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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

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 ...

You can sign up for healthcare insurance coverage starting November 1

Mon, Oct 23, 2017

Are you ready to secure health insurance coverage for 2018? Everyone will have an opportunity to sign-up for health coverage for next year starting on November 1, running through December 15, 2017. Whether you’re ready now or not , the Healthcare.gov website is equipped to help prepare you and direct you where to go for 2018 coverage once the sign-up window opens. Taxpayer Advocate Servic...

Disaster Relief for Taxpayers Affected by California Wildfires

Fri, Oct 20, 2017

Taxpayers affected by the wildfires in California that began October 8, 2017 may qualify for tax relief from the Internal Revenue Service. The President declared that a major disaster exists in the state of California and as of October 16, 2017, the following counties are impacted: Butte Lake Mendocino Napa Nevada Sonoma Yuba Taxpayer who reside or have a business in these counties may qualif...

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