Back to top

Daily News

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

Taxpayer Advocate Service Feed

TAS Success Story: TAS Resolves A Tale of Two Investment Claims

Wed, Nov 23, 2022

November 23, 2022  –  Every year the Taxpayer Advocate Service (TAS) helps thousands of people with tax problems. This success […] The post TAS Success Story: TAS Resolves A Tale of Two Investment Claims appeared first on Taxpayer Advocate Service. ...

NTA Blog: Giving Thanks, Giving Tuesday (November 29): Tax Benefits and Charitable Contributions

Tue, Nov 22, 2022

November 22, 2022 – On Thanksgiving, together with my family, I will pause, reflect, and give thanks for the good […] The post NTA Blog: Giving Thanks, Giving Tuesday (November 29): Tax Benefits and Charitable Contributions appeared first on Taxpayer Advocate Service. ...

Tax Pros: Renew your PTIN by Dec. 31, 2022

Mon, Nov 14, 2022

If you prepare or help prepare federal tax returns for compensation, you must have a valid Preparer Tax Identification Number […] The post Tax Pros: Renew your PTIN by Dec. 31, 2022 appeared first on Taxpayer Advocate Service. ...

NTA Blog: Update on IRS Progress in Working Through Its Backlog of Paper-Filed Tax Returns and Correspondence (Part Three)

Thu, Nov 10, 2022

November 10, 2022 -This is Part Three of a blog series on IRS Processing and my recent experience at the […] The post NTA Blog: Update on IRS Progress in Working Through Its Backlog of Paper-Filed Tax Returns and Correspondence (Part Three) appeared first on Taxpayer Advocate Service. ...

NTA Blog: My Recent Kansas City Campus Experience (Part Two)

Wed, Nov 02, 2022

November 2, 2022 – As discussed in Part One, I, together with several other IRS executives, had the honor to […] The post NTA Blog: My Recent Kansas City Campus Experience (Part Two) appeared first on Taxpayer Advocate Service. ...

NTA Blog: My Recent Kansas City Campus Experience (Part One)

Tue, Nov 01, 2022

November 1, 2022 – Earlier this month, I spent a week at the IRS campus in Kansas City helping campus […] The post NTA Blog: My Recent Kansas City Campus Experience (Part One) appeared first on Taxpayer Advocate Service. ...

TAS Tax Tip: File Your 2021 Tax Return to Claim Certain Credits Before Time Runs Out to Use IRS Free File Options!

Fri, Oct 28, 2022

October 28, 2022 – The Taxpayer Advocate Service shares information to help taxpayers claim credits on their 2021 tax returns. […] The post TAS Tax Tip: File Your 2021 Tax Return to Claim Certain Credits Before Time Runs Out to Use IRS Free File Options! appeared first on Taxpayer Advocate Service. ...

TAS Tax Tip: Tax resources for individuals filing a federal income tax return for the first time

Thu, Oct 27, 2022

October 27, 2022 – The Taxpayer Advocate Service shares information to help first-time filers meet their federal tax obligations. Every […] The post TAS Tax Tip: Tax resources for individuals filing a federal income tax return for the first time appeared first on Taxpayer Advocate Service. ...

TAS Tax Tip: Did IRS adjust your charitable contribution deduction?

Wed, Oct 26, 2022

October 26, 2022 – The Coronavirus Aid, Relief, and Economic Security (CARES) Act enacted March 27, 2020, permits taxpayers to […] The post TAS Tax Tip: Did IRS adjust your charitable contribution deduction? appeared first on Taxpayer Advocate Service. ...

TAS Tax Tip: Feel like you are not responsible for a debt owed by your spouse or ex-spouse?

Mon, Oct 17, 2022

October 17, 2022 – If you file jointly and your spouse has a debt (this can be a federal, state […] The post TAS Tax Tip: Feel like you are not responsible for a debt owed by your spouse or ex-spouse? appeared first on Taxpayer Advocate Service. ...

Forbes Taxes

Gifts Can Be Taxed, Even On Thanksgiving

Thu, Nov 24, 2022

At the holidays, many people give gifts or donations, but telling them apart is pretty important for tax purposes....

Divided Congress And Tax Policy: What’s Next?

Wed, Nov 23, 2022

Tax Notes contributing editors Robert Goulder and Joseph J. Thorndike break down the 2022 congressional midterm election results and their potential effects on tax policy....

Will Congress Restore The Tax Incentive For Research Spending?

Tue, Nov 22, 2022

Businesses making investments in research are baffled that the current federal tax law severely limits tax incentives for innovation. Concerns loom over whether Congress will be able to compromise before the negative economic impact sets in....

The Case For Taxing Prison Labor

Tue, Nov 22, 2022

Stephanie Hunter McMahon of the University of Cincinnati College of Law discusses why labor performed by incarcerated workers should be subject to tax....

Conservation Easement Syndicates Outlawyering IRS

Mon, Nov 21, 2022

The IRS is horrible in litigation as their attorneys have no practical valuation experience or understanding. The petitioner attorneys are working them over....

7 Wash Sale Facts To Know Before Selling Stock For Tax Loss Harvesting

Mon, Nov 21, 2022

Harvesting capital losses to offset against capital gains is a popular year-end strategy for taxes. But beware: the IRS rules on wash sales can mess up your tax planning. Here's what you need to know to avoid this tax blunder....

IRS Form 1099-NEC Means Extra Taxes

Mon, Nov 21, 2022

The most common variety is Form 1099-MISC, for miscellaneous income. But the newest one is Form 1099-NEC, and it covers the waterfront for any independent contractor. The IRS likes these forms, which allow computer matching of your Social Security Number against your tax return....

The Look-Through Approach To Sourcing Taxpayer Receipts: Is It Worth The Fuss?

Mon, Nov 21, 2022

Roxanne Bland examines market-based sourcing, and where and how to determine the right market....

How To Plan Now For The Higher 2023 Gift, Estate And GST Exemption

Sat, Nov 19, 2022

Gift, estate and GST exemption amount will be increased in 2023 by an additional $860,000 as a result of the automatic inflation adjustment. What might this mean for your planning?...

After Midterms, Cities Can’t Rely On Congress

Fri, Nov 18, 2022

Republican control of the House means cities can't expect help from a divided Congress. They must look to the executive branch and President Biden's cabinet for the next two years....