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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

2018 Tax Forums will feature TAS seminars, Case Resolution Program

Fri, Apr 20, 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. 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...

Success Story: TAS Successfully Advocates for Taxpayer Subjected to Repetitive Audits

Thu, Apr 19, 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 issues. All personal details are removed to protect the privacy of the taxpayer. TAS assisted a taxpayer who had been audited for tax years 2013-2015. The taxpayer received notification of audit on his 2016 return for the same issu...

IRS provides additional day through Wednesday, April 18 to file and pay your 2017 taxes

Wed, Apr 18, 2018

Yesterday, the IRS experienced system issues and was unable to accept tax returns.  The processing systems are back online today. The IRS announced it will provide an additional day to file your federal income tax return and pay your balance due.  If your 2017 tax return was due on April 17, 2018, you now have until today, Wednesday, April 18 to timely file and pay your 2017 federal t...

NTA Blog: What’s wrong with IRS user fees?

Wed, Apr 18, 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. The IRS has been increasing user fees to fund its operations. It recently increased or proposed to increase a wide range of fees including the fees for installment a...

National Taxpayer Advocate Nina Olson testifies on Oversight before several House Subcommittees

Tue, Apr 17, 2018

National Taxpayer Advocate Nina E. Olson testified before the House Subcommittee on Health Care, Benefits, and Administrative Rules and Subcommittee on Government Operations Committee on Oversight and Government Reform on Oversight today at a hearing entitled, “Continued Oversight Over the Internal Revenue Service.” The following is an excerpt from her written testimony: Thro...

NTA Blog: The IRS Can Do a Better Job Providing Military Taxpayers With Accurate and Up-to-Date Information About Tax Issues They Are Facing

Wed, Apr 11, 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. As we near the end of the 2018 filing season, it is worth reflecting on the challenges taxpayers face in complying with complex tax law provisions. In my 2017 Annual...

Colloquium on Tax and the Sharing Economy at Villanova University

Tue, Apr 10, 2018

National Taxpayer Advocate Nina Olson spoke to law students at Villanova University at an event sponsored by the Tax Law Society and the Women’s Law Caucus. A Pennsylvania native, Ms. Olson spoke about her unorthodox career path as a private practitioner, business-owner, social entrepreneur and public advocate. The following day, Nina Olson participated in a colloquium on Tax and the Shar...

Success Story: TAS Helps Disabled Veteran Receive Portions of Her Refunds from Three Years

Thu, Apr 05, 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 issues. All personal details are removed to protect the privacy of the taxpayer. While participating in a Veterans’ Stand Down event, a married couple, both whom are disabled veterans, approached TAS employees about a tax pro...

NTA Blog: A Digital “Mailbox Rule” Is Required As the IRS Steers Taxpayers Toward Self-Help Digital Tools

Wed, Apr 04, 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. As the IRS steers taxpayers toward self-help digital tools, it is necessary to bring the “statutory mailbox rule” into the 21st century. Currently, the s...

NTA Blog: An Analysis of Tax Settlement Programs as Amnesties: A Discussion of Belated Alternatives to the Offshore Voluntary Disclosure Program and Recommendations for Further Improvements (Part 3 of 3)

Fri, Mar 30, 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. In the first blog in this series we discussed how those who participate in amnesties also tend to be people who made inadvertent errors, that is, “benign&rdquo...

Tax-News.com: German Industry Cautions Against EU Digital Tax

Thu, Apr 19, 2018

The Federal Association of German Industry has said that proposals for a tax on digital companies will be detrimental to the European economy and exacerbate trade tensions between Europe and the United States....

Tax-News.com: Guam To Launch Tax Amnesty

Tue, Apr 17, 2018

The Government of Guam, a US territory located in the Pacific, has announced proposals for a temporary tax amnesty program....

Tax-News.com: US House Lawmakers Considering IRS Overhaul

Fri, Apr 13, 2018

The Ways and Means Committee of the US House of Representatives considered bills to overhaul the Internal Revenue Service (IRS) and strengthen taxpayer protections at its recent markup session....

Tax-News.com: Global Tax, Trade Policies Could Dent Ireland's Growth Potential

Tue, Apr 17, 2018

The Central Bank of Ireland has identified the changing global tax and trade landscapes and Brexit as potential risks for Ireland's economy....

Tax-News.com: US Supreme Court To Begin Review Of Quill Decision April 17

Thu, Apr 12, 2018

The US Supreme Court is to hear arguments on whether states should be allowed to tax online retailers not based within a state's borders, in South Dakota v. Wayfair, on April 17, 2018. ...

Tax-News.com: IRS Explains How To Calculate Transition Tax Liability

Thu, Apr 12, 2018

The US Internal Revenue Service and the Department of the Treasury have released comprehensive guidance on how to calculate liability to the Transition Tax, provided for in Section 965 of the Tax Cuts and Jobs Act, and explained elections available to taxpayers....

Tax-News.com: Canadian Business Confidence Knocked By US Tax Changes

Thu, Apr 12, 2018

The Bank of Canada has published the findings of its latest business outlook survey, which shows some concern among firms over the impact of US trade and tax policies. ...

Tax-News.com: Australia 'Exempt From US Metal Tariffs'

Fri, Apr 06, 2018

The Australian Government has secured an exemption from new US metal tariffs, Trade Minister Steven Ciobo has said. ...

Tax-News.com: Luxembourg Vulnerable To International Tax Developments, Says IMF

Wed, Apr 04, 2018

International tax developments could have a negative impact on Luxembourg's tax revenues and economy, the International Monetary Fund has said in its latest Luxembourg country report....

Tax-News.com: IRS Reports Uptick In Advance Pricing Agreements

Fri, Apr 06, 2018

The US Internal Revenue Services has released its annual report on the number of advance pricing agreements and applications and made during the 2017 calendar year....