Daily News

Tax-News.com: EU To Table A Digital Tax Proposal In October

The European Commission has committed to tabling a proposal for a digital tax in October, whether or not an international agreement surfaces from OECD-led talks on new international tax rules for the world's largest firms....

Tax-News.com: Hong Kong Discusses US Termination Of Shipping Tax Pact

The Hong Kong Government has said it is looking at potential measures to support the shipping industry following the decision by the US Government to terminate the two territories' agreement that exempted shipping industry income from tax....

Tax-News.com: US Lawmakers Approve New Cryptoassets Reporting Rules

The US Senate has approved the inclusion of new provisions in the bipartisan infrastructure bill to require intermediaries involved in cryptocurrency trading to report details about transactions. ...

Tax-News.com: Wyden Takes Aim At US Pass-Through Income Tax Break

Senate Finance Committee Chair Ron Wyden (D-OR) has introduced legislation to overhaul the 20 percent deduction for pass-through income introduced into US tax law in 2017. ...

Tax-News.com: US IRS Flags Deadline For Q2 Estimated Tax Payments

The US Internal Revenue Service has issued a reminder to taxpayers who pay estimated taxes that they have until June 15 to pay their estimated tax payment for the second quarter of tax year 2021 without incurring a penalty....

Tax-News.com: Countries Discuss Post-Pandemic Tax Agenda At UN Council Meeting

Experts speaking at the UN's Economic and Social Council's annual Special Meeting on International Cooperation in Tax Matters concluded that the international community must do more to tackle tax base erosion and profit shifting and offshore tax evasion....

Tax-News.com: US IRS Reminds Of FBAR Filing Obligation

The Internal Revenue Service is reminding US citizens, resident aliens, and any domestic legal entity that the deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is still April 15, 2021....

Tax-News.com: US Tax Season Begins

The Internal Revenue Service launched tax season for individuals on February 15, 2021, highlighting the various supports available for taxpayers when preparing their returns. ...

Tax-News.com: Digital VAT Regimes Vital To Buoy Countries' Tax Takes: Report

The OECD has released its annual Consumption Tax Trends report, which highlights that with VAT rates at an all-time high, governments should ensure they have effective VAT frameworks in place to tax e-commerce. ...

Tax-News.com: BVI Rules Out New Taxes In 2021 Budget

The Government of the British Virgin Islands has announced that it will seek to boost tax collections by modernizing tax administration, not by imposing new taxes. ...

TAS Tax Tip: Advance Child Tax Credit payments: Nov. 29 is last day for families to opt out or make other changes

Updating Advance Child Tax Credit Payment IRS issued a reminder for families collecting advance payments of the Child Tax Credit […] The post TAS Tax Tip: Advance Child Tax Credit payments: Nov. 29 is last day for families to opt out or make other changes appeared first on Taxpayer Advocate Service. ...

NTA Blog: Happy Thanksgiving

NTA Blog: Happy Thanksgiving   This Thanksgiving, as we continue to adjust our work and personal lives, I am reflecting […] The post NTA Blog: Happy Thanksgiving appeared first on Taxpayer Advocate Service. ...

TAS Tax Tip: Did you have an advance payment of the Child Tax Credit issued to you, but did not receive it?

Missing Advance Child Tax Credit Payment Very soon, if you received advance payments of the Child Tax Credit, you will […] The post TAS Tax Tip: Did you have an advance payment of the Child Tax Credit issued to you, but did not receive it? appeared first on Taxpayer Advocate Service. ...

TAS Tax Tip: The IRS incorrectly recorded me as deceased – what should I do?

If your IRS tax account is locked in error because the IRS’s records incorrectly indicate that you or your spouse […] The post TAS Tax Tip: The IRS incorrectly recorded me as deceased – what should I do? appeared first on Taxpayer Advocate Service. ...

NTA Blog: Minimum Competency Standards for Return Preparers Are Crucial Taxpayer Protections

NTA Blog: Minimum Competency Standards for Return Preparers Are Crucial Taxpayer Protections Congress Should Enact Legislation to Protect American Taxpayers […] The post NTA Blog: Minimum Competency Standards for Return Preparers Are Crucial Taxpayer Protections appeared first on Taxpayer Advocate Service. ...

NTA Blog: IRS Initiates New Favorable Offer In Compromise Policies

NTA Blog: IRS Initiates New Favorable Offer In Compromise Policies The IRS has the discretion to accept an offer in […] The post NTA Blog: IRS Initiates New Favorable Offer In Compromise Policies appeared first on Taxpayer Advocate Service. ...

NTA Blog: IRS Delays in Processing Amended Tax Returns Are Impacting TAS’s Ability to Assist Taxpayers

In a previous blog, I highlighted the impact of the IRS’s processing delays and the resulting increase in cases on […] The post NTA Blog: IRS Delays in Processing Amended Tax Returns Are Impacting TAS’s Ability to Assist Taxpayers appeared first on Taxpayer Advocate Service. ...

TAS’s Ability to Help With Delayed Refunds Is Limited

March 25, 2021 TAS’s Ability to Help With Delayed Refunds Is Limited TAS’s Ability to Help With Delayed Refunds Is […] The post TAS’s Ability to Help With Delayed Refunds Is Limited appeared first on Taxpayer Advocate Service. ...

TAS Tax Tip: Resources for Military Personnel and Their Families

Did you know that members of the U.S. Armed Forces can have special tax considerations for both federal and state […] The post TAS Tax Tip: Resources for Military Personnel and Their Families appeared first on Taxpayer Advocate Service. ...

TAS Tax Tip: Don’t fall for it – it’s a scam! Scammers are sending fake IRS emails about Economic Impact Payments

The Federal Trade Commission warns the public about a fake IRS email scam that keeps popping into people’s inboxes. It […] The post TAS Tax Tip: Don’t fall for it – it’s a scam! Scammers are sending fake IRS emails about Economic Impact Payments appeared first on Taxpayer Advocate Service. ...

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