Chester County News and Community Website
WASHINGTON, D.C. — Following an unpredictable year with many changes and challenges, the Internal Revenue Service is sharing important reminders for taxpayers who are about to file their 2020 federal …
Read More
WASHINGTON, D.C. — The Internal Revenue Service issued the 2021 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving …
Read More
WASHINGTON, D.C. — The Treasury Department and Internal Revenue Service has issued final regulations on the deduction for qualified transportation fringe and commuting expenses following changes made by the Tax Cuts …
Read More
WASHINGTON, D.C. — The Treasury Department and Internal Revenue Service issued final regulations relating to section 1031 like-kind exchanges. These final regulations address the definition of real property under section …
Read MoreWASHINGTON, D.C. — The Internal Revenue Service this week announced the tax year 2021 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other …
Read More
WASHINGTON, D.C. — The Internal Revenue Service posted to IRS.gov final regulations for Achieving a Better Life Experience (ABLE) accounts.
Read MoreWASHINGTON, D.C. — The Internal Revenue Service issued final regulations on the business expense deduction for meals and entertainment following changes made by the Tax Cuts and Jobs Act (TCJA).
Read More
WASHINGTON, D.C. — During the recent Small Business Week, the Internal Revenue Service reminded individuals to consider taking the home office deduction if they qualify. The benefit may allow taxpayers …
Read MoreWASHINGTON, D.C. — The Internal Revenue Service has issued final regulations that provide guidance for decedents’ estates and non-grantor trusts clarifying that certain deductions of such estates and non-grantor trusts …
Read MoreWASHINGTON, D.C. — The Treasury Department and the Internal Revenue Service recently released the last set of final regulation implementing the 100% additional first year depreciation deduction that allows businesses to …
Read More