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Daily News

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

CNN Top News

House Judiciary chairman says Mueller's report presents evidence of 'high crimes and misdemeanors' and the President should be held accountable

Sun, Jul 21, 2019

House Judiciary Chairman Jerry Nadler on Sunday said Robert Mueller's report presents "very substantial evidence" that President Donald Trump is "guilty of high crimes and misdemeanors" -- an impeachable offense. ...

Mudd: Here's what Mueller will do if Republicans attack

Fri, Jul 19, 2019

CNN counterterrorism analyst Phil Mudd describes how he thinks his former boss, Robert Mueller, will react in an upcoming House hearing if the GOP attacks his integrity. ...

Opinion: Trump is a dangerous media mastermind

Sun, Jul 21, 2019

The media have spent several days covering the noxious chant -- "Send them back" -- that broke out at President Donald Trump's North Carolina rally. The chant was inspired by a tweet from the President, saying that congresswomen Ilhan Omar, Alexandria Ocasio-Cortez, Ayanna Pressley and Rahida Tlaib should "go back" to the "broken and crime infested places from which they came." ...

Nadler: Evidence Trump 'guilty' of impeachable offense

Sun, Jul 21, 2019

House Judiciary Chairman Jerry Nadler said on "Fox News Sunday" that Robert Mueller's report presents "very substantial evidence" that President Donald Trump is "guilty of high crimes and misdemeanors" -- an impeachable offense. ...

List: The 88 House Democrats calling for impeachment

Thu, Jul 18, 2019

As President Donald Trump has been openly feuding with House Democrats pursuing investigations into him, his administration and his finances, some lawmakers are calling to start an impeachment inquiry, the first step in a lengthy and likely divisive process. ...

What the surprising history of impeachment means for Trump

Sun, Jul 14, 2019

As Democrats try to square growing calls for impeachment proceedings against President Donald Trump with hesitation from party leadership -- and the political reality of a Republican-controlled Senate -- it's worth understanding what's behind the concept of impeachment and why it should or shouldn't apply to Trump. ...

Democrats plot new plan to press Mueller on Trump's alleged crimes

Fri, Jul 19, 2019

House Democrats are intensely preparing a pointed line of questioning for Robert Mueller, banking that his testimony will shift public perception about the President's alleged criminal activity outlined in the special counsel's report, according to Democratic committee aides. ...

Trump makes surprise appearance at wedding reception

Sun, Jul 21, 2019

President Trump popped into a wedding reception at his golf club in Bedminster, New Jersey, on Saturday night, prompting the bride, groom and guests to chant, "USA! USA!" ...

Analysis: How Trump's 2020 reelection strategy could work — but probably won't

Sat, Jul 20, 2019

First things first: The theme song of the week is the theme from The Larry Sanders Show. ...

First on CNN: Respected foreign policy veteran joins Biden campaign

Sun, Jul 21, 2019

Nicholas Burns, a respected, long-time Foreign Service officer who has served in both Republican and Democratic administrations, has joined former Vice President Joe Biden's foreign policy team as a formal adviser, CNN has learned. ...

Taxpayer Advocate Service Feed

Success Story: Taxpayer Advocate Service advocates for alternative approach to expense verification in correspondence audit

Thu, Jul 18, 2019

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’s tax issues. All personal details are removed to protect the taxpayer’s privacy. Audits can be a very scary and daunting task for taxpayers who travel for business. Recordkeeping requirements involve taxpayers keeping...

TAS TAX TIP: Filing Past Due Tax Returns

Fri, Jul 12, 2019

Did you forget to file your 2018 tax return by April 15, 2019? Have you not filed tax returns for several years? If the answer is yes to either, here’s some information to help you catch up with your filing requirements. It’s important to file past due tax returns before the IRS does it for you (see Consequences of Not Filing below). First, figure out if you need to file a federal i...

Advocate Releases EITC Special Report, Taxpayer Journey Roadmap

Wed, Jul 10, 2019

Learn more about the Taxpayers Journey Roadmap: taxpayeradvocate.irs.gov/roadmap. National Taxpayer Advocate Nina E. Olson today released a special report on the Earned Income Tax Credit (EITC), a call to action, with recommendations designed to increase the participation rate of eligible taxpayers and reduce overclaims by ineligible taxpayers. Also today, for the first time ever, th...

NTA Blog: Happy Fourth of July

Wed, Jul 03, 2019

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 So that our staff can enjoy the Independence Day festivities with family and friends, we are taking a break this week from posting our blog. We want to wish everyone ...

NTA Blog: The IRS's Position on the Application of the Religious Freedom Restoration Act to the Social Security Requirement Under Internal Revenue Code ยง 24(h)(7) Has the Effect of Denying Child Tax Credit Benefits to the Amish and Certain Other Religious Groups

Wed, Jun 26, 2019

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 part of the Tax Cuts and Jobs Act (TCJA) passed in December 2017, the Child Tax Credit (CTC) (Internal Revenue Code (IRC) § 24) was amended to require a Socia...

TAS Tax Tip: Use your 2018 return to get 2019 tax withholding right

Tue, Jun 25, 2019

Done with taxes this year? Then use your 2018 return to get your 2019 tax withholding right. It’s very important to have the correct amount of taxes withheld from your paycheck. Use the IRS Withholding Calculator and your 2018 tax return information to adjust your withholdings to ensure you don’t have too little or too much withheld.  Checking and then adjusting tax withholding...

NTA Blog: National Taxpayer Advocate Nina Olson Issues Her Final Report to Congress Today

Thu, Jun 20, 2019

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 Today I am issuing my 37th, and final, Report to Congress as National Taxpayer Advocate. With my pending July 31 retirement creeping ever closer, I have approached th...

National Taxpayer Advocate releases Fiscal Year 2020 Objectives Report

Thu, Jun 20, 2019

The National Taxpayer Advocate released her Fiscal Year 2020 Objectives Report to Congress today. In the report, she addresses key IRS challenges, reviews the 2019 filing season, and identifies TAS’s priority issues for fiscal year (FY) 2020.  Key IRS Challenges Taxpayer Service: The report says poor taxpayer service remains the biggest challenge taxpayers face in dealing with the I...

NTA Blog: Why We Should Repeal the Flora Rule or Find Another Way to Give Taxpayers Who Cannot Pay the Same Access to Judicial Review as Those Who Can (Part 3 of 3)

Wed, Jun 12, 2019

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 Two weeks ago, I discussed how the Flora rule blocks access to judicial review by low income taxpayers and those subject to “assessable penalties.” Last w...

TAS Tax Tip: I got an IRS notice; now what do I do?

Fri, Jun 07, 2019

The IRS will send a notice or a letter for any number of reasons. It may be about a specific issue on your federal tax return or account, explain changes to your account, ask for more information, or request a payment. You can handle most of this correspondence without calling or visiting an IRS office if you follow the instructions in the notice. However, sometimes these communications can be ...