke to both President Donald Trump and former Vice President Joe Biden this week following Floyd's death in Minneapolis, Minnesota. ...

'This is very different than what we saw last night'

...

Escalating violence sends CNN crew on the run

Sun, May 31, 2020

CNN's Omar Jimenez and crew run from tear gas as police confront protesters in Minneapolis. ...

African American congresswoman gets pepper sprayed

Sun, May 31, 2020

Democratic Rep. Joyce Beatty, an African American congresswoman from Ohio, was briefly sprayed with "Mace or pepper spray" in downtown Columbus on Saturday while talking to people protesting the death of George Floyd. ...

The Wall Street Journal

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