These are the stocks posting the largest moves before the bell.Market Insiderread more
"That's my view. They'll cut preemptively in June. That is to say Wednesday," says the Grant's Interest Rate Observer newsletter editor.Economyread more
The Fed is not likely to make a move on interest rates when it meets this week, but it should clear the way for a rate cut later in the summer.Market Insiderread more
Ross played down the prospect of an agreement being reached at the G-20 meeting in Osaka on June 28-29.Paris Airshowread more
Boeing is scrambling to restore confidence in the 737 Max from regulators, customers and the flying public.Paris Airshowread more
The chipmaker crush could persist and investors should be selective, but Nvidia looks like a clear buy, one market watcher says.Trading Nationread more
Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Here are the biggest calls on Wall Street on MondayInvestingread more
In a rare downgrade for the stock, Imperial Capital lowered its rating for Disney to in-line from outperform and maintained its target price of $147.Investingread more
GM CEO Mary Barra promised the automaker would launch 20 models of electric cars by 2023, beginning early this year. That plan may stall. A slowdown in China, a ratcheting up...Evolveread more
Senior economists from both political parties say a rate cut may not work that smoothly even if the Fed says yes. And that poses risks to America's decade-long recovery as the...Politicsread more
The longest government shutdown in history could not have come at a worse time for the IRS, the National Taxpayer Advocate has told Congress.
The IRS was heading into its first filing season under the massive new tax law when the federal government partially closed.
Among the changes was the raising of the standard deduction for married couples to $24,000 from $13,000, and to $12,000 for individuals, from $6,500. Personal exemptions were also eliminated.
"It was the biggest change in 30 years," said Gary Milkwick, chief product officer at 1800Accountant.com, a New York-based tax preparation and consulting firm.
By the time the government reopened in late January, the agency had more than 5 million pieces of mail that had not been processed and 87,000 amended returns waiting to be handled, the report said. The National Taxpayer Advocate is an independent office within the IRS.
At the start of filing season the IRS answered 48 percent of its calls, and the average wait time was 17 minutes. During the same period last year, the IRS answered 86 percent of calls and the average wait time was about four minutes.
In the first week after the IRS reopened, more than 93 percent of taxpayers calling to make payment arrangements with the government were still unable to reach a person, the report said.
"It's going to take them awhile to get back to speed," said Cindy Hockenberry, director of tax research and government relations at the National Association of Tax Professionals.
Adding to the problems are the outdated computers and technology the IRS has been left with due to a lack of funding, the report from the taxpayer advocate also says. Some of the systems have not been replaced in 25 years.
A spokesperson for the IRS said filing season was going smoothly. "Nine out of 10 refunds will still be issued in less than 21 days when the taxpayer uses e-file with direct deposit," he said.
Taxpayers might be taking their time this year, experts say.
The IRS issued necessary guidance around the new code, including how deductions work for people who rent out their property, as recently as last month, Milkwick said.
"We're encouraging people to file extensions more often than in the past," he said.
Taxpayers who request an extension don't have to file their taxes until Oct. 15. However, they'll still have to estimate their liability and send in what they owe by the regular April 15 deadline.
With another possible shutdown just days away, about 57 percent of the agency's employees will be designated as "exempt" during the current filing season if the government closes again, according to the IRS contingency plan.
Wondering where your refund is? You can check its status on the IRS website.