On cspan, online at cspan. Org and listen live on the free cspan radio app. The commissioner of the irs testified before the Senate Finance committee on the impact of the coronavirus on the 2020 taxis and including efforts season including efforts to help taxpayers and Small Business. This is just over two hours. [gavel] sen. Grassley commissioner rettig, thank you for agreeing to testify on 2020 tax Filing Season and the irs handling of challenges that are posed because of the pandemic. The 2020 Filing Season got off to its typical start at the end of january. However since then, this Filing Season has been anything but typical. As a result of the National Health emergency stemming from the ongoing pandemic, almost all regular tax filing and tax payment deadlines have been extended. This includes the individual and Corporate Income tax filings and payment deadlines which were pushed back from the normal april 15 to july 15. There is some rumors it might be extended again. I dont know.
Filing season and the irss. Andling of challenges at the 2020 Filing Season got off to a typical start. Since then, this Filing Season as been anything but typical a result of the National Health emergency stemming from the ongoing pandemic. Almost all regular tax filing and tax payment deadlines have been extended. This includes the individual and Corporate Income tax filings and payment deadlines, which were pushed back from the normal april 15 to july 15. There are some rumors they might be extended again. I dont know. I have heard that at least once. Extendedhese deadlines, the tax Filing Season continues with many taxpayers still filing taxes as usual to get their tax refund. At the same time, consistent with the Government Shutdown orders and cdc guidance, the irs limited much of its work to essential services, closed a number of facilities, and instituted telework policies where practical. Shortstaffed irs during the busiest time of the year. Understandably, that meant to taxpay
Commissioner rettig, thank you for agreeing to testify on 2020 tax Filing Season and the irs handling of challenges that are posed because of the pandemic. 2020 Filing Season got off to its typical start at the end of january. However since then, this Filing Season has been anything but typical. This includes the individual and Corporate Income tax filings and payment deadlines which were pushed back from the normal april 15 to july 15. There is some rumors it might be extended again. I dont know. I have heard that at least once. Despite these extended dialogue deadlines, the tax Filing Season continued with money still filing taxes as usual asy still filing taxes usual. At the same time consistent with Government Shutdown orders and cdc guidance, the irs limited much of its work to essential services, closed a number of facilities and instituted telework policies where practical. Shortstaffed irs during the busiest time of the year. That meant taxpayers experience longer wait times to
Lets get into these results from samsung. What was the offer . Not as impressed as the shareholders are. They seem pretty impressed. I think there is a lot of concern they need to be aware of. First of all, the chip business really fell off a cliff. Operating profit really fell a lot. The other thing is the smartphone business had a good quarter. It was the secondhighest sale on record for that division. Incomecompare operating versus a couple of quarters ago, operating profit was a lot lower. Margins a lot worse than it had been in the past. They said themselves this quarter, the fourth quarter, they would see a deterioration, not only in shipments, but also a have bees. What they ship will be the cheaper phones. Not the flagship stuff they had in the first quarter. The cheaper stuff. Those are the landmines investors need to be worried about as we go into the next. Components are weak and their products are week as well. It definitely is downbeat, a column this morning. You sum up by
Bond market in the u. S. , as well as in europe, particularly in germany. Time now for global exchange. We are going to bring you todays market moving news from all around the world, from hong , newto tokyo, to milan york and d. C. Chinese officials are casting doubt on a longterm trade agreement. Running the is enda curran. What did we learn overnight . Of just is a reminder how far both sides have to go before we reach any type of deeper, comprehensive trade agreement. The signals from beijing that our colleagues reported today are that china will want to see the u. S. Move on tariffs, to roll back tariffs and take away the threat of new tariffs. China has its own red lines around industrial and economic strategy, and theres a question of durability. Chinese officials are unsure how committed President Trump will be to any trade agreement. The signals seem to be that we are on track for some type of interim agreement, but the Bigger Picture hasnt changed. Both sides are dug in. Alix