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Daily News

Below please find daily updates pertaining to the latest in financial, business, and tax news:

Tax News United States

Tax-News.com: US House Passes Mobile Workforce Tax Simplification Bill

Fri, Jun 23, 2017

The US House of Representatives has passed a bill that would stop individual states from imposing income taxes on business travelers who may be otherwise have to comply with tax obligations for undertaking economic activity for as little as one day in another state....

Tax-News.com: IRS Begins Reissuing PTINs Without Charge

Thu, Jun 22, 2017

The Internal Revenue Service has resumed issuing and renewing Preparer Tax Identification Numbers (PTINs) and is no longer charging associated fees....

Tax-News.com: Switzerland Consults On Customs Cooperation With US

Thu, Jun 22, 2017

The Swiss Federal Council has launched a consultation on a proposed administrative assistance agreement with the US that would promote greater customs cooperation. ...

Tax-News.com: Ryan Hopeful US Tax Reform Is Possible This Year

Wed, Jun 21, 2017

In his first major speech on tax reform, Paul Ryan (R - WI) said he expects tax reform to be completed in 2017....

Tax-News.com: Mexico Rules Out Its Own Response To US Tax Reform Plan

Wed, Jun 21, 2017

Mexico's Finance Secretary, Jose Antonio Meade, has said that the country is unlikely to change its tax code in response to "aggressive" US policies, including a potentially sharp reduction in the US corporation tax rate....

Tax-News.com: US Taxpayers' Input Sought On Tax Reform

Tue, Jun 20, 2017

The Senate Committee on Finance has asked for public input on US tax reform options....

Tax-News.com: New Zealand Says United States Open To FTA

Mon, Jun 19, 2017

New Zealand Trade Minister Todd McClay says his visit to Washington DC for high-level trade talks was successful, with the US indicating it is open to a free trade agreement....

Tax-News.com: US Seeks Views On Mexican Sugar Trade Compromise

Fri, Jun 16, 2017

The United States has invited comments on the draft agreement with Mexico, which includes trade-offs agreed in return for the suspension of anti-dumping and countervailing duties on Mexican exports of sugar....

Tax-News.com: Singapore Reaffirms Commitment To Carbon Tax

Thu, Jun 08, 2017

Singapore has reiterated that it intends to implement a carbon tax from 2019....

Tax-News.com: US, New Zealand Agree To Exchange CbC Reports

Wed, Jun 07, 2017

The US Internal Revenue Service has signed a new bilateral arrangement with the New Zealand Inland Revenue to share country-by-country reports on an annual basis....

Taxpayer Advocate Service Feed

Appeals Should Facilitate Mutual Respect and Trust by Allowing Taxpayers a Choice in the Expanded Participation of Counsel and Compliance in Appeals Conferences

Wed, Jun 21, 2017

I have written a lot about my concerns regarding Appeals’ independence over the years. Most recently, in my 2016 Annual Report to Congress, I discussed Appeals’ reluctance to collaborate with taxpayers to design a “Future State” that takes taxpayers’ and tax practitioners’ concerns into account. Now, there is another development in the...

Success Story: TAS helps taxpayer receive timely refund claim

Fri, Jun 16, 2017

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. A taxpayer came to Taxpayer Advocate Service (TAS) in April 2016 for help getting a refund from his 2012 tax return that was filed late. Although the ...

The IRS’s New Passport Program: How Lack of Notice Harms Taxpayers (Part 2 of 2)

Wed, Jun 14, 2017

In my first blog on passport issues, I discussed the importance of providing notice to taxpayers prior to certifying their seriously delinquent tax debts to the Department of State (DOS). Once the IRS makes the certification, the DOS must deny the person’s passport application and it may revoke their passport, except in certain emergency and humanitarian situations. Under the IRS&...

NTA Nina Olson discusses TBOR with Private Debt Collectors

Mon, Jun 12, 2017

The National Taxpayer Advocate reviewed the Taxpayer Bill of Rights with the four private collection agencies selected for the Private Debt Collection program under the Fixing America’s Surface Transportation Act (FAST Act). The National taxpayer Advocate recorded a training video for all employees of the four Private Debt Collection agencies on protecting taxpayer rights under the Ta...

The IRS’s New Passport Program: Why Notice to Taxpayers Matters (Part 1 of 2)

Wed, Jun 07, 2017

In 2015, I wrote a blog post analyzing IRS collection performance, looking at the effects of different drivers of collection such as notices, installment agreements, liens, levies, and refund offsets. Today, I’d like to pick this topic back up, but focus on a collection issue associated with new legislation. In late 2015, Congress passed the Fixing America’s Surface Transpor...

Taxpayers are invited to provide comments on the new IRS.gov Test Homepage – Let Your Voice Be Heard

Tue, Jun 06, 2017

    The IRS is a few months away from launching new look and feel to the IRS’s website (IRS.gov) and you have an opportunity to review the new Homepage about its look, content, and how easily you can find content to answer your tax questions. You can do this through June 30, 2017 by accessing IRS.gov, navigating to Hot Topics and selecting Help us improve o...

Sharing Economy Tax Information

Fri, May 19, 2017

Many taxpayers work or engage in services that are considered to be a part of the gig or shared economy services. These services often originate through peer-to-peer interactions such as ride-share programs, room rentals, and other freelance work. Following the May 2016 hearing, Taxpayer Advocate Service worked with the IRS to create the information contained on the pages listed below to help y...

National Taxpayer Advocate Nina Olson testifies on IRS Reform before the House Ways and Means Subcommittee on Oversight

Fri, May 19, 2017

National Taxpayer Advocate Nina E. Olson testified before the House Ways and Means Subcommittee on Oversight today at a hearing entitled, “IRS Reform: Lessons Learned from the National Taxpayer Advocate.”  Olson cited data showing that building trust with taxpayers correlates with increased voluntary tax compliance and said respecting taxpayer rights is critical to ...

National Taxpayer Advocate Public Forum Transcripts

Thu, May 18, 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, F...

Success Story: TAS assists victims of VITA Site Preparer Fraud

Thu, May 18, 2017

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. The director of a large Volunteer Income Tax Assistance (VITA) site contacted TAS with concerns about refund amounts some of her clients received on t...

Bank Rates

Key mortgage rates mixed for Friday

Fri, Jun 23, 2017

If you're thinking about refinancing, it may be a great time to lock in a rate....

Interest rates show no change on savings, CDs

Thu, Jun 22, 2017

Want to know if you're getting a good rate on your savings and CDs? Take a look at Bankrate's national averages and find out....

Refinance rates move up for Thursday

Thu, Jun 22, 2017

If you're thinking about refinancing, it may be a great time to lock in a rate....

Mortgage rates move up for Thursday

Thu, Jun 22, 2017

If you're thinking about refinancing, it may be a great time to lock in a rate....

Mortgage rates in Dallas

Thu, Jun 22, 2017

See this week's average rates for the 30-year fixed-rate mortgage, 15-year fixed-rate mortgage, 5/1 ARM and 30-year jumbo mortgage in metro Dallas. ...

Mortgage rates in Chicago

Thu, Jun 22, 2017

See this week's average rates for the 30-year fixed-rate mortgage, 15-year fixed-rate mortgage, 5/1 ARM and 30-year jumbo mortgage in metro Chicago. ...

Mortgage rates in Atlanta

Thu, Jun 22, 2017

See this week's mortgage rates in Atlanta for the 30-year fixed, 15-year fixed, 5/1 ARM and jumbo home loans....

Mortgage rates in Washington, D.C.

Thu, Jun 22, 2017

Here are the weekly updated mortgage rates for Washington, D.C., including the 30-year fixed, 15-year fixed, 5/1 ARM and jumbo home loans....

Mortgage rates in Houston

Thu, Jun 22, 2017

See this week's average rates for the 30-year fixed-rate mortgage, 15-year fixed-rate mortgage, 5/1 ARM and 30-year jumbo mortgage in metro Houston....

Mortgage rates in San Francisco

Thu, Jun 22, 2017

See this week's average rates for the 30-year fixed-rate mortgage, 15-year fixed-rate mortgage, 5/1 ARM and 30-year jumbo mortgage in the San Francisco Bay Area....