Chester County News and Community Website
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. — The Internal Revenue Service (IRS) issued Notice 2024-85 this week, granting transitional relief for third-party settlement organizations (TPSOs) regarding transaction reporting and backup withholding requirements. This guidance sets …
IRS Provides Transitional Relief for Third-Party Settlement Organizations on Reporting Thresholds Read More
KING OF PRUSSIA, PA — Vertex Inc. (NASDAQ: VERX) has unveiled a new survey showcasing the critical role of automation and digital transformation in enhancing business growth within tax and …
Vertex Inc. Highlights Urgency in Tax and Finance Transformation Survey Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has unveiled proposed regulations to provide clarity on the Corporate Alternative Minimum Tax (CAMT), introduced by the Inflation Reduction Act. The CAMT …
IRS Unveils New Rules for Corporate Tax: What Businesses Need to Know! Read More
WASHINGTON, D.C. — In a decisive move to bolster American manufacturing and protect national security, Senator Bob Casey (D-PA) announced that the U.S. Trade Representative recently finalized an increase in …
Tariff Tensions Rise: Senator Casey Hits Back at China’s Trade Tactics! Read More WASHINGTON, D.C. — The Internal Revenue Service (IRS) has announced a significant update to the identity authentication process for financial institutions registering under the Foreign Account Tax Compliance Act (FATCA). …
IRS Enhances Authentication Process for FATCA Registration Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has issued a reminder for U.S. taxpayers living and working outside the United States to file their 2023 federal income tax returns …
IRS Reminds Americans Abroad to File Taxes by June 17 Read More
WASHINGTON, D.C. — Spurred by China’s perceived anticompetitive practices, U.S. Senator Bob Casey (D-PA) publicly endorsed the recent decision by the U.S. Trade Representative (USTR) to keep-and increase-Section 301 tariffs. …
Senator Casey Endorses Maintaining Increased Section 301 Tariffs: A Win for American Workers and Manufacturers Read More