Chester County News and Community Website
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
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has announced updated optional standard mileage rates for 2025, affecting taxpayers using automobiles for business, medical, moving, and charitable purposes. The most …
IRS Announces 2025 Mileage Rates, Highlights Changes for Business Use Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has provided a quarterly update to its Strategic Operating Plan, outlining pivotal milestones in enforcement, taxpayer services, and digital transformation, aimed at modernizing …
IRS Strategic Operating Plan Achieves Billions in Recoveries, Enhances Taxpayer Support Read More
WASHINGTON, D.C. — The Internal Revenue Service Criminal Investigation (IRS-CI) has unveiled its Fiscal Year 2024 (FY24) Annual Report, detailing key achievements in tackling financial crimes domestically and abroad. Covering …
IRS-CI Releases FY24 Annual Report Highlighting Landmark Investigations and Global Impact Read More