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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 Tax Reform Bills Advanced By Senate Committee, House

Fri, Nov 17, 2017

Both the House of Representatives and the Senate Finance Committee passed their respective US tax reform bills on November 16....

Tax-News.com: IRS Reminds Businesses Of New Jan 31 Filing Deadline

Fri, Nov 17, 2017

The Internal Revenue Service on November 16 issued a reminder to employers and other businesses of the January 31 filing deadline that now applies to filing wage statements and independent contractor forms with the government....

Tax-News.com: Chinese VAT Decision On Animal Feed Welcomed In US

Thu, Nov 16, 2017

China's Ministry of Foreign Affairs has announced that it has been again decided that US distiller's dried grains with solubles should be exempt from the 11 percent value-added tax....

Tax-News.com: Independent Businesses Back Senate's US Tax Reform Plan

Thu, Nov 16, 2017

The National Federation of Independent Business in the United States has said that it "strongly supports" the proposed measures in the Senate's tax reform plan, which would provide tax relief to small businesses....

Tax-News.com: Senate Republicans Attach Obamacare Tax Repeal To Tax Package

Wed, Nov 15, 2017

An amendment has been included in the US Senate's tax reform proposals that will effectively repeal the Affordable Care Act's individual mandate....

Tax-News.com: US Senate Presents A Different Take On Tax Reform

Mon, Nov 13, 2017

The Senate Finance Committee released its tax reform plan on November 9, presenting a draft bill with marked differences to that agreed by the House Ways and Means Committee on the same day....

Tax-News.com: Dassault Responds To Paradise Paper Leaks

Mon, Nov 13, 2017

French aircraft manufacturer Dassault Aviation has issued a statement on its tax arrangements in response to media coverage of the so-called "Paradise Papers."...

Tax-News.com: US House Ways And Means Adopts Tax Reform Law

Fri, Nov 10, 2017

The House Ways and Means Committee has passed the Tax Cuts and Jobs Act after a final markup, including in it a lower tax rate for pass-through income introduced as part of a second package of amendments....

Tax-News.com: IRS Agrees Initiatives To Tackle Big Business Tax Issues

Thu, Nov 09, 2017

The Internal Revenue Service Large Business and International division has announced that it will launch 11 additional compliance campaigns....

Tax-News.com: Peru, Australia To Sign Free Trade Deal

Thu, Nov 09, 2017

Australia and Peru confirmed that they will sign a free trade agreement, in an announcement at the ongoing APEC ministers' meeting....

Taxpayer Advocate Service Feed

2017 Nationwide Tax Forum Seminars available for CPE Credit

Fri, Nov 17, 2017

If you did not attend the 2017 Nationwide Tax Forums this year, it's not too late to earn continuing professional education (CPE) credits. There are 17 interactive, self-study courses now available for view at the IRS Nationwide Tax Forums Online site, including downloadable PowerPoint slides and transcripts for each seminar. Certain courses may be viewed at no cost, allowing you to obtain pert...

NTA Blog: Caring about “Sharing” – The IRS Should Do More for Participants in the Gig Economy

Wed, Nov 15, 2017

Subscribe to the NTA’s Blog and receive updates on the latest blog posts from National Taxpayer Advocate Nina E. Olson. Additional blogs from the National Taxpayer Advocate can be found at www.taxpayeradvocate.irs.gov/blog. In this blog post, I will discuss how the IRS has been dealing with a growing sector of our economy called the “sharing” economy (also known as the gig e...

NTA Blog: IRS Policy Needs to Reflect the Reality of Retirement for Today’s Taxpayers

Wed, Nov 08, 2017

Subscribe to the NTA’s Blog and receive updates on the latest blog posts from National Taxpayer Advocate Nina E. Olson. Additional blogs from the National Taxpayer Advocate can be found at www.taxpayeradvocate.irs.gov/blog. Unlike private creditors, the IRS has wide discretion to exercise its administrative levy powers. Internal Revenue Code (IRC) § 6331(a) says the IRS can general...

NTA Blog: Appeals Should Accept Good-Faith Requests to Review Section 6702 Penalty Abatement Cases

Wed, Nov 01, 2017

Appeals Is Needlessly Turning Away Even Good-Faith Taxpayers Who Seek Administrative Review of Rejected IRC § 6702 Penalty Abatement Requests Subscribe to the NTA’s Blog and receive updates on the latest blog posts from National Taxpayer Advocate Nina E. Olson. Additional blogs from the National Taxpayer Advocate can be found at www.taxpayeradvocate.irs.gov/blog. In last week&rsquo...

Success Story: TAS Successfully Advocates to Remove IRA Rollover Penalty

Thu, Oct 26, 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 IRS penalized a taxpayer for missing the 60-day deadline for rolling over an Individual Retirement Account (IRA). The taxpayer was adamant that th...

All NTA Blog Posts

Thu, Oct 26, 2017

All NTA Blog Posts ...

NTA Blog: IRS Should Identify Potentially Frivolous Positions in the Letters It Mails to Taxpayers

Wed, Oct 25, 2017

The IRS Should Specifically Identify Potentially Frivolous Positions in the Letters It Mails to Taxpayers, So As to Give Them a Better Opportunity to Correct the Positions and Comply with the Tax Laws Subscribe to the NTA’s Blog and receive updates on the latest blog posts from National Taxpayer Advocate Nina E. Olson. Additional blogs from the National Taxpayer Advocate can be found at ...

You can sign up for healthcare insurance coverage starting November 1

Mon, Oct 23, 2017

Are you ready to secure health insurance coverage for 2018? Everyone will have an opportunity to sign-up for health coverage for next year starting on November 1, running through December 15, 2017. Whether you’re ready now or not , the Healthcare.gov website is equipped to help prepare you and direct you where to go for 2018 coverage once the sign-up window opens. Taxpayer Advocate Servic...

Disaster Relief for Taxpayers Affected by California Wildfires

Fri, Oct 20, 2017

Taxpayers affected by the wildfires in California that began October 8, 2017 may qualify for tax relief from the Internal Revenue Service. The President declared that a major disaster exists in the state of California and as of October 16, 2017, the following counties are impacted: Butte Lake Mendocino Napa Nevada Sonoma Yuba Taxpayer who reside or have a business in these counties may qualif...

NTA Blog: Affordable Care Act Estimators - The Taxpayer Advocate Service Provides Self-Help Tools to Assist Taxpayers With Complex Affordable Care Act Requirements

Wed, Oct 18, 2017

Subscribe to the NTA’s Blog and receive updates on the latest blog posts from National Taxpayer Advocate Nina E. Olson. Additional blogs from the National Taxpayer Advocate can be found at www.taxpayeradvocate.irs.gov/blog. With the open enrollment period for the Health Insurance Marketplace beginning November 1st, it is the appropriate time to remind taxpayers and preparers of the vari...

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