Chester County News and Community Website
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has unveiled its Fiscal Year 2024 Financial Report, showcasing a year marked by substantial revenue collections, commendable financial management, and overcoming longstanding challenges. …
IRS Reports Robust Financial Year Amid Significant Achievements and Challenges Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has unveiled an early draft of the updated Form 1099-DA. This form is designated for brokers to report sale and exchange transactions …
IRS Releases Draft Form 1099-DA for Digital Asset Transactions Read More WASHINGTON, D.C. — The Internal Revenue Service (IRS) has issued a draft of the revised Form 6765, also known as the Credit for Increasing Research Activities or the Research Credit. …
IRS Releases Draft of Revised Research Credit Form Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has announced plans to deny tens of thousands of improper Employee Retention Credit (ERC) claims following an extensive review aimed at safeguarding …
IRS to Deny Thousands of Improper Employee Retention Credit Claims Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has unveiled a series of new initiatives aimed at curbing abusive partnership transactions that enable wealthy taxpayers to evade paying their fair …
IRS Cracks Down on Abusive Partnership Transactions with New Measures Read More
WASHINGTON, D.C. — A recently unveiled analysis by the U.S. Department of the Treasury and the Internal Revenue Service (IRS) offers an insightful take on the potential of IRS modernization. …
Bolstering IRS Modernization Could Unlock Billions in Revenue, Fresh Analysis Indicates Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) this week announced that nearly 250 of its Taxpayer Assistance Centers (TACs) across the United States will extend their weekly office hours.
IRS Extends Taxpayer Assistance Center Hours for Filing Season, Aims to Improve Customer Experience Read More WASHINGTON, D.C. — The Internal Revenue Service (IRS) continues to work to ensure the Employee Retention Credit (ERC), a lifeline for businesses impacted by the COVID-19 pandemic, is not exploited …
Uneasy Claims: IRS Stepping Up Scrutiny on Employee Retention Credit Read More WASHINGTON, D.C. — The Internal Revenue Service (IRS) recently kickstarted the Simple Notice Initiative. This sweeping transformation aims to simplify and demystify the approximately 170 million letters that make their …
IRS Launches Simple Notice Initiative: The Revolutionary Redesign to Streamline Taxes for Millions of Americans Read More
In a recent announcement, the Internal Revenue Service (IRS) and the Security Summit partners underscored the need for tax professionals to bolster their security measures and protect sensitive client information. …
IRS and Security Summit Partners Urge Tax Professionals to Enhance Security Measures Read More