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

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 ...

Low Income Taxpayer Clinic (LITC) Program Reports on Activities

The Low Income Taxpayer Clinic (LITC) Program, administered by TAS, has issued its first program report and related infographic. The report summarizes how clinics assist thousands of low income taxpayers through pro bono representation, education and advocacy efforts. Learn more about LITCs on the Low Income Taxpayer Clinics page of the Taxpayer Advocate Service’s (TAS) Tax Toolkit....

Sequestration and EITC Information, New Tax Reform Comments Added to Tax Toolkit

Learn how the sequestration cuts will reduce the refundable portion of the Small Business Health Care Tax Credit for some small, tax-exempt employers, and access updated information about the 2012 Earned Income Tax Credit (EITC) on the Taxpayer Advocate Service (TAS) Tax Toolkit. In addition, read new tax reform suggestions submitted by members of the public on the Tax Reform Suggestion Box p...

New Tax Reform Suggestions on Tax Toolkit

New suggestions from taxpayers regarding ways to reform the tax system are available on the Tax Reform Suggestion Box page of the Taxpayer Advocate Service (TAS) Tax Toolkit. Visit this page to read various taxpayers’ thoughts on reform and submit your own ideas....




Heart surgeon works on trial, presents for Verve Medical

Posted: Sat May 18 14:00:32 PDT 2013

I caught up with Dr. Richard Heuser on Friday, right after he finished a surgical procedure and before he headed out to Paris for an interventional cardiology meeting. Heuser was the first in the U.S. to perform a medical procedure as part of a clinical trial for Eden Prairie, Minn.-based Osprey Medical Inc. The Osprey Medical Cincor system is designed to remove contrast dye from the heart ...

Fashion takes over Discovery World: Slideshow

Posted: Sat May 18 11:38:46 PDT 2013

If you are part of Milwaukee's fashion industry, the place to be Friday evening was Discovery World on the city's lakefront. Check out the slideshow put together by Business Journal freelance photographer Sara Stathas of the many designs and fashions that highlighted Discovery World's Fashion Forward event. Several hundred Milwaukee-area retailers, fashion industry workers and other business e...

Charlotte Bobcats moving to bring back the Hornets name?

Posted: Sat May 18 07:12:47 PDT 2013

Looks like Hugo the Hornet might be making a Queen City homecoming after all. A report from CBS Sports says the Charlotte Bobcats have started the process to change the name of the local NBA team back to the Charlotte Hornets. No timetable was provided for when the change could be completed, but Adam Silver, soon to be commissioner of the NBA, has previously said it would take at least 18 mont...

Denver Business Journal wins 33 awards in 4-state Society of Professional Journalists news competition

Posted: Sat May 18 05:00:02 PDT 2013

The Denver Business Journal staff has won 33 awards, including 13 first-place honors, in a four-state Society of Professional Journalists competition. The SPJ's "Top of the Rockies" awards for excellence in newspaper, digital and broadcast news were presented Friday night at the Denver Press Club. The Journal won nearly twice as many SPJ regional awards as last year and the year before and fa...

Parker Drilling compliance chief shares FCPA strategy

Posted: Sat May 18 04:38:30 PDT 2013

When it comes to corporate compliance with anti-bribery laws, a one-size-fits-all approach may yield the best results, according to Dan Chapman, chief compliance officer at Houston-based Parker Drilling Co. (NYSE: PKD). As energy companies engage in drilling operations in foreign lands more often, Chapman?s advice may be worth a listen. Under his leadership, Parker Drilling settled a multimill...

Price of Seattle waterfront building shoots up 374% in less than 3 years

Posted: Fri May 17 18:14:18 PDT 2013

Equity Residential made a huge profit on an old Seattle waterfront building, selling it this week for $32.5 million. Public records show that an entity related to Unico Properties of Seattle bought the six-story, 96,600-square-foot building at 51 University St. The price of the building has been climbing since August 2010, when Goodman Real Estate bought it for $6.85 million. Less than a year...

Future for undeveloped property downtown

Posted: Fri May 17 18:09:34 PDT 2013

A piece of undeveloped property next to the U.S. Bank Tower probably won?t stay that way for long now in the face of a new Kings arena a stone?s throw away, said the owner, downtown developer David Taylor. ?This will expand opportunities for high rises downtown again,? said Taylor of David S. Taylor Interests, though he added it?s too soon to tell whether the undeveloped lot will become housin...

Bloomingdale?s, Castle foundation show improved perceptions of Hawaii?s economy

Posted: Fri May 17 17:59:43 PDT 2013

Two breaking news stories on Friday underscored the fact that Hawaii?s economy is on an upswing ? the swanky New York City department store Bloomingdale?s is coming to Ala Moana Center, and land values have gotten high enough to convince the Castle family to put its commercial real estate portfolio on the block. The new, three-level, 165,000-square-foot Bloomingdale?s store will replace what i...

Maui Land & Pineapple leads Hawaii stocks higher as Dow posts another record

Posted: Fri May 17 17:35:43 PDT 2013

Maui Land & Pineapple Co.?s 4 percent gain during Friday trading leads Hawaii stocks higher as the broader markets reached new records. The Dow Jones Industrial Average added 121.18 points, or 0.80 percent, to close at 15,354.40, while the Nasdaq gained 33.72 points, or 0.97 percent, to close at 3,498.97. Gainers: Alexander & Baldwin Inc. (NYSE: ALEX) closed at $35.70, up 52 cents, or 1.50 p...

Rolling with Seattle's biking execs: Alan Elser of GM Nameplate

Posted: Fri May 17 17:17:33 PDT 2013

What's a little rain? A hill or two? Nothing stops Seattle's bicyclists from putting the pedal to the metal. The Puget Sound Business Journal last week published a story on Seattle business leaders who do their daily commuting by bicycle. This week, leading up to Bike to Work Day on Friday, we offer an in-depth look at six executives' survival strategies and their gear. Alan Elser CFO, GM Nam...


These 3 Stocks Made the Dow Soar for Decades

Posted: Sat May 18 20:39:37 PDT 2013

Even with the Dow at record highs, these stocks have dwarfed the Dow's long-term gains.    ...

Got $100? Here's How to Start Investing

Posted: Sat May 18 19:10:03 PDT 2013

You don't need a lot of money to get on the road to financial prosperity and security.    ...

Best Buy Stock Will Only Break Your Heart

Posted: Sat May 18 18:00:06 PDT 2013

Best Buy stock is rallying ahead of Tuesday's earnings report. Be careful.    ...

How to Find Out if You're a Great Investor

Posted: Sat May 18 18:00:02 PDT 2013

Stock Advisor Analyst Jason Moser pulls back the curtain on The Motley Fool's flagship stock-picking service.    ...

Will NetApp's Earnings Keep It in Play?

Posted: Sat May 18 17:45:02 PDT 2013

The network storage specialist reports earnings on Tuesday amid interest from an activist investor.    ...

How a Disciplined Value Approach Works Across the Decades

Posted: Sat May 18 17:00:11 PDT 2013

Buffett applies his principles in good times and bad.    ...

How Apple Is Scrambling to Catch Up With Google

Posted: Sat May 18 16:00:07 PDT 2013

Google just took the wraps off of a brand-new music streaming service, which pre-empts Apple's own rumored service. How did Google beat Apple to the punch?    ...

Netflix and Amazon Aim to Cancel Traditional TV

Posted: Sat May 18 16:00:03 PDT 2013

Stay tuned to see if they can do it.    ...

AbbVie Investors, Watch This Management Change

Posted: Sat May 18 15:30:02 PDT 2013

What strategy will the company's new chief scientific officer pursue?    ...

Obamacare Looks Cheap Compared With This Policy

Posted: Sat May 18 15:00:03 PDT 2013

Understanding this American policy could affect your bottom line even more than you realize.    ...







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