Chester County News and Community Website
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has announced a major milestone, having collected over $1 billion in past-due taxes from high-income taxpayers. This achievement stems from intensified enforcement …
IRS Surpasses $1 Billion Mark in Collections from Wealthy Tax Evaders Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has issued new guidance on the Clean Fuel Production Credit, introduced by the Inflation Reduction Act of 2022. This credit, effective from …
IRS Releases Guidelines for Clean Fuel Production Credit Registration Read More WASHINGTON D.C. — The Internal Revenue Service (IRS) has issued a cautionary alert to taxpayers about a new scam involving the purchase of clean energy tax credits. Unscrupulous tax return …
IRS Warns Taxpayers of New Scam Involving Clean Energy Tax Credits Read More
WASHINGTON D.C. — The Internal Revenue Service (IRS) and its Security Summit partners have announced a new campaign aimed at protecting tax professionals from evolving scams and identity theft threats. …
IRS Launches Campaign to Combat Tax-Related Identity Theft Read More
WASHINGTON, D.C. — The Department of the Treasury and the Internal Revenue Service (IRS) recenlty issued final regulations detailing how corporations should report and pay the new 1 percent excise …
New IRS Rules for Corporate Stock Buyback Tax Take Effect Read More
WASHINGTON, D.C. — There’s a new wave coming, and it’s digital. The U.S. Department of the Treasury and the Internal Revenue Service (IRS) recently released final regulations stipulating that brokers …
Digital Transactions Spotlighted: How New US Regulations Include Cryptocurrency in Tax Reporting Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has issued a reminder to taxpayers that despite evolving state laws, marijuana remains classified as a Schedule I controlled substance under federal …
IRS Reminds Taxpayers: Marijuana Still Subject to Strict Federal Tax Rules Read More
WASHINGTON, D.C. — The Internal Revenue Service Electronic Tax Administration Advisory Committee (ETAAC) has released its 2024 annual report, presenting a comprehensive set of recommendations aimed at improving tax administration. …
IRS Advisory Committee Urges Major Reforms for Tax Filing System Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has announced a time-limited settlement offer for taxpayers involved in Syndicated Conservation Easements (SCE) and similar transactions that are currently under audit. …
IRS Offers Time-Limited Settlement to Taxpayers in Syndicated Conservation Easement Cases Read More WASHINGTON, D.C. — In her recent mid-year report to Congress, National Taxpayer Advocate Erin M. Collins revealed a tale that is both encouraging and troubling about the current state of …
IRS Faces Challenges: Delayed Refunds, Misleading Measures, and Unchecked Claims Read More