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Daily News

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

US Energy Administration

Annual U.S. refinery runs expected to decline for first time in 10 years

Fri, Aug 16, 2019

U.S. gross inputs to refineries, also known as refinery runs, have increased each year since 2009, most recently reaching a record high of 17.3 million barrels per day (b/d) in 2018. However, based on its monthly refinery run data through May and forecast for the remainder of 2019, the U.S. Energy Information Administration (EIA) expects refinery runs to decline and average 17.0 million b/d in ...

Investor-owned utilities served 72% of U.S. electricity customers in 2017

Thu, Aug 15, 2019

According to the U.S. Energy Information Administration’s (EIA) electric power sector survey data, almost 3,000 electric distribution companies—or utilities—were operating in the United States in 2017. EIA classifies utilities into three ownership types: investor-owned utilities, publicly run or managed utilities, and cooperatives. Although there are fewer investor-owned utilities than the othe...

State-level average annual gasoline expenditures per capita ranged from $400 to $1,400

Wed, Aug 14, 2019

Data from the U.S. Energy Information Administration’s (EIA) new Key Statistics and Indicators section of the State Energy Data System (SEDS) show that nominal per capita U.S. motor gasoline expenditures (the amount of money spent to consume motor gasoline in the United States) averaged $1,072 in 2017, an 11% increase from 2016 and the first annual increase since its peak of more than $1,500 in...

U.S. solar module imports partially recover after tariffs were imposed in early 2018

Tue, Aug 13, 2019

The United States imposed tariffs on imported silicon solar cells and modules in January 2018. Module imports decreased in the months following the tariffs' announcement and effective date, according to the U.S. Energy Information Administration's monthly data of solar photovoltaic (PV) module shipments. U.S. solar PV module imports, measured in the modules' capacity in kilowatts, increased in ...

Australia is on track to become world's largest LNG exporter

Mon, Aug 12, 2019

Australia is on track to surpass Qatar as the world's largest liquefied natural gas (LNG) exporter, according to Australia's Department of Industry, Innovation, and Science (DIIS). Australia already surpasses Qatar in LNG export capacity and exported more LNG than Qatar in November 2018 and April 2019. Within the next year, as Australia's newly commissioned projects ramp up and operate at full ...

Taxpayer Advocate Service Feed

Success Story: Taxpayer Advocate Service's Advocacy Helps Taxpayer Keep Housing Subsidy

Thu, Aug 15, 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 received a congressional inquiry where a taxpayer, living in a rural area, was unable to secure a tax account transcript. Without th...

Tax Tips Page

Thu, Aug 08, 2019

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Taxpayer Roadmap

Tue, Aug 06, 2019

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NTA Blog: NTA Farewell

Wed, Jul 31, 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 is the last day of my tenure as the National Taxpayer Advocate. It has been a wild ride over these last 18 years. It will take me years to sort out what has gon...

NTA Blog: The Roadmap to the Roadmap: A Travelogue

Mon, Jul 29, 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 On July 10th, my office released the 2019 Taxpayer Roadmap—a visual representation of the taxpayer’s journey through the tax system. I am enormously ...

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 § 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...