Chester County News and Community Website
The Department of the Treasury and the Internal Revenue Service recently issued final regulations and Revenue Procedure 2023-27 to provide guidance for owners of certain solar or wind facilities built in connection with …
New IRS Regulations for Solar and Wind Projects in Low-Income Communities Read More
The Internal Revenue Service is warning businesses and tax professionals to be alert to a range of compliance issues that can be associated with Employee Stock Ownership Plans (ESOPs).
IRS Alerts Businesses and Tax Professionals to ESOP Compliance Issues Read More
The Internal Revenue Service and the Security Summit partners are urged tax professionals to learn the signs of data theft so they can respond quickly to protect clients.
Identity Theft Red Flags Tax Pros Should Know Read More
The Internal Revenue Service is reminding eligible contractors who build or substantially reconstruct qualified new energy-efficient homes that they might qualify for a tax credit up to $5,000 per home.
Get Rewarded for Building Green: Up to $5,000 Tax Credit for Energy-Efficient Homes! Read More
The Department of the Treasury and the Internal Revenue Service recently issued guidance for manufacturers, producers and importers of certain drugs regarding the tax imposed by section 5000D of the …
IRS Provides Guidance on Drug Tax for Manufacturers: What You Need to Know Read More
The IRS recently issued Notice 2023-59Â regarding the requirements for home energy audits for taxpayers that want to claim the Energy Efficient Home Improvement Credit.
IRS Unveils Home Audit Rules for Taxpayers Seeking Energy Efficient Home Improvement Credit Read More
The Department of the Treasury and the Internal Revenue Service recently issued proposed regulations identifying certain monetized installment sale transactions and substantially similar transactions as listed transactions – abusive tax transactions …
New Treasury Regulations: Monetized Installment Sales and Similar Transactions Identified as Listed Abuses Read More
The Internal Revenue Service has invited public input on improvements to certain post-filing alternative dispute resolution (ADR) programs currently offered to taxpayers.
IRS Seeks Public Input to Enhance Tax Dispute Resolution Programs Read More With the Internal Revenue Service making substantial progress in the ongoing effort related to the Employee Retention Credit (ERC) claims, Commissioner Danny Werfel said the agency has entered a new phase of …
IRS Ramps Up Fight Against Fraud in Employee Retention Credit Program Read More
The Internal Revenue Service recently announced a major policy change that will end most unannounced visits to taxpayers by agency revenue officers to reduce public confusion and enhance overall safety …
IRS Ends Unannounced Revenue Officer Visits to Taxpayers Read More