Chester County News and Community Website
WASHINGTON, D.C. — The Treasury Department and Internal Revenue Service unveiled new guidance this week on the launch of “Trump Accounts,” a forthcoming class of individual retirement accounts for eligible …
New IRS Rules Spark Big Questions About ‘Trump Accounts’ for Children Read More
WASHINGTON, D.C. — The Treasury Department and Internal Revenue Service this week opened a sweeping public comment period on a new federal tax credit tied to K–12 scholarship donations, a …
IRS Unveils New Education Tax Credit, Sparking Big Questions Ahead of 2027 Launch Read More
WASHINGTON, D.C. — The Department of the Treasury and the IRS this past week released two sets of sweeping tax guidance that could reshape financial planning for rural lenders, tipped …
IRS Unveils New Tax Breaks for Rural Lenders, Tipped Workers, and Overtime Earners Read More
WASHINGTON, D.C. — The Internal Revenue Service last week unveiled a sweeping set of cost-of-living adjustments that will raise how much Americans can save tax-free for retirement in 2026 — …
IRS Raises 401(k), IRA Limits for 2026 as Retirement Savings Thresholds Jump Again Read More WASHINGTON, D.C. — The Internal Revenue Service is giving tax professionals and employers fresh guidance — and a temporary break — as sweeping changes under the One Big Beautiful Bill …
IRS Unveils New Tools, Tip Relief Ahead of 2025 Tax Season Shake-Up Read More
WASHINGTON, D.C. — The Internal Revenue Service is urging more than 800,000 paid tax professionals across the nation to renew their Preparer Tax Identification Numbers (PTINs) before the end of …
IRS Warns Tax Preparers: Renew Identification Numbers Now or Risk Penalties Read More WASHINGTON, D.C. — The Internal Revenue Service released several key updates last week implementing provisions of the One, Big, Beautiful Bill (OBBB), including temporary reporting relief for auto lenders, new …
IRS Issues New Guidance on Car Loan Interest, Employee Credits, and 1099-K Thresholds Read More
WASHINGTON, D.C. — The Internal Revenue Service this past week released two major updates related to implementation of the One, Big, Beautiful Bill (OBBB), including temporary penalty relief for remittance …
IRS Issues Penalty Relief, 2026 Inflation Adjustments Following Enactment of One, Big, Beautiful Bill Read More
WASHINGTON, D.C. — The Internal Revenue Service and the U.S. Department of the Treasury unveiled a series of major updates this week, ranging from fee reductions for tax preparers and …
IRS Rolls Out Fee Cuts, New Tax Relief, and Mediation Pilot Amid Busy Week Read More WASHINGTON, D.C. — The Internal Revenue Service announced two major updates last week, extending tax relief for farmers and ranchers impacted by drought and launching a plan to phase out …
IRS Expands Drought Relief for Farmers, Moves to End Paper Refund Checks Read More