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Daily News

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

CNN Top News

Legally, the Supreme Court ruling is very bad for Trump. Politically, not so much.

Thu, Jul 09, 2020

Legally, Thursday was a very bad day for Donald Trump -- as the Supreme Court ruled against his efforts to block the turning-over of his financial documents to a New York grand jury, which could lead to major problems for him once he leaves office. ...

Trump loses battle on financial records, but Supreme Court ruling buys him time

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SCOTUS rules broad swath of Oklahoma is Native American land

Thu, Jul 09, 2020

The Supreme Court said Thursday that a large swath of eastern Oklahoma, including Tulsa, is Native American land for purposes of federal criminal law in a decision that the state argued could call into question thousands of state prosecutions for serious crimes. ...

Historian: This is a very dark day for Donald Trump

Thu, Jul 09, 2020

CNN's Poppy Harlow speaks to historian Douglas Brinkley about the Supreme Court's latest ruling on President Donald Trump's financial records and how this could impact his future as a presidential candidate. ...

What House Democrats are saying

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Analysis: The 1 big thing Trump still doesn't get about SCOTUS

Thu, Jul 09, 2020

President Donald Trump sees the world in a very black-and-white way: There are people who love him and people who don't. Or, put another way: There are people who are loyal to him and those who are always out to get him. ...

Opinion: Just how far will Clarence Thomas go?

Wed, Jul 08, 2020

"I would have gone further." ...

Collins: Trump is going off on this decision on Twitter

Thu, Jul 09, 2020

CNN's Kaitlan Collins reports on President Donald Trump's Twitter response to the Supreme Court's decisions on his financial records, including one that said Trump is not immune to a New York prosecutor's subpoena. ...

The efficiency of coronavirus transmission is 'really striking,' Fauci says

• CDC won't revise school guidelines despite White House push • Coronavirus hot spots should pause reopening, not shut down again, Fauci now says • UC Berkeley ties dozens of new coronavirus cases to campus Greek parties • Pandemic could cause wave of brain damage, scientists warn ...

'Glee' actress Naya Rivera is missing at a lake in California

Thu, Jul 09, 2020

• Demi Lovato, 'Glee' costars and other celebs praying for Naya Rivera's safety ...

Taxpayer Advocate Service Feed

Blog de la NTA: Protección de los derechos de los contribuyentes que confían en las “Preguntas frecuentes” (FAQ) del IRS

Tue, Jul 07, 2020

Suscríbase al Blog de la NTA y reciba actualizaciones sobre las últimas publicaciones del blog de la Defensora Nacional del Contribuyente Erin M. Collins. Se pueden encontrar blogs adicionales en www.taxpayeradvocate.irs.gov/blog. In English Considere esto: en el curso de la preparación de su declaración de impuestos federales, se pregunta si un gasto particular es...

NTA Blog: Protecting the Rights of Taxpayers Who Rely on IRS “Frequently Asked Questions” (FAQs)

Tue, Jul 07, 2020

Subscribe to the NTA’s Blog and receive updates on the latest blog posts from National Taxpayer Advocate Erin M. Collins. Additional blogs can be found at www.taxpayeradvocate.irs.gov/blog. en Español Consider this: In the course of preparing your federal income tax return, you are wondering whether a particular expense is deductible. You go to the IRS website and find a “F...

National Taxpayer Advocate Erin M. Collins releases her first Objectives Report

Mon, Jun 29, 2020

National Taxpayer Advocate Erin M. Collins has released her first report to Congress, identifying taxpayer challenges arising from the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and the IRS’s implementation of the Taxpayer First Act as priority issues the Taxpayer Advocate Service (TAS) plans to focus on in the coming year. The report also analyzes ...

NTA Blog: Keep an Eye on Your Mailbox: Millions of Backlogged Notices Are Being Mailed Over the Next Few Months, Some Reflect Expired Action Dates. But Don’t Panic, See Inserts Providing Extended Due Dates

Mon, Jun 22, 2020

Subscribe to the NTA’s Blog and receive updates on the latest blog posts from National Taxpayer Advocate Erin M. Collins. Additional blogs can be found at www.taxpayeradvocate.irs.gov/blog. En Español As the country continues to grapple with the COVID-19 emergency, IRS campuses are reopening and employees have begun processing the work backlog, including notices.  During the...

Blog de la NTA: Vigile su buzón: se enviarán por correo millones de avisos pendientes durante los próximos meses, algunos reflejan fechas de acción vencidas. Pero no se asuste, vea los insertos que proporcionan fechas de vencimiento extendidas

Mon, Jun 22, 2020

Suscríbase al Blog de la NTA y reciba actualizaciones sobre las últimas publicaciones del blog de la Defensora Nacional del Contribuyente Erin M. Collins. Se pueden encontrar blogs adicionales en www.taxpayeradvocate.irs.gov/blog. In English A medida que el país continúa lidiando con la emergencia COVID-19, las oficinas del IRS están reabriendo y los emplead...

TAS Tax Tip: Understanding upcoming filing and payment due dates for individual taxpayers

Tue, Jun 16, 2020

  Most federal tax return filing and payment deadlines are postponed from April 15 to July 15, 2020. These postponements are automatic and apply to all taxpayers. You do not need to file any additional forms or call the IRS to qualify, unless you need an extension to file beyond the July 15. To help individual taxpayers better understand exactly what this all means, for the Form 1040 file...

TAS Tax Tip: Spread the word & help millions of qualified homeless and low-income families receive their Economic Impact Payment

Thu, Jun 11, 2020

 Many Americans who qualify for an Economic Impact Payment (EIP) are not aware of, and may potentially miss out on, this economic assistance under the CARES Act. While many taxpayers do not need to take action in order to receive any EIP to which they are entitled, there are other taxpayers who will need to take some action in order to receive an EIP. Thus, the IRS needs your help to sprea...

TAS Tax Tip: Certain Medicaid Waiver Payments May Be Excludable From Income

Mon, Jun 01, 2020

  Information is available on how to take account of Medicaid waiver payments when determining the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC). See Publication 596, Earned Income Credit (EIC), for more information or use the IRS’ interactive EITC Assistant, which is also in Spanish (Asistente EITC). See the 2019 Instructions for Schedule 8812 for more ...

TAS Tax Tip: Some Economic Impact Payments are coming as prepaid debit cards in plain envelopes

Thu, May 28, 2020

 The IRS warns taxpayers that their Economic Impact Payments (EIP) may be coming as prepaid debit cards in plain envelopes from “Money Network Cardholder Services.” The Visa name will appear on the front of the card; the back of the card has the name of the issuing bank, MetaBank®, N.A. So be very careful not to throw the envelope away thinking it is junk mail – open ...

TAS Tax Tip: Private Debt Collection Information for Taxpayers

Wed, May 27, 2020

  In an effort to assist taxpayers during the COVID 19 pandemic, the IRS announced the People First Initiative on March 25, 2020. The IRS will not be assigning any new accounts to private collection agencies (PCAs) from April 1 through July 15, 2020. Accounts currently assigned to PCAs will remain there and PCAs may continue contacting taxpayers. As a reminder, taxpayers may request at an...