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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

National Taxpayer Advocate Public Forum Transcripts

Thu, Mar 23, 2017

"[You] ask people, okay, if you had the choice between trying to find the answer to a government question online, yourself, or just picking up the phone and calling somebody, which would you prefer? Sixty percent of people say they prefer to pick up the phone, including half of millennials."  — Rick Parrish, Senior Analyst serving Customer Experience Professionals, Forrester...

2nd International Conference on Taxpayer Rights takes place in Vienna, Austria

Thu, Mar 23, 2017

  National Taxpayer Advocate Nina E. Olson convened the 2nd International Conference on Taxpayer Rights in Vienna, Austria on March 13 and 14. Hosted by the Institute for Austrian and International Tax Law at the Vienna University of Economics and Business, the conference brought together the world’s foremost experts in tax law and tax administration to discuss the most pressing iss...

National Taxpayer Advocate offers up solutions to four common tax issues

Wed, Mar 08, 2017

National Taxpayer Advocate Nina E. Olson recently sat down with Yahoo! in their New York office to discuss some of the most common issues taxpayers face when navigating America’s tax system. She shared four common problems taxpayers face when either contacting the IRS or just trying to pay their taxes, and offered her insights as to just how taxpayers can solve some of these thorny issues...

Tax Scams: Don’t be fooled

Mon, Mar 06, 2017

Don’t be fooled by scammers pretending to be the IRS. Scammers target taxpayers and tax professionals each year in growing numbers. Oftentimes a scammer will contact you by telephone and alter the caller identification to make it look like the IRS or another official agency is calling. The IRS will not call you if you owe taxes without first sending you a notice in the mail. Scammers may...

Important News: Some 2016 refunds won’t be released until after February 15

Mon, Feb 06, 2017

One of the biggest changes for taxpayers claiming the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC) on federal tax returns for tax year 2016 is that any credit or refund will not be released until on or after February 15. This is just one of many changes made under the Protecting Americans from Tax Hikes (PATH) Act of 2015, enacted December 18, 2015. Individual taxpa...

Learn about claiming the Earned Income Tax Credit, and help spread the word!

Tue, Jan 17, 2017

The Earned Income Tax Credit (EITC) puts money in the hands of hard-working taxpayers and can be a significant financial boost for individuals, their families, and local communities. It can return as much as $6,269 to families earning less than $53,505. IRS esti­mates that only four of five eligible workers claim and get their EITC. The one-fifth eligible worker could be you, your neighbor,...

National Taxpayer Advocate Releases Annual Report to Congress focusing on a taxpayer-centric Future State that improves voluntary tax compliance

Tue, Jan 10, 2017

National Taxpayer Advocate Nina E. Olson recently released her 2016 Annual Report to Congress recommending that the IRS revamp its “Future State” plan to adopt a taxpayer-centric focus, and urging Congress to emphasize simplification when it considers tax reform later this year.In this report, the National Taxpayer Advocate details her vision for a taxpayer-centric 21st century tax ...

Do you have everything you need before you file a federal tax return this year?

Tue, Dec 20, 2016

There are several changes that might require some up-front actions by you, so that you are ready to file your federal tax return this coming year. The IRS has provided a listing titled Get Ready on Reviewing this list now can help you avoid return processing delays or last minute scrambles for information you will need to prepare your return. Number one on that list is Individual Taxpa...

The 2nd International Conference on Taxpayer Rights convenes in Vienna, Austria March 2017

Fri, Dec 16, 2016

The second International Conference on Taxpayer Rights will be held in Vienna, Austria, on March 13-14, 2017. The conference will be hosted by the Institute for Austrian and International Tax Law at WU (Vienna University of Economics and Business) and sponsored by Tax Analysts. The conference is convened by National Taxpayer Advocate Nina Olson of the U.S. Internal Revenue Service’s Taxpa...

The 2016 IRS Nationwide Tax Forums a huge success for TAS

Wed, Dec 14, 2016

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 2016 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 members ... IRS To Provide Expedited Audit Mediation For Small Businesses

Wed, Mar 22, 2017

The Internal Revenue Service has released a new revenue procedure that creates a fast-tracked method for small businesses and self employed persons to engage with the IRS to resolve disputes.... EU Trade Chief Promotes Benefits Of Canada Trade Deal

Tue, Mar 21, 2017

EU Trade Commissioner Cecilia Malmström has described the Comprehensive Economic and Trade Agreement with Canada as "the most ambitious and progressive [deal] we have ever struck."... Germany Threatens WTO Action Over Border Adjustment Tax

Mon, Mar 20, 2017

German Economy Minister Brigitte Zypries has said Germany could begin legal action against the US if the Border Adjustment Tax is introduced.... Obamacare Repeal House Vote Scheduled For March 23

Mon, Mar 20, 2017

The US House of Representatives will vote on the American Health Care Act on March 23, House Speaker Paul Ryan told Fox News Sunday.... Business Leaders Expect US Tax Reform Delay

Fri, Mar 17, 2017

Business leaders are skeptical of predictions that US tax reform will come by this summer, with more than half (53 percent) of respondents predicting that significant business tax reform won't arrive until 2018, according to a recent poll by KPMG.... German Manufacturers Unconcerned At US Border Taxes

Fri, Mar 17, 2017

Most German manufacturers exporting to the United States will not shift production to the US as a result of the imposition of new border taxes, according to a survey by the Ifo Institute.... IRS Offers Storm-Hit Firms More Time To Request Filing Deferral

Thu, Mar 16, 2017

The Internal Revenue Service has granted those businesses affected by Winter Storm Stella additional time to request a six-month extension to file their 2016 federal income tax returns.... Canada's Trudeau Concerned About US Border Adjustment Tax Plan

Wed, Mar 15, 2017

Canadian Prime Minister Justin Trudeau has expressed his concern over proposals for a US border adjustment tax. ... Mexico Rules Out Near-Term Tax Reforms

Wed, Mar 15, 2017

Mexico lacks the fiscal space to bring about tax reform to buoy the economy, Secretary of Finance and Public Credit Jose Antonio Meade has said, discussing the potential impact of US tax policy decisions. ... 'Trumpcare' Could Leave 24 Million Taxpayers Uninsured

Tue, Mar 14, 2017

24 million people would no longer have subsidized health insurance by 2020 if the American Health Care Act is enacted in its current form, according to a new report from the Congressional Budget Office....