Chester County News and Community Website
WASHINGTON, D.C. — The Internal Revenue Service is encouraging individuals with credible information about tax fraud to come forward after whistleblower tips helped the agency recover more than $8 billion …
IRS Highlights Whistleblower Program After $8 Billion Recovery Read More
WASHINGTON, D.C. — The U.S. Department of the Treasury and Internal Revenue Service have finalized regulations classifying certain charitable remainder annuity trust (CRAT) arrangements as listed tax-avoidance transactions, requiring taxpayers …
IRS Targets CRAT Tax Shelters With New Disclosure Rules Read More
WASHINGTON, D.C. — The Internal Revenue Service will begin automatically withholding certain penalties from eligible taxpayers this summer, replacing a request-based program with a system intended to reduce paperwork and …
IRS Automates Penalty Relief for Compliant Taxpayers Read More WASHINGTON, D.C. — The Internal Revenue Service has finalized regulations classifying certain arrangements marketed as Charitable Remainder Annuity Trusts (CRATs) as listed transactions, increasing disclosure requirements and potential penalties for …
IRS Classifies Certain Charitable Trust Tax Strategies as Abusive Read More
WASHINGTON, D.C. — The Internal Revenue Service and Treasury Department have issued guidance exempting certain contributions to newly created Trump accounts from federal gift tax reporting requirements, a move aimed …
IRS Eases Gift Tax Reporting Rules for Contributions to Trump Accounts Read More WASHINGTON, D.C. — The Internal Revenue Service successfully processed nearly 139 million individual tax returns and issued more than 90 million refunds during the 2026 filing season despite staffing reductions …
IRS Filing Season Runs Smoothly but Refund Delays Persist, Watchdog Says Read More WASHINGTON, D.C. — An Internal Revenue Service advisory committee issued 18 recommendations aimed at modernizing tax administration, improving taxpayer services, and strengthening fraud prevention, including calls for Congress to simplify …
IRS Advisory Panel Urges Tax Simplification, Stable Funding Read More WASHINGTON, D.C. — Twenty-seven states have elected to participate in a new federal scholarship tax credit program created under the One Big Beautiful Bill Act, allowing eligible taxpayers to receive …
IRS Opens Scholarship Tax Credit Program in 27 States Read More
WASHINGTON, D.C. — The Internal Revenue Service is restructuring its decade-old Security Summit partnership to strengthen information sharing and expand coordination with payroll providers as identity thieves increasingly target taxpayer …
IRS Revamps Security Summit to Counter Evolving Tax Fraud Threats Read More WASHINGTON, D.C. — The U.S. Department of the Treasury and the Internal Revenue Service have issued guidance implementing provisions of the One, Big, Beautiful Bill that broaden the federal excise …
IRS, Treasury Expand Reach of Executive Pay Tax on Nonprofits Read More