Chester County News and Community Website
WASHINGTON, D.C. — The Internal Revenue Service (IRS) states that it is making significant strides in modernizing its services and improving taxpayer experience, thanks to funding from the Inflation Reduction …
IRS Leverages Inflation Reduction Act to Modernize Services and Enhance Taxpayer Experience Read More
WASHINGTON, D.C. — The Department of the Treasury and the Internal Revenue Service (IRS) have issued new final regulations that update the rules for required minimum distributions (RMDs) from retirement …
Treasury and IRS Update Rules on Retirement Fund Distributions Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has issued a consumer alert about misleading social media claims promoting a non-existent “Self Employment Tax Credit.” Promoters are falsely advertising this …
IRS Warns Public About False “Self Employment Tax Credit” Claims Read More
PHILADELPHIA, PA — Abdur Rahim Islam, the former CEO of Universal Community Homes (UCH) and Universal Education Companies (UEC), has been sentenced to 84 months in prison. United States Attorney …
Former CEO Sentenced for Fraud and Corruption Read More
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