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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: OECD Releases New Action 14 Peer Review Reports

Fri, Jul 31, 2020

The OECD has released peer review reports reviewing nine territories' progress towards implementing the BEPS Action 14 standard, on improving tax dispute resolution. ...

Tax-News.com: US Businesses Urge Against Starting A Digital Tax 'Trade War'

Fri, Jul 24, 2020

The United States Council for International Business has called on US authorities to focus its efforts on working with other countries to arrive at an international tax solution to the digitalized economy, rather than tackling countries' unilateral responses....

Tax-News.com: J5 Group Marks Two Years Of Collaboration On Tackling Fiscal Crime

Fri, Jul 17, 2020

On July 13, 2020, the US Internal Revenue Service (IRS) issued a progress report on the last two years' work of the J5 group of five advanced countries, who are working collaboratively to tackle cross-border tax fraud....

Tax-News.com: US Announces Tariffs On French Goods In Response To DST

Fri, Jul 17, 2020

The Office of the US Trade Representative has announced that the US will impose additional duties of 25 percent on imports of certain French products from next year in response to the country's decision to introduce a digital services tax. ...

Tax-News.com: US Withdraws From International Digital Tax Talks

Fri, Jul 03, 2020

US Trade Representative Robert Lighthizer told a congressional hearing on June 17, 2020, that the US Government has withdrawn from international negotiations on new global tax rules for digital companies at the OECD. ...

Tax-News.com: IRS Clarifies Tax Treaty References To NAFTA

Thu, May 28, 2020

On May 19, 2020, the United States Treasury Department and the Internal Revenue Service issued an Announcement which clarifies the interpretation of references in US income tax treaties to the North American Free Trade Agreement once it is replaced by the Agreement between the United States, Mexico and Canada. ...

Tax-News.com: US House Passes COVID-19 Stimulus Bill With Tax Measures

Thu, May 28, 2020

On May 15, 2020, the United States House of Representatives approved the HEROES Act, which amends previous COVID-19-related stimulus legislation by changing loss carryback rules and providing further tax support for businesses and individuals. ...

Tax-News.com: France To Press On With Digital Tax

Thu, May 28, 2020

French Finance Minister Bruno Le Maire has said that the Government intends to introduce a digital services tax this year. ...

Tax-News.com: US IRS Sets Out Details Of COVID-19 Tax Breaks

Fri, May 15, 2020

On May 7, 2020, the United States Internal Revenue Service issued a reminder to employers affected by COVID-19 about the tax credits made available to them under the Coronavirus Aid, Relief, and Economic Security Act....

Tax-News.com: Bill Would Exclude US Territories, Possessions From GILTI Regime

Fri, May 15, 2020

On May 4, 2020, a bill was introduced in the United States House of Representatives to limit the impact of the Global Intangible Low Tax Income regime on businesses based in US territories and possessions. ...

Taxpayer Advocate Service Feed

TAS Tax Tip: Avoid Scams Offering Economic Impact Payments

Mon, Aug 03, 2020

Scammers are counting on confusion about the Coronavirus Tax Relief offered to taxpayers who are impacted by the Coronavirus (COVID-19) and Economic Impact Payments (EIPs). Taxpayers should be aware of the numerous scams designed to steal their money and personal information. The Internal Revenue Service (IRS) does not initiate contact with taxpayers to request any personal or financial inform...

NTA Blog: Beginning August 10th, TAS Can Assist with Correcting EIP Amounts for Limited Groups of Taxpayers

Thu, Jul 30, 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. en Español While the IRS has taken extraordinary steps to quickly issue almost 160 million Economic Impact Payments (EIPs) to eligible individuals, many eligible individuals are still waiting ...

Blog de NTA: a partir del 10 de agosto, TAS puede ayudar a corregir los montos de EIP para grupos de contribuyentes limitados.

Thu, Jul 30, 2020

Suscríbase al Blog de la NTA y reciba actualizaciones sobre las últimas publicaciones del blog de la Defensora Nacional del Contribuyente Erin M. Collins. Se pueden encontrar blogs adicionales en www.taxpayeradvocate.irs.gov/blog. In English Aun que el IRS ha tomado medidas extraordinarias para emitir rápidamente casi 160 millones de pagos de impacto económico (EIP...

Tax Pros: Don't Miss the Taxpayer Advocate Service's 2020 Tax Forum Virtual Seminars

Tue, Jul 21, 2020

The 2020 Nationwide Tax Forum is now online. Join the Taxpayer Advocate Service (TAS) and thousands of other tax professionals in this new virtual environment. Earn continuing education credits by attending over 30 online educational seminars presented by IRS employees and members of professional associations. The online sessions feature the latest information from the IRS, news about tax law c...

TAS Tax Tip: Important Reminders for July 15 - Filing and Paying Taxes

Tue, Jul 14, 2020

 Don’t forget: The extended filing and payment deadline for 2019 taxes is Wednesday, July 15. Wednesday, July 15 is also the date when you must re-start any previously suspended payments. Filing 2019 Tax Returns All individual taxpayers and some business taxpayers must file their tax returns and pay any tax due by this Wednesday, if you didn’t already file earlier this year. ...

Blog de la NTA: Protección de los derechos de los contribuyentes que confían en las “Preguntas frecuentes” (FAQ) del IRS

Tue, Jul 07, 2020

Suscríbase al Blog de la NTA y reciba actualizaciones sobre las últimas publicaciones del blog de la Defensora Nacional del Contribuyente Erin M. Collins. Se pueden encontrar blogs adicionales en www.taxpayeradvocate.irs.gov/blog. In English Considere esto: en el curso de la preparación de su declaración de impuestos federales, se pregunta si un gasto particular es...

NTA Blog: Protecting the Rights of Taxpayers Who Rely on IRS “Frequently Asked Questions” (FAQs)

Tue, Jul 07, 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. en Español Consider this: In the course of preparing your federal income tax return, you are wondering whether a particular expense is deductible. You go to the IRS website and find a “F...

National Taxpayer Advocate Erin M. Collins releases her first Objectives Report

Mon, Jun 29, 2020

National Taxpayer Advocate Erin M. Collins has released her first report to Congress, identifying taxpayer challenges arising from the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and the IRS’s implementation of the Taxpayer First Act as priority issues the Taxpayer Advocate Service (TAS) plans to focus on in the coming year. The report also analyzes ...

NTA Blog: Keep an Eye on Your Mailbox: Millions of Backlogged Notices Are Being Mailed Over the Next Few Months, Some Reflect Expired Action Dates. But Don’t Panic, See Inserts Providing Extended Due Dates

Mon, Jun 22, 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. En Español As the country continues to grapple with the COVID-19 emergency, IRS campuses are reopening and employees have begun processing the work backlog, including notices.  During the...

Blog de la NTA: Vigile su buzón: se enviarán por correo millones de avisos pendientes durante los próximos meses, algunos reflejan fechas de acción vencidas. Pero no se asuste, vea los insertos que proporcionan fechas de vencimiento extendidas

Mon, Jun 22, 2020

Suscríbase al Blog de la NTA y reciba actualizaciones sobre las últimas publicaciones del blog de la Defensora Nacional del Contribuyente Erin M. Collins. Se pueden encontrar blogs adicionales en www.taxpayeradvocate.irs.gov/blog. In English A medida que el país continúa lidiando con la emergencia COVID-19, las oficinas del IRS están reabriendo y los emplead...

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