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

Upcoming Closures for TAS and IRS

Due to the current budget situation, including the sequester, all IRS and TAS offices will be closed on May 24, June 14, July 5, July 22 and Aug. 30, 2013. Tax-filing and payment deadlines will remain the same. More information about the impact of the shutdown is available on IRS.gov. ...

Return Preparer Test Refund Update

Some preparers made appointments to take the test to become a registered return preparer, and paid the required fee. Since a U.S. District Court issued an injunction stopping the testing, the IRS is refunding those fees. Learn more about this news and related information on the Registered Tax Return Preparer Test page of the Taxpayer Advocate Service (TAS) Tax Toolkit....

New Success Story: TAS Saves Taxpayer?s Car from Repossession

When a taxpayer whose return was being delayed by the IRS was facing a possible repossession of his vehicle, TAS stepped in to help. See how his TAS case advocate saved the day on the on the Success Stories page of the Tax Toolkit....

NTA makes the case for regulating tax preparers

Each year, taxpayers hire paid practitioners to prepare and file nearly 80 million individual tax returns, due to the overwhelming complexity of the tax code. Efforts by the IRS and Treasury to regulate preparers were halted when a U.S. district court found, in the Loving v. IRS case, that Treasury lacked authority to issue such standards. The National Taxpayer Advocate believes the district ...

TAS Case Advocates: Your Voice at the IRS

TAS case advocates assist qualifying taxpayers nationwide in resolving problems with the IRS. Identity theft was the most common issue in TAS casework during fiscal year 2012 (10/1/11 – 9/30/12) and rose 61 percent over the last fiscal year. TAS also found an increasing number of taxpayers were defrauded by tax preparers. Learn more about TAS Case Advocacy on the Taxpayer Advocate Servi...

National Taxpayer Advocate (NTA) Nina Olson Testifies on IRS Budget

In her recent testimony before Congress, National Taxpayer Advocate (NTA) Nina Olson notes the IRS could only answer 57 percent of calls on tax day – an “F” in any grading book. Learn more about IRS budget issues and the NTA’s recommendations in her testimony before Congress on the Taxpayer Advocate Service’s Tax Toolkit....

Taxpayer Advocate Service: Advocacy in Action; Improvements to Online PTIN System

TAS received nearly 220,000 new cases in FY2012. In addition, identity theft-related cases rose 97 percent. Learn more about TAS’s mission and work on the Who We Are page of the Tax Toolkit. In addition, learn about the recent improvements to the IRS’s online Preparer Tax Identification Number (PTIN) system on the Renewing or Applying for a PTIN page....

NTA Interviewed on Tax-Related Identity Theft; Video Explains What to Expect From TAS; New Tax Reform Comments Available

In a recent interview on Federal News Radio, National Taxpayer Advocate Nina Olson outlines the recent dramatic increase in tax-related identity theft, discusses how TAS and the IRS are working to help victims and the proposed new civil penalties for those who commit identity theft. In addition, new tax reform comments submitted by members of the public are now available on the Tax Reform Sug...

National Taxpayer Advocate Nina Olson Testifies on Tax Fraud and Tax ID Theft

National Taxpayer Advocate Nina Olson testified before the U.S. Senate Finance Committee on April 16 about several key tax issues, including tax fraud, tax identity theft and tax reform. Read her testimony on the Taxpayer Advocate Service’s (TAS) Tax Toolkit....

2013 Tax Forum Registration, PTIN Renewal Applications Update

Each year, TAS participates in the IRS Nationwide Tax Forums, a three-day series of tax education and networking conferences for tax professionals. Learn about registration, dates and locations for the 2013 Forums on the TAS at the IRS Nationwide Tax Forums page on the Taxpayer Advocate Service’s (TAS) Tax Toolkit. In addition, all enrolled agent renewal applications for SSNs ending in ...




Kailua businesses await possible sale of Kaneohe Ranch portfolio: Slideshow

Posted: Fri May 24 16:35:17 PDT 2013

Longtime Kailua resident Gloria Garvey is among dozens of local and national businesses owners who are anxiously awaiting the outcome of a possible sale of the Kaneohe Ranch portfolio, which includes most of Kailua?s town center. Click on the photo for a slideshow of Kaneohe Ranch?s commercial tenants in Kailua. Garvey says Kaneohe Ranch had two options ? either to improve the properties and ...

Dish draws scrutiny to SoftBank-Sprint security

Posted: Fri May 24 16:23:30 PDT 2013

Dish Network Corp. seems to have found some traction with its complaints of national security concerns surrounding Tokyo-based SoftBank Corp.?s deal to buy mobile phone carrier Sprint Nextel Corp. Dish, the Douglas County-based satellite TV company, wants Sprint, too. It has suggested SoftBank?s acquisition of Overland Park., Kan.-based Sprint should be scrutinized and federal officials should...

The case for and against a Yahoo/Hulu deal

Posted: Fri May 24 16:20:31 PDT 2013

Wow, slow your roll, Yahoo. Just days after closing a $1.1 billion acquisition of Tumblr, Yahoo is reportedly putting in a bid for Hulu. According to unnamed sources quoted by Variety, Yahoo is the latest company to put in a bid for the streaming video site. Variety also said that Amazon, which was seen as a frontrunner for the deal, has dropped out of contention. Bid price was not disclosed....

Tech Wildcatters hosts largest program in its 5-year history

Posted: Fri May 24 16:09:01 PDT 2013

Dallas? Tech Wildcatters this week hosted its largest program since the group's inception five years ago. The seed accelerator, which works to develop companies, selected 11 startups and attracted 500 guests to its Pitch Day Thursday, the final event in the 12-week program. ?With every single class, I wonder if they?re going to be better than the last,? said Gabriella Draney, Wildcatters CEO....

Sidecar (finally) gets CPUC approval for ridesharing

Posted: Fri May 24 15:53:02 PDT 2013

Ridesharing service Sidecar has finally landed approval from the California Public Utilities Commission to continue its ridesharing operation, staying a cease-and-desist order and nixing a $20,000 fine levied by the state regulator. Through its mobile app, Sidecar connects passengers who need rides with people who are driving around nearby. It took months for the service to convince the CPUC t...

Ken Thomas says City National Bank deal good for local businesses

Posted: Fri May 24 15:35:14 PDT 2013

Miami-based bank analyst and economist Kenneth H. Thomas said the deal by Banco de Credito e Inversiones (BCI) to buy City National Bank of Florida is good for local businesses because it maintains a competitor in the marketplace and should lead to the bank expanding. It was announced on Friday that Spain?s Bankia would sell the Miami-based bank to BCI for $882.8 million, which is about 1.5 ti...

Tempe City Council to consider State Farm development May 30

Posted: Fri May 24 15:27:37 PDT 2013

The development agreement for State Farm Insurance?s massive 2 million-square-foot regional headquarters along Tempe Town Lake ? which was confirmed after months of rumors today and is reportedly the largest office development in state history ? will go before Tempe City Council for consideration at its next meeting on May 30, city spokeswoman Nikki Ripley told me Friday afternoon. The city ha...

NuStar, Greehey foundation supporting Oklahoma relief effort

Posted: Fri May 24 15:19:55 PDT 2013

NuStar Energy LP?s philanthropic arm and The Greehey Family Foundation are donating $350,000 to the American Red Cross to support tornado relief efforts in Oklahoma. The Greehey Family Foundation is contributing $250,000, while the NuStar Foundation is donating $100,000. Bill Greehey is the chairman of the board for NuStar Energy (NYSE: NS) and the benefactor behind the Greehey Family Foundat...

Swisher Hygiene shares fall after earnings report

Posted: Fri May 24 15:19:07 PDT 2013

Shares of Swisher Hygiene fell 5 cents, or 4.24 percent, to $1.13 on Friday after the company reported more losses in the first quarter. Swisher (NASDAQ: SWSH) reported a $17.24 million loss from continuing operations compared with a $13.26 million loss in the year-ago quarter. Sales of chemical products dropped from $40.03 million to $35.67 million. Sales of the hygiene, rental and other cat...

Food trends from the NRA

Posted: Fri May 24 15:06:59 PDT 2013

The NRA (calm down, I?m talking about the National Restaurant Association) recently held its big show in Chicago, where more than 2,000 companies representing more than 900 product categories showed up to showcase what they?ve got cooking. During this conference, lots of new food trends were spotted, many of which revolved around health and bold new flavors to meet what food producers say are ...


These Consumer Giants Bailed Out the Dow Today

Posted: Fri May 24 17:02:02 PDT 2013

Once again, the Dow recovered from a big early decline.    ...

Is Microsoft Stock a Buy?

Posted: Fri May 24 17:00:15 PDT 2013

Windows 8 hasn't been a smashing success for Microsoft, but a growing presence in mobile and the recent release of the Xbox One make Microsoft stock worth another look.    ...

3 Stocks Near 52-Week Highs Worth Selling

Posted: Fri May 24 17:00:02 PDT 2013

Are these three stocks sells or belles? You be the judge!    ...

Foot Locker Q1 Beats Slightly on EPS

Posted: Fri May 24 16:47:44 PDT 2013

The company tops analyst expectations by $0.02 a share.    ...

Gleacher Fires Its CEO and COO

Posted: Fri May 24 16:34:57 PDT 2013

Thomas Hughes and John Griff are no longer in their positions.    ...

The Lesson We Learned From JPMorgan's Shareholder Vote

Posted: Fri May 24 16:34:02 PDT 2013

With things remaining status quo at the bank, there's one big lesson we can learn from the uneventful outcome of a non-binding vote.    ...

2.5 Million Reasons to Like Pandora

Posted: Fri May 24 16:30:04 PDT 2013

Pandora has a blowout quarter in terms of premium subscriber acquisitions.    ...

Google Gets In on the Waze Craze

Posted: Fri May 24 16:30:02 PDT 2013

Several tech giants have reportedly considering acquiring Waze. Google is the latest potential suitor named. Will anyone take Waze home?    ...

Today?s 3 Worst Stocks

Posted: Fri May 24 16:26:02 PDT 2013

Two of today's biggest laggards posted unimpressive quarters and the last is still suffering from China worries.    ...

The Conundrum of a Rising Rate Environment for U.S. Banks

Posted: Fri May 24 16:16:02 PDT 2013

When interest rates rise, expect the big banks to better manage narrowing margins and produce more consistent earnings.    ...







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