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Daily News

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

Reuters Money

Investors at Smith & Wesson parent support call for gun safety report

Tue, Sep 25, 2018

Investors at American Outdoor Brands Corp approved a call for the gun maker to produce a safety report, officials said during its annual meeting on Tuesday, marking a second win for religious... ...

S&P lowers outlook on Danske Bank to negative

Tue, Sep 25, 2018

S&P Global Ratings said on Tuesday it revised downward its outlook on Danske Bank to negative from positive to reflect the ongoing regulatory investigations into the company's Estonian branch. ...

U.S. business borrowing for equipment jumps 14 percent in August: ELFA

Tue, Sep 25, 2018

Borrowing by U.S. companies to spend on capital investments rose 14 percent in August from a year earlier, a trade group representing capital equipment lenders said. ...

Elliott to inject 120 million euros into AC Milan to reimburse bonds: source

Tue, Sep 25, 2018

U.S. hedge fund Elliott Management will inject 120 million euros ($141 million) into the coffers of Italian soccer club AC Milan to reimburse two bonds, a source said on Tuesday. ...

Your Money: What another U.S. interest rate rise means for you

Tue, Sep 25, 2018

If you have credit card debt, take the next U.S. Federal Reserve move to raise interest rates as a big, flashing warning sign. ...

Whistleblower tipped off GAM to director's behavior

Tue, Sep 25, 2018

GAM Holding said its decision to suspend a director in charge of absolute return bond funds in July, which triggered an investor exodus and a sharp fall in the company's shares at the time, was... ...

Column: Hedge funds, smelling Brexit blood, circle sterling

Mon, Sep 24, 2018

Hedge funds are betting big against sterling, the most since May last year. And following last week's Brexit debacle in Salzburg, that bet will probably be even bigger now, closing in on the largest... ...

Activist hedge fund TCI cuts stake in London Stock Exchange

Mon, Sep 24, 2018

Activist hedge fund TCI has cut its stake in London Stock Exchange Group Plc, less than a year after its push to oust the stock exchange's chairman failed. ...

Putnam stares down hedge funds on big shopping mall bet

Fri, Sep 21, 2018

Putnam Investments has placed a large, concentrated bet that struggling U.S. shopping malls can transform themselves even as key tenants shut stores or file for bankruptcy. ...

Paulson launches alliance to seek better returns in gold sector

Fri, Sep 21, 2018

Long-time gold bull John Paulson followed through on Friday on a pledge made last year to team up with other gold investors in an effort to work with management of companies in the gold sector to... ...

The Tax Adviser

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Taxpayer Advocate Service

NTA Blog: TAS Research Shows that Education Improves EITC Compliance

Thu, Sep 20, 2018

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. Recently, the IRS provided its response to my Most Serious Problem addressing EITC issues in the 2017 Annual Report to Congress. I want to reiterate my recommendatio...

Get information on TAS office closures related to Hurricane Florence

Mon, Sep 17, 2018

The Taxpayer Advocate Service temporarily closed some offices due to Hurricane Florence. The following offices in South Carolina and North Carolina will resume regular business operation hours on Tuesday, Sept. 18:  Charlotte, North Carolina Greensboro, North Carolina Columbia, South Carolina For a listing of all TAS offices, visit our Contact Us page....

NTA Blog: The IRS Might Recover EITC Using Its Newly Discovered Post-Processing Math Error Authority, but Is It Constitutional?

Thu, Sep 13, 2018

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. My June Report to Congress included an Area of Focus entitled: “The IRS Has Expanded Its Math Error Authority, Reducing Due Process for Vulnerable Taxpayers, W...

Help us spread the news about our new Tax Reform Changes website

Tue, Sep 11, 2018

Is your business or association involved in helping others understand federal income taxes and the ramifications of changes to those laws each year? If yes, we invite you to visit our new site and then help us spread the word about the Taxpayer Advocate Service's Tax Reform Changes website. After your visit, we think you’ll see the value it might have for those in the tax community and ev...

NTA Blog: As a Result of TAS Advocacy, the IRS is Working to Address a Computer Glitch That Allowed Collection Activity on Accounts with Expired Collection Statute Expiration Dates but Many Issues Remain Unresolved

Fri, Sep 07, 2018

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. About two years ago, TAS received cases where either the taxpayer or the Power of Attorney (POA) correctly questioned the validity of a collection statute expiration...

New tax law brings changes to tax withholding for 2018; here’s what you need to know

Fri, Aug 31, 2018

Major tax reform was approved by Congress in the Tax Cuts and Jobs Act (tax reform) on Dec. 22, 2017. One change directly affected the rate at which taxes are withheld from paychecks. Our federal income tax is a pay-as-you-go tax system and there are two ways to pay as you go, either through withholding or estimated tax payments. Note: For more information on what other items changed or didn&rs...

NTA Blog: The Systemic First Time Abatement Policy Currently Under Consideration by the IRS Would Override Reasonable Cause Relief and Jeopardize Fundamental Taxpayer Rights

Wed, Aug 29, 2018

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. The IRS offers a First Time Abatement (FTA) program that is intended to be, and often is, taxpayer-favorable. Nevertheless, as currently implemented, the FTA sometim...

NTA Blog: TAS Cases Demonstrate the Harm Caused by IRS Policies on Passport Certification

Wed, Aug 22, 2018

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. My last blog on passport issues discussed the IRS’s continued refusal to exclude already open TAS cases from passport certification and my efforts to advocate ...

NTA Blog: IRS Administration of the Section 965 Transition Tax Contravenes Congressional Intent and Imposes Unintended Burden on Taxpayers

Thu, Aug 16, 2018

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. When Congress passes legislation as comprehensive and technical as the Tax Cuts and Jobs Act (TCJA), drafting and implementation glitches inevitably arise. This week...

NTA Blog: IRS Continues to Close Taxpayer Assistance Centers, Despite Taxpayer Advocate Service and Congressional Concerns

Thu, Aug 09, 2018

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. For many years I have reported on the state of service at IRS Taxpayer Assistance Centers (TACs), formerly known colloquially as walk-in sites. In my previous blog, ...

Fox Business

Delta tech glitch forces ground stop

Wed, Sep 26, 2018

The airline said it was working to resolve the issue late Tuesday....

Environmental, tribal groups ask PUC to reconsider Line 3

Wed, Sep 26, 2018

Environmental and tribal groups asked Minnesota regulators on Tuesday to reconsider their approval of Enbridge Energy's plans to replace its aging Line 3 crude oil pipeline across northern Minnesota....

Following Rivals, Delta Air Lines and American Airlines Raise Bag Fees

Wed, Sep 26, 2018

A $30 fee for the first checked bag has quickly become the new U.S. airline industry standard for domestic and short-haul international travel....

It's Time to Stop Overlooking This Oil Stock

Tue, Sep 25, 2018

The Bakken shale leader has already zoomed 75% in the past year, but it appears to have plenty more fuel left in the tank....

How Big a Deal Is Tilray’s Australia Distribution Agreement?

Tue, Sep 25, 2018

The marijuana company is increasing its distribution of medical marijuana in Victoria, Australia....

Gene Munster: Apple Converts Paying Music Customers Far Better Than Spotify Does

Tue, Sep 25, 2018

Thanks, vertical integration!...

The Latest: Big changes for small fish for fishermen

Tue, Sep 25, 2018

The Latest on new limits imposed on herring fishery (all times local): 6:30 p.m. Big changes are in store for herring fishermen in New England....

BMW warns that trade spat will drag on sales, profit

Tue, Sep 25, 2018

The German automaker cut its outlook for full-year sales and earnings....

Continued Rate Hikes a Boon for ‘TMV’ ETF

Tue, Sep 25, 2018

This article was originally published on ETFTrends.com....

Why New Age Beverages Corp Stock Popped Today

Tue, Sep 25, 2018

Shares of the niche drink-maker popped again on hopes for its new CBD-infused line of beverages....