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Daily News

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

US Energy Administration

EIA adds new play production data to shale gas and tight oil reports

Fri, Feb 15, 2019

In December 2018, U.S. shale and tight plays produced about 65 billion cubic feet per day (Bcf/d) of natural gas (70% of total U.S. dry gas production) and about 7 million barrels per day (b/d) of crude oil (60% of total U.S. oil production). A decade ago, in December 2008, shale gas and tight oil made up 16% of total U.S. gas production and about 12% of U.S. total crude oil production....

Azerbaijan to become a more significant supplier of natural gas to Southern Europe

Thu, Feb 14, 2019

Azerbaijan is an important supplier of crude oil and natural gas in the Caspian Sea region, particularly to European markets. Azerbaijan’s exports of natural gas are poised to become a more significant part of the country’s economy. Azerbaijan produced about 600 billion cubic feet (Bcf) of dry natural gas in 2017 and exported about 210 Bcf, according to EIA’s International Energy Statistics....

Electricity intensity of U.S. homes and commercial buildings decreases in coming decades

Wed, Feb 13, 2019

In EIA’s recently released Annual Energy Outlook 2019 (AEO2019) Reference case, projected residential and commercial purchased electricity consumption grows more slowly than the number of households or total commercial floorspace. As a result, electricity intensity—the amount of electricity consumed per household or square foot of commercial floorspace—decreases by an average of 0.3% per year a...

Power blocks in natural gas-fired combined-cycle plants are getting bigger

Tue, Feb 12, 2019

Combined-cycle electric generating systems are combustion and steam turbines that operate in groups commonly referred to as power blocks. Since 2014, the average size of a natural gas-fired combined-cycle power block has increased significantly. The average combined-cycle power block installed between 2002 and 2014 was about 500 megawatts (MW). After 2014, power block capacity increased, reachi...

Emissions from the U.S. electric power sector projected to remain mostly flat through 2050

Mon, Feb 11, 2019

EIA’s recently released Annual Energy Outlook 2019 projects that the U.S. electric power sector emissions of sulfur dioxide (SO2), nitrogen oxides (NOx), and carbon dioxide (CO2) will remain mostly flat through 2050, assuming no changes to current laws and regulations....

Taxpayer Advocate Service Feed

National Taxpayer Advocate Releases Annual Report to Congress Addressing Impact of Shutdown, Urging for Multi-Year Funding for IT Modernization and Improving Taxpayer Service

Tue, Feb 12, 2019

National Taxpayer Advocate Nina E. Olson releases her 2018 Annual Report to Congress, describing challenges the IRS is facing as a result of the recent government shutdown and recommending that Congress provide the IRS with additional multi-year funding to replace its core 1960s-era information technology (IT) systems. Ms. Olson notes IT funding as her top legislative recommendation. The resour...

TAS Tax Tip: Tax Filing Help Information

Thu, Feb 07, 2019

The tax return filing season is here. Do you need help with filing information and options? Here are some useful tips from the Taxpayer Advocate Service. Options for Filing a Tax Return Each year, most people who work are required to file a federal income tax return. If you must file, you have two options: Filing an electronic tax return (often called electronic filing or e-filing), or Filing ...

Success Story: The Taxpayer Advocate Service’s advocacy protects taxpayers’ rights in IRS tax lien withdrawal case

Mon, Feb 04, 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. TAS is an advocate for protecting taxpayers’ rights. This success story is an example of how TAS's advocacy protected a taxpayer&r...

TAS Tax Tip: New 2018 Form 1040 Changes and Helpful Hints for Completion

Thu, Jan 31, 2019

It’s filing season! The IRS’s new Form 1040 for 2018, its corresponding Schedules 1-6, and instructions are now available. Taxpayer Advocate Service’s Tax Reform Changes website contains updated references to the new 2018 form and schedules now as well. There’s no denying this year’s new Form 1040 and schedules are very different than the tax form and schedules you...

Taxpayer Advocate Service offices are open

Mon, Jan 28, 2019

As of January 28, 2019, all TAS offices are open. Some offices may be closed due to weather or other emergencies as updated on our Contact Us page. As always, the Taxpayer Advocate Service is committed to helping our taxpayers. All cases matter greatly to us and we need to make sure we are addressing the most serious cases first. Due to the prolonged government shutdown, we will need some time ...

NTA Blog: Holiday Greetings

Thu, Dec 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. As we wrap up this year with putting the finishing touches on the National Taxpayer Advocate’s Annual Report to Congress, we are taking a break this week and n...

TAS Tax Tip: Deduction and Expense Changes; Gear-up now for changes that will affect your 2018 return

Mon, Dec 17, 2018

It’s the holidays and is anyone really thinking about taxes? We hope you are, because there are certain things you will want to know now, and some you may need to act upon before the end of the calendar year.For individuals, the Taxpayer Advocate Service’s Tax Reform Changes website, in both English and Spanish, has information for you about what is changing and what is not for the ...

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

Thu, Dec 13, 2018

NEW (12/13/2018): The 2018 Form 1040, schedules and instructions are now available. Our Tax Reform Changes website shows where the new tax law items can be found on the 2018 form, in addition to the 2017 form. Promote Our SiteIs your business or association involved in helping others understand federal income taxes and the ramifications of changes to those laws each y...

Nuevo Sitio Web Sobre Cambios en la Reforma de Impuestos que Explica qué está Cambiando y qué no

Thu, Dec 13, 2018

English NUEVO (12/13/2018):El formulario 1040 de 2018, los anexos y las instrucciones ya están disponibles. Nuestro sitio web de Cambios en la Reforma de Impuestos muestra dónde se pueden encontrar los nuevos elementos de la reforma de impuestos legislación fiscal en el formulario de 2018, además del formulario de 2017. 0 de 2018, los an...

New Tax Reform Changes Website Explains What Is Changing and What Is Not

Thu, Dec 13, 2018

En Español NEW (12/13/2018): The 2018 Form 1040, schedules and instructions are now available. Our Tax Reform Changes website shows where the new tax law items can be found on the 2018 form, in addition to the 2017 form. You may know that Congress approved major tax reform in the Tax Cuts and Jobs Act (TCJA) on Dec. 22, 2017. The IRS is currently working on...