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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: EU Adds Cayman Isles, Panama, Seychelles To Tax Blacklist

Thu, Feb 20, 2020

The EU has added the Cayman Islands, Palau, Panama, and the Seychelles to its list of non-cooperative tax jurisdictions, bringing the total tally to 12 from 8. ...

Tax-News.com: OECD Provides Update To G20 On BEPS Work

Thu, Feb 20, 2020

In a new report for G20 ministers, the OECD has provided an update on its work to tackle tax base erosion and profit shifting relating to multinational businesses. ...

Tax-News.com: Democrat Bill Targets GILTI High-Tax Exclusion

Thu, Feb 20, 2020

Democrats in the United States Senate have introduced a bill that would block proposals to introduce a "high-tax exemption" to the Global Intangible Low-Tax Income regime. ...

Tax-News.com: France Confirms Postponement Of DST Payments

Thu, Feb 20, 2020

France's Directorate General of Public Finance confirmed in a statement issued on February 10, 2020, that companies liable for the country's digital services tax can delay payment of upcoming installments of the tax until December 2020. ...

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....

Taxpayer Advocate Service Feed

NTA Blog: The Taxpayer Advocacy Panel is now recruiting volunteers

Thu, Feb 20, 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. The Taxpayer Advocate Service (TAS) is your voice at the IRS. We take this statement seriously, as demonstrated by the work we do to help taxpayers resolve their tax problems. We do more th...

Success Story: Taxpayer requests TAS assistance in challenging IRS audit disallowing EITC claim for her disabled child

Wed, Feb 12, 2020

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. TAS advocated for a taxpayer who was audited by the IRS for two consecutive tax years. For numerous years, the taxpayer claimed Head of Household fili...

TAS Tax Tip: IRS 2019 Form 1040 changes for this tax filing season

Mon, Feb 10, 2020

Taxpayers and tax return preparers should be aware that the Form 1040, U.S. Individual Income Tax Return, changed again this year. Before you file a return, take a look at these filing-related resources and information to help you avoid errors and processing delays. Revised 2019 Form 1040 Last year there were six new numbered schedule forms to go with Form 1040; for this year there are three. F...

Acting National Taxpayer Advocate Bridget Roberts talks taxes with Federal News Radio

Thu, Feb 06, 2020

Acting National Taxpayer Advocate Bridget Roberts talks taxes with Federal News Radio host Tom Temin. Roberts discusses IRS challenges and top issues impacting taxpayers. “Everyday we are working to partner more and more with the IRS to try and come up with new and innovative ways to look at issues and solve problems before they impact taxpayers," says Roberts. The number one issue she sh...

NTA Blog: Local Taxpayer Advocates Deliver Key NTA Annual Report Messages to Members of Congress

Thu, Feb 06, 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. This week, TAS’s Local Taxpayer Advocates (LTAs) are in Washington, D.C., presenting the National Taxpayer Advocate’s 2019 annual report to Senators and House Members whose loca...

Sharing Economy Tax Information

Mon, Feb 03, 2020

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...

TAS assistance offered at local Problem Solving Days

Mon, Feb 03, 2020

  The Taxpayer Advocate Service (TAS) will conduct Problem Solving Day events in communities throughout the country in the coming months and year. During these events, TAS employees from a local office will be available to assist taxpayers in person with tax problems they have not been able to resolve with the IRS. Generally, TAS can assist taxpayers whose problems with the IRS are causin...

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...

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