Chester County News and Community Website
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
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has issued a formal warning to taxpayers regarding fraudulent tax schemes involving so-called “Charitable LLCs.” Widely marketed to high-income individuals, these abusive transactions …
IRS Issues Warning on Fraudulent “Charitable LLC” Tax Schemes Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has announced the allocation of $53 million in grants to expand free tax preparation services under the Tax Counseling for the Elderly (TCE) …
IRS Awards $53 Million in Grants to Support Free Tax Filing Assistance 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
WASHINGTON, D.C. — The Internal Revenue Service (IRS) is emphasizing the importance of retirement savings for low- and moderate-income taxpayers by reminding them of the benefits of the Saver’s Credit. Designed …
Unlock Tax Savings While Building Your Future: Don’t Miss the Saver’s Credit Benefits Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has announced a significant policy change designed to streamline the process for taxpayers filing returns with duplicate dependents while enhancing protections against identity …
IRS Unveils New Policy to Fast-Track Tax Refunds and Combat Identity Theft with IP PIN Requirement Read More