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Daily News

Below please find daily updates pertaining to the latest in financial, business, and tax news:

Taxpayer Advocate Service Feed

NTA Blog: Thanksgiving wishes from the National Taxpayer Advocate

Wed, Nov 22, 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. As we all pause to give thanks at the beginning of this holiday season, I’d like to share with you a few things for which I am grateful. I am thankful to live ...

The 2017 IRS Nationwide Tax Forums a success for TAS

Tue, Nov 21, 2017

Each year, the IRS sponsors the Nationwide Tax Forums, a three-day series of tax education and networking conferences for tax professionals in cities around the country. The 2017 Tax Forums featured the latest information from the IRS, news about tax law changes, a chance to meet with software vendors, and the opportunity to attend seminars presented by IRS and TAS employees in addition to memb...

Success Story: TAS Advocates for Release of Levy due to Hardship

Mon, Nov 20, 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. TAS received an inquiry from a local congressional office for a taxpayer whose bank account had been levied by the IRS after substitute tax returns ha...

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 ...

General Tax Policy

If You Care about Social Security and Medicare, You Should Care about these Tax Bills

The Joint Committee on Taxation, Congressional Budget Office , and Tax Policy Center agree that, without significant changes, the House-passed tax bill (the Tax Cuts......

The Right Way, And The Wrong Way, To Measure the Benefits Of Tax Changes

At the core of the political debate over the Tax Cuts and Jobs Act is an intense and sometimes emotional argument over who benefits. Not......

The House Version Of The TCJA Would Modestly Boost The Economy

The House-passed version of the Tax Cuts and Jobs Act (TCJA) would benefit the economy modestly over the next 20 years but by far less......

Senate Finance Panel Tax Bill Would Trim Taxes At First But Raise Them For Half Of Households By 2027

The Senate Finance Committee’s version of the Tax Cut and Jobs Act would cut taxes by an average of $1,300 in 2019, according to a......

Tax Bills Proceed, Scoreless and Unpopular

“Tax cuts will pay for themselves, believe me.”...

Sorry, Pennsylvania Voters, Your Property Tax Isn’t Going Anywhere

On Election Day, 54 percent of Pennsylvania voters backed a convoluted ballot initiative aimed at ending homeowner’s property taxes. Sounds great, right? Well, unfortunately for......

TCJA Steams Along in the House and Senate

The House passes its version of the TCJA. By a vote of 227 to 205, Republicans advanced a $1.5 trillion tax cut for individuals and businesses....

The House Ways and Means Tax Bill Would Raise the National Debt to 123 percent of GDP by 2037

The Tax Policy Center estimates that the House Ways and Means Committee’s version of the Tax Cut and Jobs Act (TCJA) would increase the ratio......

Repealing The Estate Tax Could Allow Heirs Of The Very Wealthy To Avoid Tax On Capital Gains

he House is expected to vote today to reduce, then repeal the estate tax. The tax currently applies to only about 5,000 of the nation’s......

The House Tax Bill Would Simplify Higher Ed Subsidies, But The Price Would Be Higher Costs For Many

The House Ways & Means Committee version of the Tax Cuts and Jobs Act (TCJA) rightly aims to simplify a complex system of tax subsidies......

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