Chester County News and Community Website
The Department of the Treasury, in collaboration with the Internal Revenue Service (IRS), has unveiled proposed regulations to guide the implementation of the advanced manufacturing production credit. This credit was …
Treasury Department and IRS Issue Guidelines for Advanced Manufacturing Production Credit Read More
The Commissioner of the Internal Revenue Service (IRS), Danny Werfel, recently announced a significant reshuffling of the agency’s leadership structure. The planned changes, which are set to be implemented in …
IRS Announces Overhaul of Leadership Structure to Boost Efficiency and Modernize Tax System Read More
The Internal Revenue Service (IRS) is reminding taxpayers during the open enrollment season for Flexible Spending Arrangements (FSAs) that they may be eligible to use tax-free dollars to pay for …
IRS Announces FSA Contribution Limit Increase for 2024, Encourages Taxpayers to Maximize Savings Read More
The Internal Revenue Service’s (IRS) Independent Office of Appeals has unveiled its Focus Guide for fiscal year 2024, emphasizing plans to enhance taxpayer service in its mission to resolve tax …
IRS Independent Office of Appeals Releases 2024 Focus Guide, Prioritizes Improving Taxpayer Service Read More
The Internal Revenue Service (IRS) has been honored with the prestigious Enterprise Risk Management (ERM) Luminary Award at the Annual ERM Summit. The award, presented by the Association for Federal …
IRS Earns Enterprise Risk Management Luminary Award for Exceptional Implementation Read More
The Internal Revenue Service (IRS) has announced that it is accepting nominations for the Electronic Tax Administration Advisory Committee (ETAAC) through January 31, 2024. The ETAAC serves as a public …
IRS Calls for Electronic Tax Administration Advisory Committee Nominations Read More The Internal Revenue Service (IRS) has begun sending out more than 20,000 letters to taxpayers indicating that their Employee Retention Credit (ERC) claims have been disallowed. This move is part …
IRS Disallows Dubious Employee Retention Credit Claims, Sends Notifications to Over 20,000 Taxpayers Read More
In a recent announcement, the Internal Revenue Service (IRS) and the Security Summit partners underscored the need for tax professionals to bolster their security measures and protect sensitive client information. …
IRS and Security Summit Partners Urge Tax Professionals to Enhance Security Measures Read More The Internal Revenue Service (IRS) has issued a reminder for low- and moderate-income taxpayers about the opportunity to save for retirement while also earning a special tax credit in 2024 …
IRS Encourages Low- and Moderate-Income Taxpayers to Save for Retirement with Saver’s Credit Read More The Internal Revenue Service (IRS) has announced a delay in the new $600 Form 1099-K reporting threshold for third-party settlement organizations for calendar year 2023. The decision, released in Notice …
IRS Delays New $600 Form 1099-K Reporting Threshold to Reduce Taxpayer Confusion Read More