IR-2020-15, January 17, 2020 WASHINGTON — IRS Free File can save families, especially those with children, some money in 2020 plus find tax benefits such as the Earned Income Tax Credit. Free File is now available at IRS.gov/freefile. Since its 2003 debut, Free File has served nearly 57 million taxpayers, saving them $1.7 billion using […]
Monthly Archives: January 2020
IRS willing to consider requests for relief from double taxation related to repatriation
IR-2020-16, January 17, 2020 WASHINGTON — The IRS announced today that the agency has become aware of limited circumstances in which it may be appropriate to provide relief from double taxation resulting from application of the repatriation tax under section 965, as amended by the Tax Cuts and Jobs Act (TCJA). The IRS has determined […]
Defendants in FTC Credit Repair Scheme Case Agree to Settle Charges
The operators of a bogus credit repair scheme are banned from the credit repair business and subject to a wide array of other requirements under settlement terms with the Federal Trade Commission. The settlements relate to an FTC complaint filed in June 2019 alleging that the defendants targeted consumers with false promises of substantially improving […]
Overseas Payment Processor and its Former CEO Settle FTC Allegations That They Enabled a Deceptive “Free Trial” Offer Scheme
A Latvian payment processor and its former CEO have agreed to settle the Federal Trade Commission’s complaint against them. The complaint alleges that they engaged in unlawful conduct that enabled a deceptive “free trial” offer scheme by U.S.-based defendants. “Transact Pro helped scammers drain people’s accounts without their permission,” said Andrew Smith, Director of the […]
Treasury International Capital Data for November
Washington – The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for November 2019. The next release, which will report on data for December 2019, is scheduled for February 18, 2020. The sum total in November of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was […]
TREASURY TO ISSUE NEW 20-YEAR BOND IN FIRST HALF OF 2020
WASHINGTON — The U.S. Department of the Treasury today announced it plans to issue a 20-year nominal coupon bond in the first half of calendar year 2020. Over the past several years, Treasury has explored a range of potential new debt products, including 20-year, 50-year, and 100-year bonds, as well as floating-rate notes linked to […]
Heightened Cybersecurity Risk Considerations
FIL-3-2020 January 16, 2020 Heightened Cybersecurity Risk Considerations Printable Format: FIL-3-2020 – PDF (PDF Help) Summary: In response to the heightened cybersecurity risk facing the financial services industry and other critical business sectors, the FDIC and the Office of the Comptroller of the Currency issued an interagency statement on heightened cybersecurity risk. The statement focuses […]
Get up-to-date information this tax filing season with redesigned IRS e-News Subscriptions
IR-2020-14, January 16, 2020 WASHINGTON — As the 2020 tax season approaches, the Internal Revenue Service today encouraged taxpayers, businesses, tax professionals and others to take advantage of a variety of improved e-mail subscription services. The e-News Subscription Service has been redesigned and updated in recent months to make it easier to subscribe to specific […]
FTC Acts to Shut Down ‘Success by Health’ Instant Coffee Pyramid Scheme
A federal court granted the Federal Trade Commission’s request to temporarily shut down an alleged pyramid scheme known as “Success By Health,” and to freeze the assets of the company and its executives. In a complaint filed in federal court, the FTC alleges that Success By Health and its executives James “Jay” Dwight Noland, Jr., […]
FTC Releases Agenda for January 28 Voice Cloning Workshop
The Federal Trade Commission has released the final agenda for a January 28, 2020 FTC workshop that will examine voice cloning technologies, which enable users to make near-perfect reproductions of a real person’s voice. “You Don’t Say: An FTC Workshop on Voice Cloning Technologies” will examine the benefits and potential misuses of voice cloning technologies and […]