Chester County News and Community Website
WASHINGTON, D.C. — The National Taxpayer Advocate, Erin M. Collins, has recently delivered her 2023 Annual Report to Congress, shedding light on the complexities and challenges taxpayers face due to …
National Taxpayer Advocate’s 2023 Report Rings Alarm on IRS Paper Processing Delays Read More
As we begin the new year, you may be receiving various tax statements from your financial services provider — so it’s a good time to consider how your investments are …
How Are Your Investments Taxed? Read More
The Internal Revenue Service (IRS) is reminding eligible individuals who have not yet claimed their Recovery Rebate Credit to file a tax return before it’s too late. The deadlines to …
IRS Urges Eligible Taxpayers to Claim Recovery Rebate Credit Before Deadlines Read More
The Internal Revenue Service (IRS) has recently issued a reminder to Individual Retirement Arrangement (IRA) owners aged 70½ and over. These individuals are allowed to transfer up to $100,000 annually …
IRS Reminder: IRA Owners Over 70½ Can Transfer up to $100,000 to Charity Tax-Free Read More
The Internal Revenue Service (IRS) has recently updated its frequently asked questions (FAQs) on Fact Sheet 2023-26. The update pertains to question 9 and clarifies the tax implications for wrongfully …
IRS Updates FAQ on Wrongful Incarceration Exclusion; Back Pay for Wrongfully Incarcerated Service Members Not Exempt from Gross Income Read More
If you’ve invested in an IRA for many decades, it may well turn into a key source of income for your retirement. Still, you might not deplete your IRA in …
Don’t Leave Your IRA to the IRS Read More
Are you worried about an IRS audit? It can be a highly stressful and time-consuming process, not to mention the potential financial exposure. This article explores some of the primary …
Discover the Red Flags That Could Trigger a Tax Audit Read More
Filing your tax return early can be a great way to get ahead of the game and ensure you have plenty of time to review your taxes and make any …
Benefits of Filing Your Tax Return Early Read More