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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: 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. ...

Tax-News.com: Saint Kitts And Nevis Announces Another 'Tax-Free' Budget

Tue, Dec 31, 2019

The Prime Minister of St Kitts and Nevis and Minister of Finance, Timothy Harris, delivered a "tax-free Budget" on December 12, 2019....

Tax-News.com: Canada, Mexico, US Agree Free Trade Deal Amendments

Mon, Dec 16, 2019

Canada, Mexico, and the US have signed an agreement on amendments to their proposed new trade pact. ...

Tax-News.com: IRS Issues Final Foreign Tax Credit Regulations

Fri, Dec 06, 2019

On December 2, 2019, the United States Internal Revenue Service issued final regulations on the foreign tax credit following major changes to the US tax code. ...

Tax-News.com: US Considers Retaliation Against French Digital Services Tax

Fri, Dec 06, 2019

The United States may impose additional duties of up to 100 percent on certain French products in retaliation for France's digital services tax, which a newly published report by the US Trade Representative has concluded discriminates against certain US companies. ...

Taxpayer Advocate Service Feed

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,...

NTA Blog: Holiday Cheer and All the Best in the New Year

Fri, Dec 20, 2019

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. From all of us at Taxpayer Advocate Service to all of you, we wish you much holiday cheer and all the best in the New Year! We’ll be back after the New Year with a fresh round of blog...

NTA Blog: IRS Publication Error May Have Caused Certain Married Taxpayers Filing Separately to Fail to File Required Tax Returns

Fri, Dec 13, 2019

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. TAS’s statutory mission is to resolve problems taxpayers encounter as a result of the way the IRS administers the nation’s tax code. In this blog, I would like to call attention...

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