Economy

The company said the city used the presence of its Cruise self-driving unit to tie its tax bill to a portion of its global revenue.

Under the draft proposal from the Treasury Department, hydrogen projects would need to adhere to strict environmental requirements.

The Internal Revenue Service's Exempt Organizations and Government Entities unit has published two new technical guides aimed at nonprofits.

The Internal Revenue Service has updated its frequently asked questions to offer more guidance on what kinds of components can be used in electric vehicles to qualify for tax credits.

Federal money is keeping construction businesses busy, but comes with its own complications.

The imminent arrival of beneficial ownership information reporting raises questions about indirect control, such as through trusts.

NATP appoints 2024 board of directors; MaloneBailey launches corporate valuation consulting practice; and more news from across the profession.

The U.S. has spelled out new rules for tax credits manufacturers can receive for domestically producing parts necessary for the energy transition — and there's a clear divide for miners and processors.

High-stakes Treasury guidance for claiming hydrogen production tax credits has drawn the ire of Senator Joe Manchin.

LC Lawyers, the Hong Kong law firm member of the Big Four auditor's global network, will cease operations on Jan. 23.

Economic conditions, including inflationary pressures, topped the list of concerns cited by executives on a new survey.

The World Health Organization said raising excise taxes on alcohol and sweetened beverages is the most effective way to reduce consumption while generating revenue.

The pace of hourly earnings growth and hiring slowed down at small businesses, payroll processor Paychex reported.

In the current business landscape, small- and medium-sized practices face an array of challenges, including operational complexities, competitive markets and ever-evolving regulations.

The rules, which aren't finalized, include measures sought by environmentalists that would require hydrogen-production operations to be powered by wind, solar or other clean-power projects built within the last three years to qualify for a $3-per-kilogram credit.

Mohammed Kande has been the Big Four firm's global advisory leader since 2019 and involved in PwC's artificial intelligence efforts.

The guidelines set a 25% ownership threshold for a company or group to be classified as a foreign entity of concern.

The Biden administration has discussed granting automakers a temporary reprieve from new rules poised to limit a consumer tax credit, a Michigan senator said Tuesday.

The Treasury and the IRS issued laid out possible regs to update the investment tax credit rules to encompass various forms of renewable energy.

Nepsis, a Minneapolis-based financial advisory and investment management firm, has acquired Sevenich, Butler, Gerlach, & Brazil, a tax, accounting and consulting firm in Saint Paul, Minnesota.