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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: How to Confirm the Identity of a Field Revenue Officer If They Come Knocking at Your Door

Tue, Jan 28, 2020

The Internal Revenue Service (IRS) has begun conducting face-to-face meetings with individual and business taxpayers as a part of a special compliance effort entitled Revenue Officer Compliance Sweep (ROCS). This is an extremely high priority effort where IRS field revenue officers (RO’s) will be working to resolve compliance issues, including missing tax returns and taxes owed, with a s...

TAS Tax Tip: Federal tax return filing options and help

Mon, Jan 27, 2020

Tax return filing season for federal taxes is almost here. The Taxpayer Advocate Service (TAS) has information to help you find tax return filing options and help. Options for Filing a Tax Return Each year, most people who work are required to file a federal income tax return. If you must file, you have two options: Filing a paper tax return, or Filing an electronic tax return (often called el...

TAS Tax Tip: Tax Pro Tips for working with the Taxpayer Advocate Service

Fri, Jan 24, 2020

Whether its during filing season or after, we get lots of questions about when to come to the Taxpayer Advocate Service (TAS), how we can help, and what information you may need to have ready to talk to us when you do need assistance. The following tips will help answer those questions. When to Contact Us The Taxpayer Advocate Service works in two main ways: helping with individual taxpayer pr...

TAS Tax Tip: Before you file that federal tax return: Stop and follow these tips to help avoid unnecessary delays

Fri, Jan 17, 2020

The Taxpayer Advocate Service wants to help you avoid delays this filing season, including refund delays. If you missed attending one of our local events and you prepare your own tax return, whether it’s through software or on paper, STOP and follow these tax tips (English/Spanish), or watch our video, before you file that federal tax return. Be aware of tax software that imports prior y...

NTA Blog: National Taxpayer Advocate Releases Annual Report to Congress and Purple Book

Fri, Jan 10, 2020

Subscribe to the NTA’s Blog and receive updates on the latest blog posts from Acting National Taxpayer Advocate Bridget T. Roberts. Additional blogs can be found at www.taxpayeradvocate.irs.gov/blog. Earlier this week, I submitted to Congress the 2019 Annual Report to Congress and the third edition of the National Taxpayer Advocate’s Purple Book, which presents legislative recomme...

National Taxpayer Advocate Delivers Annual Report to Congress

Wed, Jan 08, 2020

Each year's Annual Report to Congress identifies the ten most serious problems facing taxpayers and offers recommendations to fix them. ...

TAS Tax Tip: Important information you need to know about refunds

Mon, Jan 06, 2020

Planning for a refund this year? Use these tax tips and find out what you need to know and understand about tax refund timing, when you could receive it and why you may only get part or none at all. General Information Different factors can affect the timing of a refund. The IRS and partners in the tax industry continue to strengthen tax security reviews to help protect against identity theft a...

TAS Tax Tip: Wait to receive your W-2 form or other income statements to file your tax return

Mon, Dec 30, 2019

The Taxpayer Advocate Service (TAS) wants to help you be prepared for the tax filing season. One way to avoid tax processing or refund delivery delays is to wait until you’ve received all of your final wage and income statements, such as Forms W-2 or 1099. Why? The IRS checks the income amounts you claim against the forms and information filed by others, like employers. This can include w...

Save the date and attend a free pre-filing season tax tips event in your area, January 13-17, 2020

Fri, Dec 27, 2019

Planning to file your tax return soon? Before you file your 2019 federal tax return, get tax tips from the Taxpayer Advocate Service (TAS) and avoid delays this tax filing season. The Taxpayer Advocate Service is offering pre-filing season events nationwide and in Puerto Rico, during the week of January 13 – 17, 2020. During those events, Local Taxpayer Advocates will share tips to help y...

TAS Tax Tip: See this important information about child and dependent-related tax benefits

Fri, Dec 27, 2019

If you have children or other dependents, and qualify to claim them on your tax return, there are a few things you need to know now, and some you may need to act on before you file your 2019 federal tax return. General Information Child and dependent-related tax benefits are some of the most common claimed on federal tax returns each year. If you don’t know which ones you may qualify for,...

Tax-News.com: France Confirms Digital Tax Delay

Mon, Jan 27, 2020

On January 22, 2020, French Finance Minister Bruno Le Maire confirmed that France will suspend collection of its digital services tax this year to prevent the United States from applying retaliatory tariffs on a range of French goods. ...

Tax-News.com: UK Steadfast On Digital Services Tax Plans

Mon, Jan 27, 2020

The UK Chancellor, Sajid Javid, has said the UK intends to push ahead with the introduction of a digital services tax from April 2020, despite warnings from the US that it would consider tariffs on UK-made goods. ...

Tax-News.com: US Senate Passes New North American Free Trade Deal

Mon, Jan 27, 2020

On January 16, 2020, the US Senate voted to approve the US-Mexico-Canada Agreement, which will replace the existing North American Free Trade Agreement....

Tax-News.com: US State Maryland Considering Digital Advertising Tax

Mon, Jan 27, 2020

On January 8, 2020, a bill was introduced in the Senate of the US state of Maryland that would impose a tax on revenues associated with digital advertising derived in the state. ...

Tax-News.com: IRS Launches Gig Economy Tax Center

Wed, Jan 15, 2020

On January 9, 2019, the United States Internal Revenue Service announced the launch of a new Gig Economy Tax Center, which is intended to help taxpayers meet their tax obligations through more streamlined information. ...

Tax-News.com: France And US Seek End To Digital Tax Dispute

Wed, Jan 15, 2020

According to French Finance Minister Bruno Le Maire, France and the United States will in the next two weeks attempt to reach a compromise over their ongoing dispute regarding France's new digital services tax....

Tax-News.com: USTR Holds Public Hearing On French Digital Tax

Wed, Jan 08, 2020

On January 6, 2020, the United States Trade Representative (USTR) announced that an on-the-record but off-camera public hearing would be held on January 7 on proposed action against France's digital services tax (DST). ...

Tax-News.com: US IRS Updates Virtual Currency FAQs

Wed, Jan 15, 2020

The United States Internal Revenue Service has recently updated its list of frequently asked questions and answers on the tax treatment of transactions involving virtual currencies. ...

Tax-News.com: Tax Extenders Passed In US Spending Package

Mon, Dec 23, 2019

On December 17, 2019, the United States House of Representatives passed a year-end spending package, which includes legislation extending numerous expired and expiring tax provisions, and repealing certain taxes introduced to help fund the Obamacare health care reforms. ...

Tax-News.com: EU Backs 'Accidental Americans' In US Tax Fight

Mon, Dec 23, 2019

In a letter to United States Treasury Secretary Steven Mnuchin, the European Council has expressed concern at the lack of action by the US Government to alleviate the compliance burdens of EU nationals and financial institutions with regards to the US Foreign Account Tax Compliance Act. ...