Chester County News and Community Website
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has released new guidance clarifying the federal income and employment tax treatment of contributions to, and benefits paid from, state-mandated paid family and …
IRS Issues Guidance on Tax Treatment of Paid Family and Medical Leave Programs Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has introduced three pilot programs aimed at refining its Alternative Dispute Resolution (ADR) initiatives. These programs are designed to provide taxpayers with more …
IRS Launches Pilot Programs to Enhance Alternative Dispute Resolution Options Read More
WASHINGTON, D.C. — The Department of the Treasury and the Internal Revenue Service (IRS) have introduced proposed regulations mandating automatic enrollment provisions for newly established 401(k) and 403(b) retirement plans under …
Treasury and IRS Propose Rules Mandating Automatic Enrollment in New Retirement Plans Read More
WASHINGTON, D.C. — The Department of the Treasury and the Internal Revenue Service (IRS) have unveiled proposed regulations addressing key provisions of the SECURE 2.0 Act related to retirement plan catch-up …
Treasury and IRS Propose New Rules for SECURE 2.0 Catch-Up Contributions Read More
WASHINGTON, D.C. — The Department of the Treasury and the Internal Revenue Service (IRS) have issued final regulations classifying certain partnership related-party basis adjustment transactions as transactions of interest (TOIs). These …
Treasury and IRS Finalize Rules on Partnership Basis Shifting Transactions Read More
WASHINGTON, D.C. — For the first time in years, good news is coming from the IRS about taxpayer services. According to National Taxpayer Advocate Erin M. Collins’ 2024 Annual Report to …
Your Tax Dollars at Work—But Are They Enough? The Truth About IRS Progress and Unresolved Taxpayer Struggles Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) is reminding taxpayers to make their fourth quarter estimated tax payment by January 15, 2025, if they underpaid federal taxes in 2024. The …
Don’t Get Hit with Costly Penalties—Act Now to Avoid a Tax Bill Before January 15 Deadline! Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has issued an urgent reminder for taxpayers in disaster-affected areas about extended filing deadlines for their 2023 tax returns. Depending on where …
Disaster-Area Taxpayers Get More Time to File – Here’s What You Need to Know Read More
WASHINGTON, D.C. — The Department of the Treasury and the Internal Revenue Service recently unveiled proposed regulations to modernize Circular 230, the set of rules governing tax professionals authorized to …
Treasury and IRS Propose Updates to Tax Practitioner Rules Under Circular 230 Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has announced plans to distribute automatic payments to certain taxpayers eligible for the 2021 Recovery Rebate Credit, aiming to assist those who …
IRS to Automatically Issue Payments for Missed 2021 Recovery Rebate Credit Read More