Below please find daily updates pertaining to the latest in financial, business, and tax news:
CNN Top News
This battleground state has more new US citizens eligible to vote than ever before. Here's what is on their minds as they cast their ballots.Wed, Oct 21, 2020
• They're the backbone of the Democratic Party. They feel the heavy burden of this election • Opinion: If Trump loses, he'll take this deal ...Wed, Oct 21, 2020
As emergency petitions concerning voting rights challenges have raced through the courts in the final weeks of the election, judges and justices have found themselves trying to explain a legal doctrine that was designed to preserve the integrity of the electoral process. ...Wed, Oct 21, 2020
CNN's John Avlon tells us why some prominent GOP members are favoring Joe Biden instead of President Trump for the 2020 US election. ...Wed, Oct 21, 2020
With an unprecedented number of mail-in ballots to count, news organizations will probably exercise extreme caution before declaring a winner on the night of the election. Wall Street, on the other hand, isn't known for its patience. ...Tue, Oct 20, 2020
Retired Navy Adm. William McRaven, the former head of US Special Operations Command who oversaw the successful raid that killed Osama bin Laden, said he is voting for Democratic presidential nominee Joe Biden. ...
Black women are the backbone of the Democratic Party. And they feel the heavy burden of this election.Wed, Oct 21, 2020
Wendy Caldwell-Liddell is in a race against time, all the time. ...Tue, Oct 20, 2020
Donald Trump is the only modern American president to never release any of his tax returns -- either while running for president or during his time in office. He's offered a series of explanations for why that is, including that he is under audit by the Internal Revenue Service and that his taxes are too complicated for anyone to understand. At his town hall with NBC in early October, though, T...Wed, Oct 21, 2020
• New York Times: President Trump has a Chinese bank account • Opinion: If Trump loses, he'll take this deal ...Wed, Oct 21, 2020
• Analysis: Why North Carolina is the most important state to watch on election night • Road to 270: Trump and Biden's paths to a 2020 election victory ...
Taxpayer Advocate Service Feed
Unemployment compensation, including special unemployment compensation authorized under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, must generally be included in gross income. If you are receiving unemployment benefits, the benefits are taxable. Do you know you can have tax withheld so you may not owe when you file your tax return next year? How this may affect you If you...Thu, Oct 15, 2020
Taxpayers have the right to appeal an IRS decision in an independent forum. One way taxpayers may exercise this right is by filing a petition with the United States Tax Court. How do I get to the Tax Court? Receiving a Statutory Notice of Deficiency from the IRS is often referred to as your “ticket” to the Tax Court for a redetermination of liability. If you receive a Statuto...Wed, Oct 14, 2020
Starting now, for tax year 2019 only, Form 1040-X, Amended U.S. Individual Income Tax Return can be filed electronically, though commercial tax-filing software. Please be aware that these cannot currently be e-filed directly through IRS systems. Taxpayers will have to check for tax-filing software companies that offer this option via the Internet. Up until now taxpayers had to mail all Forms 10...Fri, Oct 09, 2020
Non-filers now have until November 21 to register for their Economic Impact Payment (EIP). Eligible individuals, with little or no income and who are not normally required to file tax returns, now have more time to claim an Economic Impact Payment (EIP) using the IRS Non-Filers tool. The tool is designed for U.S. citizens, permanent residents and qualifying resident aliens who have a valid Soc...Tue, Sep 29, 2020
I sent a payment to the IRS. Why did I get a bill? If you mailed a payment to the IRS on or before July 15, it may still be unopened in the backlog of mail the IRS is processing due to COVID-19. The IRS will process your payment with the date the IRS received it. Do not cancel your check, and make sure funds are available for when the IRS processes your payment. I haven’t sent a payment,...Wed, Sep 23, 2020
Most individual taxpayers who filed an extension for their 2019 federal income tax return have until Thursday, October 15 to file. Although October 15 is the last day for most people to file, some taxpayers may have more time. They include: Taxpayers serving in or in support of the Armed Forces in an area designated as a combat zone or contingency operation. They typically have at least 180 d...Tue, Sep 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 Cada año desde 1963, los Estados Unidos han celebrado la Semana Nacional de la Pequeña Empresa. Este año, quizá...Mon, Sep 21, 2020
Need relief for employment taxes? Here’s a simple way to find out what your options might be under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and/or the Families First Coronavirus Response Act (FFRCA). What Are the Tax Relief Options? Employee Sick and Family Leave Reimbursement: Eligible businesses (including certain self-employed persons) are entitled to recei...Mon, Sep 21, 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 Each year since 1963, the United States has celebrated National Small Business Week. This year, perhaps more than any other, I recognize and celebrate the importance of small busine...Tue, Sep 15, 2020
Redirecting you to the COVID-19 Business Tax Relief Tool. ...